The Economic and Financial Crimes Commission (EFCC) stated on Wednesday that it froze Osun State government bank accounts to halt the suspected diversion of N11 billion. The agency denied that this move was influenced by the upcoming state gubernatorial election.
Dele Oyewale, the agency’s media lead, explained that the investigation began in March 2026, focusing on the mismanagement of Ecology Funds, Intervention Funds, and FAAC allocations. Several officials, including the Accountant-General, have already faced questioning.
The EFCC clarified that the freezing order was prompted by a sudden spike in irregular fund transfers to various companies starting August 2, 2026. According to the agency, allowing these transactions to proceed would have meant ignoring the pillaging of public resources.
Defending its actions, the commission emphasized that its mandate to protect state funds overrides election-related concerns. Furthermore, the agency noted that it is monitoring the finances of other states to ensure accountability, insisting that its operations are strictly legal and free from political bias. The EFCC urged the public to dismiss rumors intended to undermine its anti-corruption efforts.
