EFCC's Freeze on Osun Accounts Sparks Political Outcry

The Economic and Financial Crimes Commission (EFCC) sought to freeze the bank accounts of the Osun State Government, prompting immediate and vocal opposition from political figures who labeled it an "attack on federalism." Within 24 hours, President Bola Tinubu reversed the EFCC's order. The EFCC Chairman's actions were based on his mandate under Section 6 of the EFCC Act 2004, which allows for the prevention, investigation, and prosecution of economic and financial crimes.

Freezing accounts is described as a preventive measure to protect public funds, not a punishment. The EFCC has previously employed this strategy in other states, such as Edo and Benue, to safeguard funds during investigations into financial misconduct.

For instance, in Edo State, approximately N12 billion was preserved through similar account restrictions. In Kogi State, the EFCC obtained a court order to restrict a salary bailout account containing over ₦20 billion.

These actions aim to ensure that public resources remain intact while audits and investigations are conducted.