EFCC Explains Freezing of Osun Accounts, Cites Suspicious Fund Transfers Ahead of Poll

The Economic and Financial Crimes Commission has clarified its decision to freeze the bank accounts of the Osun State Government, stating that the action was necessary to halt the alleged diversion of public funds.

According to the anti-graft agency, an ongoing investigation launched in March 2026 revealed the questionable handling of about 11 billion Naira in Ecology, Intervention, and Federation Account funds. While the investigation alone would not have triggered a block, the commission stated it detected suspicious, heavy transfers into various corporate entities starting August 2, prompting immediate preventive measures despite the upcoming August 15 governorship election.

The EFCC defended its constitutional mandate to safeguard public resources, maintaining that upcoming elections do not grant immunity against financial oversight.

In response, Osun State Governor Ademola Adeleke strongly condemned the action as illegal, asserting it was executed without a valid court order. The governor has directed the state’s Attorney General and Commissioner for Justice, Oluwole Jimi-Bada, to challenge the directive at the Federal High Court.