The Economic and Financial Crimes Commission,EFCC, has provided reasons for freezing Osun State government’s bank account citing ongoing investigation into the alleged mismanagement of public funds running into N11billion.
The anti-graft agency, in a statement issued on Wednesday, said the Post No Debit, PND, order placed on the account was a preventive measure to halt what it described as “precipitate and unwarranted” movement of funds from the state’s coffers to suspicious corporate entities.
According to the Commission, investigations into the finances of the Osun State Government began in March 2026, centring on the alleged fraudulent handling of Ecology Funds, Intervention Funds, and disbursements from the Federal Account Allocation Committee totalling ₦11,000,000,000.
“Some officials of the state government, especially the Accountant General of the State, have had interview sessions with investigators of the EFCC,” the Commission stated.
The EFCC explained that the account freeze was triggered by suspicious transactions detected from August 2, 2026, during which large sums were allegedly moved from government accounts into different corporate entities.
“These ongoing investigations of the state government would not have warranted any placement of a Post No Debit order on its account but for the precipitate and unwarranted movement of funds from the accounts to different suspicious accounts,” the Commission said.
The agency insisted that its preventive mandate compels it to safeguard public funds, assets, and resources, adding that it “cannot watch idly while a state government’s account is being pillaged.”
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Addressing concerns about political timing, in view of the impending governorship election in Osun State, the EFCC maintained that the election could not serve as a shield against lawful investigation.
“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,” the statement read.
The Commission further disclosed that Osun is not the only state under its financial radar, noting that several other states are being similarly monitored to ensure accountability and probity. It described itself as “non-partisan and non-sectarian,” urging the public to disregard what it called “false narratives and deliberate demonization” of its activities.
Governor Adeleke kicks
Reacting to the development at a news conference in Osogbo on Wednesday, Governor Ademola Adeleke accused the EFCC of acting arbitrarily and without explanation.
The governor said he was formally notified of the freeze through a letter from the state’s banker, which forwarded the EFCC directive.
“This morning, we received a letter from our banker, forwarding a letter from the EFCC, instructing the bank to freeze Osun State Government account. This action was taken without any court order,” Adeleke said.
Describing the freeze as a violation of due process, the governor argued that the Rule of Law must be upheld in a democratic society and warned against what he termed the trampling of the constitutional rights of sub-national governments by federal agencies.
“The EFCC’s action is a threat to democracy, and if allowed, it will destroy the fabric of Nigeria’s democracy,” he declared.
Adeleke called on the EFCC Chairman to publicly explain the rationale behind the freeze and produce evidence justifying the action.
The governor further disclosed that he had directed the State Attorney General to immediately challenge the EFCC’s action at the Federal High Court, Osogbo, setting the stage for a legal battle that could test the limits of federal anti-graft powers over sub-national government finances.
The unfolding dispute comes at a politically sensitive moment, with the Osun State governorship election drawing closer, raising fresh debates over the intersection of law enforcement, federalism, and electoral politics in Nigeria.
Crediblenewsng.com
