The Economic and Financial Crimes Commission, EFCC on Wednesday justified the freezing of Osun State government account, without prejudice to the imminent governorship election in the State.
It blamed the decision on the alleged fraudulent handling of Ecological intervention Funds, and Federal Account Allocation Committee, FAAC account to the tune of N11, 000,000, 000(Eleven Billion Naira only) by state actors.
In a statement by the anti-graft agency circulated on its verified social media handles, said the EFCC has been busy investigating the Osun state government since March, 2026 in connection with the alleged crime.
The statement reads partly: “These ongoing investigations of the state government would not have warranted any placement of Post No Debit order on its account but for the precipitate and unwarranted movement of funds from the accounts to different suspicious accounts since August 2, 2026.
“The Commission noticed huge transfers of funds into different corporate entities and had to swiftly halt the trend by freezing the accounts from which such heavy funds are being moved.
“The EFCC’s preventive mandate is a public-inclined framework of safeguarding public funds, assets and resources.
“The Commission cannot watch idly while a state government’s account is being pillaged.
“While the Commission is fully aware of the impending governorship election in Osun State, it has a responsibility to act in defence of the sanctity of the funds of the state.
“It will be uncharitable for the Commission to allow an excuse of an upcoming election to fold its arms to perform its legally-assigned functions”,EFCC said.
It is equally needful to state that the Commission is keeping watch over the finances of other states like Osun State, according to EFCC, saying, many of these states are on the investigative radar of the Commission to ensure accountability and probity”.
Accordingly, “The Commission has always pointed out that it is non-partisan and non-sectarian but always working in the overall interests of Nigerians. The Osun State government account was frozen to save public funds from being looted”.
TheNewspad recalls that Governor Ademola Adeleke, had raised the alarm, following attempts by EFCC to freeze the State’s government Account.
