EFCC Freezes Osun State Accounts Over Fund Mismanagement

The Economic and Financial Crimes Commission (EFCC) has frozen the bank accounts of the Osun State Government to prevent the alleged diversion of public funds, clarifying that this action is unrelated to the upcoming governorship election. The EFCC, through its Head of Media and Publicity, Dele Oyewale, stated that the investigation into the Osun State Government began in March 2026, focusing on the alleged fraudulent management of Ecology Funds, Intervention Funds, and allocations from the Federation Account Allocation Committee (FAAC), totaling about N11 billion.

The agency noted that several top officials, including the Accountant General of Osun State, have been questioned. The EFCC initially did not intend to freeze the accounts but acted after detecting significant fund transfers to suspicious corporate entities starting August 2, 2026.

The agency emphasized that its operations are independent of political considerations and are aimed at ensuring accountability in public resource management.