Alleged N11bn Fraud: Why We Froze Osun Government Accounts – EFCC
The Economic and Financial Crimes Commission (EFCC) has broken its silence on why it blocked the bank accounts of the Osun State government, clarifying that the move was necessary to safeguard public funds from being looted ahead of the state’s upcoming governorship election.
According to a statement from the anti-graft agency, the Osun State government has been under intense investigation since March 2026.
The probe centres on the alleged fraudulent mismanagement of N11 billion from the state’s Ecology Funds, Intervention Funds, and the Federal Account Allocation Committee (FAAC) allocations.
Several top state officials, including the Accountant General of Osun State, have already undergone interrogation by EFCC operatives.
Suspicious Transfers Triggered the Freeze
The EFCC explained that while the ongoing investigation would not normally require a total freeze on state operations, sudden and massive fund movements left the commission with no choice.
Investigators detected massive, precipitate transfers from government repositories into various suspicious corporate entities starting on August 2, 2026. To halt what it described as the pillaging of state assets, the EFCC swiftly placed a “Post No Debit” order on the affected accounts.
Election Politics vs. Public Mandate?
Addressing concerns regarding the timing of the freeze relative to the imminent Osun governorship election, the EFCC stressed that politics would not deter its legal duties.
“The Commission cannot watch idly while a state government’s account is being pillaged,” the statement read. “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.”
The anti-graft body added that hiding behind an upcoming election to ignore financial irregularities would be a failure of its legal mandate.
Other States Under Surveillance
The agency further revealed that Osun is not an isolated case, stating the that it is actively monitoring the finances of several other state governments to enforce transparency and probity across Nigeria.
Reiterating its non-partisan stance, the EFCC urged the public to disregard false narratives aiming to demonize its activities, maintaining that its actions are strictly driven by the collective interest of Nigerian citizens.
