Osun gov’t account frozen to save funds from being looted – EFCC

The Economic and Financial Crimes Commission has disclosed it uncovered movement of funds from Osun State government account to some corporate accounts in a suspicious manner and proactively responded by placing a ‘post no debit’ order on the account.

The agency said it action was without prejudice as it was part of its mandate to prevent economic crimes whenever it notices something close to it and not because of the imminent governorship election.

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In a statement by the Head of Media and Publicity of the Commission, Dele Oyewole on Wednesday, the anti-graft agency disclosed that Osun State’s ecological and FAAC account were under investigation since March, 2026.

“The Commission has been busy investigating the Osun state government since March, 2026, regarding alleged fraudulent handling of Ecology Funds, Intervention Funds and Federal Account Allocation Committee, FAAC account to the tune of N11, 000,000, 000(Eleven Billion Naira only).

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“To this end, some officials of the state government, especially the Accountant General of the State, have had interview sessions with investigators of the EFCC.

“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 Commission said its action was in the public interest and cannot sit idly watching resources of the Osun people being pillaged.

“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.”

The Commission exculpate itself from partisanship of.any form, noting that it was also keeping watch over other States to guard against looting of resources.

“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.

“The public is enjoined to ignore false narratives and deliberate demonization of the works of the EFCC. The interests of all Nigerians are greater and will always be protected by the Commission” the statement concluded.

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