Nigeria’s anti-corruption agency, the Economic and Financial Crimes Commission (EFCC), has ordered the freezing of a bank account belonging to the Osun State Government from South-West Nigeria, citing suspicious movements of public funds linked to an ongoing investigation into alleged financial misconduct involving about N11 billion ($8,080,000).
In a statement published on its official X account, the EFCC said the investigation began in March 2026 and centres on the alleged misuse of Ecology Funds, Intervention Funds and allocations from the Federal Account Allocation Committee (FAAC).
“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,” EFCC wrote in its statement.
The action has intensified a growing dispute between the federal anti-graft agency and the Osun State Government, which has accused the EFCC of acting outside its legal authority and attempting to interfere in the state’s affairs ahead of the governorship election.
The commission said several officials, including the state’s Accountant-General, had already been questioned as part of the investigation.
Osun rejects action
The Osun State Government has strongly opposed the move, describing it as unlawful and politically motivated.
Governor Adeleke argued that freezing the accounts would disrupt government operations during the election period and alleged that the action was aimed at undermining his administration ahead of the governorship poll.
The state’s Attorney-General and Commissioner for Justice, Oluwole Jimi-Bada, also challenged the legality of the restriction, insisting that the EFCC does not have the constitutional authority to freeze a state government’s accounts without following due legal process.
The EFCC dismissed claims that the timing of the action was politically driven, saying its intervention was necessary to safeguard public resources.
“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.
