EFCC Justifies 72-Hour Account Freeze on Osun State

The Economic and Financial Crimes Commission (EFCC) defended its decision to temporarily restrict access to a bank account belonging to the Osun State Government, asserting that the action was lawful and supported by the EFCC Act and the Money Laundering (Prohibition) Act. EFCC spokesperson Wilson Uwujaren stated that the restriction was due to suspicious transactions detected over the past week, aimed at preserving public funds during ongoing investigations.

He clarified that only one account was affected, not all government accounts, and that the state could still operate financially through other accounts. Uwujaren dismissed claims that the restriction hindered the state's financial operations, noting that salaries and obligations could still be met.

He cited Section 34 of the EFCC Act and Section 7(6) of the Money Laundering Act 2022 as legal grounds for the action, which can last up to 72 hours without a court order. The EFCC began investigating the Osun State Government in March 2026 regarding the alleged mismanagement of approximately ₦11 billion from various funds.