The Economic and Financial Crimes Commission, EFCC, has explained its decision to place a Post No Debit order on the Osun State government account, saying the action was a preventive measure to safeguard public funds.
In a statement signed by Mr. Dele Oyewale, Head, Media & Publicity, the Commission said it has been investigating the Osun State government since March 2026 over alleged fraudulent handling of Ecology Funds, Intervention Funds, and Federal Account Allocation Committee, FAAC, allocations totaling N11 billion.
According to the EFCC, some officials of the state government, including the Accountant General, have had intervi
The Commission stated that the investigation alone would not have warranted freezing the account. However, it cited what it described as “precipitate and unwarranted movement of funds” from the state accounts to different entities beginning 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 statement said.
The EFCC described its preventive mandate as a framework for safeguarding public funds, assets, and resources.
“The Commission cannot watch idly while a state government’s account is being pillaged,” it added. “The Osun State government account was frozen to save public funds from being looted.”
The Commission acknowledged the upcoming governorship election in Osun State but said it has a responsibility to act in defence of public funds.
“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 statement read.
The EFCC also stated that it is monitoring the finances of other states and that many 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,” it said.
The Commission urged the public to ignore what it termed “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.
