The Economic and Financial Crimes Commission (EFCC) has explained the reason behind its decision to freeze the bank accounts of the Osun State Government, insisting that the move is part of an ongoing investigation into the alleged mismanagement of public funds and is not connected to the state’s forthcoming governorship election.
In a statement shared on its official X (formerly Twitter) account on Wednesday, the anti-graft agency disclosed that it began investigating the Osun State Government in March 2026 over the alleged fraudulent handling of approximately ₦11 billion received through Ecology Funds, Intervention Funds, and allocations from the Federation Account Allocation Committee (FAAC).
According to the commission, the decision to freeze the accounts was taken to prevent the suspected diversion of public funds while investigations continue.
The EFCC also revealed that several key officials of the Osun State Government, including the state’s Accountant General, have already been interrogated as part of the probe.
The agency maintained that its actions are based strictly on the ongoing investigation and should not be interpreted as being influenced by the August 15, 2026, Osun governorship election. It stressed that the investigation is aimed at ensuring accountability and safeguarding public resources.
The development comes just days before voters head to the polls to elect the state’s next governor, a timing that has attracted public attention and political reactions.
However, the EFCC insisted that its mandate remains the fight against corruption and financial crimes, regardless of political events or election timelines.
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