EFCC Freezes Osun State Accounts Over N11bn Fund Mismanagement Probe

Nigeria's Economic and Financial Crimes Commission has restricted access to bank accounts held by the Osun State Government as part of an investigation into the suspected mishandling of approximately N11 billion in public money. The agency said the account freeze was implemented to safeguard state funds from being diverted while its inquiry continues.

The EFCC launched its investigation into the state's financial management in March 2026, focusing on three categories of funds: Ecology Funds, Intervention Funds, and allocations received through the Federation Account Allocation Committee. The agency disclosed its action through a statement posted on its official social media channels on Wednesday.

The timing of the freeze has drawn attention because it coincides with Osun State's scheduled August 15 governorship election. Governor Ademola Adeleke characterised the EFCC's decision as politically motivated, according to reports, though the anti-graft agency has maintained that the measure is a standard protective action during financial investigations.

The EFCC's statement emphasised that the account restriction forms part of broader enforcement measures designed to preserve public resources pending the completion of its probe. The agency did not provide a timeline for when the investigation would conclude or when restrictions might be lifted.

No charges have been filed against any individuals or entities as of the time of reporting.