THE Economic and Financial Crimes Commission (EFCC) has responded to allegations by Osun State Governor Ademola Adeleke over the freezing of the state government’s bank account, saying the action was taken to prevent the alleged movement of public funds under investigation and was not connected to the forthcoming election.
In a statement sent to News Point Nigeria on Wednesday, the anti-graft agency said it was compelled to explain its decision “without prejudice to the imminent governorship election in the state.”
“The Commission has been busy investigating the Osun State Government since March, 2026, regarding alleged fraudulent handling of Ecology Funds, Intervention Funds and Federal Account Allocation Committee (FAAC) account to the tune of ₦11,000,000,000 only,” a statement by the Head, Media and Publicity, Dele Oyewale, partly read.
According to the EFCC, the investigation has involved questioning some state government officials, including the Accountant General of the state.
“To this end, some officials of the state government, especially the Accountant General of the State, have had interview sessions with investigators of the EFCC.
“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,” it said.
The anti-corruption agency said the decision was in line with its mandate to protect public resources.
“The EFCC’s preventive mandate is a public-inclined framework of safeguarding public funds, assets and resources.
“The Commission cannot watch idly while a state government’s account is being pillaged. 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.
“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 agency added.
The EFCC further stated that Osun is not the only state under its watch, noting that investigations are ongoing into the finances of several other states.
“It is equally needful to state that the Commission is keeping watch over the finances of other states like Osun State. Many of these states 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. The Osun State government account was frozen to save public funds from being looted,” it stated.
The EFCC urged members of the public to disregard what it described as misleading accounts of its actions.
“The public is enjoined to ignore 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.”
Adeleke had during a presser on Wednesday alleged that the state government account with a commercial bank was frozen 10 days before the governorship election, an action he said was unconstitutional.