THE Economic and Financial Crimes Commission (EFCC) has directed that no money be withdrawn from the Osun State Government’s statutory allocation account as part of an ongoing investigation, a development that comes hours after Governor Ademola Adeleke alleged that the anti-graft agency was planning to freeze the state’s accounts ahead of the August 15 governorship election.
News Point Nigeria reports that the EFCC’s directive was contained in a letter dated August 5, 2026, signed by the Assistant Commander of the EFCC, Adenike Babalola, on behalf of the Director of Investigation, instructing the bank to place a post-no-debit restriction on the account pending the conclusion of the investigation.
The letter, referenced 3000/EFCC/ABJ/HQ/PFS/TA/OSUN/VOL.17/666, was addressed to the Managing Director of First Bank, with attention to the Chief Compliance Officer.
It identified the affected account as “Osun State Government Statutory Allocation”, with account number 2017170947.
According to the commission, the directive followed an earlier correspondence dated April 15, 2026.
The EFCC stated that the request was made pursuant to Section 38(1) and (2) of the Economic and Financial Crimes Commission (Establishment) Act, 2004, and Section 24 of the Money Laundering (Prevention and Prohibition) Act, 2022.
The letter read: “Refer to our letter CR:3000/EFCC/ABJ/HQ/PFS/TA/OSUN/VOL.17/165 dated 15th April, 2026 on the above subject.
“In furtherance to the above, you are kindly requested to place a Post-No-Debit on the account. This request is made pursuant to Section 38 (1) & (2) of the Economic and Financial Crimes Commission (Establishment) Act, 2004 and Section 24 of the Money Laundering (Prevention and Prohibition) Act, 2022.
“Thank you for your usual cooperation, please.”
Sources within the anti-graft agency told The PUNCH that the investigation into the Osun State Government did not begin recently, insisting that the probe had been ongoing for more than one year.
According to one of the sources, several senior officials of the state government had previously honoured invitations from the commission and submitted written statements as part of the investigation.
“We have been investigating the government for over a year. In fact, some top officials of the government had been invited; they came and wrote statements. So it is not because of the forthcoming election,” the source said.
The development followed allegations by Governor Adeleke that the EFCC was working to freeze all bank accounts belonging to the Osun State Government ahead of the governorship election scheduled for August 15.
In a statement issued on Wednesday, the Commissioner for Information and Public Enlightenment, Kolapo Alimi, said the governor raised the alarm on Tuesday at the Government House in Osogbo.
Alimi further alleged that the anti-graft agency was also planning to extend the proposed freeze to the personal accounts of top government functionaries in the state.
According to the statement, Adeleke described the alleged move, if implemented, as “the height of lawlessness,” arguing that it was intended to cripple government activities ahead of the governorship election.
“The governor affirmed that there is no legal basis or justification for any move to freeze the state government accounts, declaring that the anti-graft agency has no legal powers to freeze the account of a state government,” the statement added.
The governor also alleged that any attempt to deny the state access to its financial resources would be politically motivated and aimed at disrupting the activities of his administration before the election.
Efforts to obtain the reaction of the EFCC spokesperson, Dele Oyewale, were unsuccessful as calls to his telephone line were not answered.
He had also yet to respond to a text message seeking comment on the commission’s directive and the governor’s allegations as of the time of filing this report.
Adeleke is seeking re-election on the platform of the Accord Party, while the All Progressives Congress (APC) is battling to reclaim Osun State after four years in opposition.
The governorship race has continued to heighten political tension across the state, with recent weeks witnessing renewed clashes between supporters of the major political parties as they intensify campaigns ahead of the poll.
Speaking on Monday during a campaign rally in Olorunda Local Government Area, Adeleke appealed to President Bola Tinubu to intervene in the rising political violence in the state.
The governor warned against a repeat of the 1983 political crisis in the South-West and urged all stakeholders to ensure that the election is conducted peacefully and credibly.
He also argued that the recent endorsement of President Tinubu’s re-election bid by the Accord Party in Osun should encourage the President to support a peaceful political atmosphere in the state.
According to Adeleke, the President’s intervention is necessary to prevent further “loss of innocent lives” and guarantee a credible electoral process.
“All we are asking for is simply a free and fair election,” the governor said.