By Lizzy Chirkpi
The Economic and Financial Crimes Commission (EFCC) has defended its decision to place a “Post No Debit” restriction on an Osun State Government bank account, saying the action was taken to prevent the alleged diversion of public funds under investigation.
The anti-graft agency said the restriction was unrelated to the August 15 Osun State governorship election but formed part of an ongoing investigation into the alleged mismanagement of about N11 billion in Ecology Funds, Intervention Funds and allocations from the Federation Account Allocation Committee (FAAC).
The clarification came hours after Governor Ademola Adeleke accused the EFCC of unlawfully freezing a state government account used for the payment of workers’ salaries without first obtaining a court order.
Addressing journalists on Wednesday at the Government House in Osogbo, Adeleke described the action as unconstitutional and a threat to democracy. He said the state government received a letter from its banker informing it of the EFCC’s directive to freeze the account.
The governor also maintained that despite repeated invitations extended to key officials of his administration, including accounting officers, investigators had found no evidence of wrongdoing by the state government.
However, in a statement signed by its Head of Media and Publicity, Dele Oyewale, the EFCC disclosed that it had been investigating the Osun State Government since March 2026 over the alleged handling of public funds.
According to the Commission, several officials, particularly the State Accountant-General, have been questioned as part of the investigation.
The EFCC explained that it initially had no intention of restricting the state’s accounts but was compelled to act after detecting what it described as suspicious movements of funds beginning on August 2, 2026.
According to the statement, “These ongoing investigations of the state government would not have warranted any placement of Post No Debit order on its account but for the precipitate and unwarranted movement of funds from the accounts to different suspicious accounts since August 2, 2026. The Commission noticed huge transfers of funds into different corporate entities and had to swiftly halt the trend by freezing the accounts from which such heavy funds are being moved.”
The Commission said the restriction was a preventive measure aimed at safeguarding public resources.
It stated: “The EFCC’s preventive mandate is a public-inclined framework for safeguarding public funds, assets and resources. The Commission cannot watch idly while a state government’s account is being pillaged. While the Commission is fully aware of the impending governorship election in Osun State, it has a responsibility to act in defence of the sanctity of the state’s funds. It would be uncharitable for the Commission to allow the excuse of an upcoming election to prevent it from performing its legally assigned functions.”
The anti-graft agency further noted that Osun was not the only state under scrutiny, stressing that the finances of several other states were also being monitored as part of efforts to promote accountability and transparency.
“It is equally needful to state that the Commission is keeping watch over the finances of other states like Osun State. Many of these states are on the investigative radar of the Commission to ensure accountability and probity,” the statement added.
Rejecting allegations of political bias, the EFCC insisted that its operations remain non-partisan and are driven solely by the need to protect public funds.
“The Osun State Government account was frozen to save public funds from being looted,” the Commission said, urging Nigerians to disregard what it described as false narratives and attempts to demonise its work.
The development has further heightened political tension in Osun State ahead of the August 15 governorship election, with the legality of the account restriction expected to become the subject of judicial review.