EFCC to Lift Osun State Account Restriction Soon

The Economic and Financial Crimes Commission (EFCC) stated that the temporary restriction on an Osun State Government bank account will be lifted once investigators are satisfied that the account's transactions are no longer suspicious. EFCC Director of Public Affairs, Wilson Uwujaren, explained that the restriction is a preventive measure to preserve funds while investigating alleged suspicious financial transactions linked to the Osun State Government.

The EFCC observed unusual fund movements from the account to various entities over the past week, leading to the "Post No Debit" restriction. Uwujaren clarified that this action does not freeze all Osun State Government accounts but targets a specific account.

He emphasized that the restriction would not hinder governance, as the government retains access to other accounts. Uwujaren also mentioned that the EFCC has the legal authority to impose such restrictions under Section 34 of the EFCC Act and Section 7(6) of the Money Laundering (Prevention) Act.