EFCC: We Froze Osun Govt Account After Spotting N11bn “Suspicious Transfers”

By Victor Idajil

The EFCC says the reason it blocked Osun State’s bank account is simple to stop public money from being moved illegally while it investigates.

In a letter dated August 5, 2026, signed by Adenike Babalola for the Director of Investigation, the commission told First Bank to place a “post-no-debit” on the “Osun State Government Statutory Allocation” account, 2017170947. That means no withdrawals until the probe is done. The letter referenced an earlier EFCC correspondence from April 15, 2026.

Osun government wasn’t having it. Officials called the move a witch-hunt and said it’s aimed at pressuring the Adeleke administration ahead of the governorship election. 
State Attorney-General and Commissioner for Justice, Oluwole Jimi-Bada, told reporters on Wednesday that Osun is considering legal action over the freeze.

The EFCC, however, said politics has nothing to do with it.

In a statement released the same day, the commission explained it has been looking into Osun since March 2026 over allegations of mismanaging Ecology Funds, Intervention Funds and FAAC allocations worth about N11 billion. As part of that, several officials including the Accountant General have been questioned.

According to the EFCC, it wasn’t planning to freeze anything until August 2, when it noticed “unwarranted” transfers. Large amounts, it said, started moving from government accounts into accounts owned by different companies.

“We would not have placed a Post No Debit order if not for the sudden movement of funds to suspicious accounts since August 2, 2026,” the agency said. It described the freeze as a step to stop the “pillaging” of public funds.

The commission also pushed back on claims that the timing is political. 
“It will be uncharitable for the Commission to allow an excuse of an upcoming election to fold its arms to perform its legally assigned functions,” it stated.

The EFCC added that Osun is not the only state under watch. It said it’s monitoring finances in several other states as part of efforts to ensure transparency and accountability.

For now, the account remains frozen. The EFCC says the restriction will stay until investigations are concluded, and that its actions are driven only by its mandate to protect public resources, not by party politics.