The Economic and Financial Crimes Commission (EFCC) has explained why it froze an Osun State Government bank account ahead of the state’s governorship election.
In a statement, the anti-graft agency said it had been investigating the Osun State Government since March 2026 over the alleged handling of about N11 billion in Ecology Funds, Intervention Funds and Federal Account Allocation Committee (FAAC) funds.
The EFCC said some state officials, including the Accountant General, had been questioned as part of the ongoing investigation.
According to the commission, the investigation alone would not have led to the freezing of the account. It said the decision followed what it described as the “precipitate and unwarranted movement of funds” from the account to different suspicious accounts since August 2, 2026.
The EFCC said it noticed large transfers to various corporate entities and moved quickly to stop further movement of the funds.
The commission maintained that its action was aimed at protecting public funds and was not connected to the upcoming governorship election.
It also said it is monitoring the finances of other state governments and insisted that the EFCC remains non-partisan and focused on protecting public resources.
The commission urged Nigerians to ignore what it described as false narratives about the freezing of the Osun State Government account, saying the action was taken to prevent public funds from being looted.
