The Economic and Financial Crimes Commission says it froze Osun State’s government account for alleged fraudulent handling of N11b ,just ahead of the governorship election
In a press statement issued on Monday, the Commission said it has been investigating the Osun State government since March 2026 regarding the alleged mismanagement of Ecology Funds, Intervention Funds, and Federal Account Allocation Committee, FAAC, allocations totalling N11,000,000,000. As part of the probe, some state officials, including the Accountant General of the State, have had interview sessions with EFCC investigators.
The EFCC said the decision to place a Post No Debit order on the account was triggered by “precipitate and unwarranted movement of funds” beginning August 2, 2026. According to the Commission, it observed huge transfers from government accounts into different corporate entities and had to swiftly intervene to halt further withdrawals. “The Commission noticed huge transfers of funds into different corporate entities and had to swiftly halt the trend by freezing the accounts,” the statement read.
The agency defended the action as part of its preventive mandate to safeguard public funds. It stressed that the timing of the freeze was not influenced by the impending governorship election in Osun. “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,” the EFCC said. It added that it would be “uncharitable” to ignore suspicious transactions under the guise of an election.
The Commission also disclosed that Osun is not the only state under watch. It said many other states are “on the investigative radar” to ensure accountability and probity. The EFCC reiterated that it is non-partisan and non-sectarian, and that the Osun account was frozen solely “to save public funds from being looted.”
The public was urged to ignore what the EFCC described as “false narratives and deliberate demonization” of its work. “The interests of all Nigerians are greater and will always be protected by the Commission,” it concluded. The freeze is expected to remain until the Commission concludes its investigation into the alleged diversion of the N11 billion.
