Abuja, Aug, 6, 2026 – The Economic and Financial Crimes Commission (EFCC) says it froze the bank accounts of Osun State government to prevent diversion of public funds.
The EFCC said this in a statement posted on its official X account on Wednesday after freezing the bank accounts 10 days ahead of the state’s governorship election coming up on Saturday, Aug. 15.
It said it had been investigating the state government since March 2026 over the alleged diversion of about N11 billon Ecology Funds, Intervention Funds and allocations from the Federation Account Allocation Committee.
The commission said it had also detected suspicious movements of funds from the government’s accounts from August 2.
The commission said it had already questioned some government officials including the accountant general of the state on the issue.
The statement reads in parts: “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’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 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.”
