EFCC Explains Decision To Freeze Osun Govt’s Bank Account, Cites Unusual Movt Of Funds To ‘Suspicious’ Bank Accounts
The Economic and Financial Crimes Commission (EFCC) which had come under spotlight after Governor Ademola Adeleke of Osun State condemned its decision to order the freezing of the state government’s bank account in First Bank plc, has explained reasons for taking the action in question.
Team@orientactualmags.com learned that the anti-graft agency in a social media post on Wednesday explained that the decision to freeze the bank account of Osun State was sequel to unusual movement of funds to ‘suspicious’ ‘bank accounts since August 2, 2026.
‘The Economic and Financial Crimes Commission, EFCC, is compelled to publicly address issues pertaining to its preventive moves in freezing the bank account of the Osun State government, without prejudice to the imminent governorship election in the state.
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). 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 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.
It is equally needful to state that the Commission is keeping watch over the finances of other states like Osun State. Many of these states are on the investigative radar of the Commission to ensure accountability and probity’ the anti-graft agency said.
EFCC also noted that it has always asserted itself as a non-partisan and non-sectarian agency and always working in the overall interests of Nigerians while adding that ‘Osun State government account was frozen to save public funds from being looted’.
The anti-graft agency urged members of public to ignore false narratives and deliberate demonization of the works of the EFCC saying ‘the interests of all Nigerians are greater and will always be protected by the Commission’-Team@orientactualmags.com Do you have any information you wish to share with us? Do you want us to cover your event or programme? Kindly send SMS to 08035023079, 08059100286, 09094171980 or get in touch via orientactualmag@gmail.com. Thank you
