Calls for the removal of the Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, intensified on Friday as opposition parties and many Nigerians reacted to the freezing of the Osun State Government’s accounts.
Many critics, including the Accord Party, New Nigeria People’s Party (NNPP), and several online commentators, accused the anti-graft agency of partisanship, claiming the move was politically motivated ahead of the August 15 governorship election. They urged President Bola Tinubu to dismiss Olukoyede if he refused to resign, especially after the President publicly distanced himself from the EFCC’s actions.
The controversy began when the EFCC, citing suspicious transactions, ordered a Post No Debit on Osun State Government’s account with First Bank on Wednesday. The agency claimed it had been investigating the account since March 2026 and asserted its right to freeze accounts for up to 72 hours based on reasonable suspicion.
However, President Tinubu, describing the EFCC’s action as “embarrassing,” directed the agency on Thursday to unfreeze the account. The commission’s explanation for its action drew over 4,500 critical comments on X (formerly Twitter), with many users condemning the move so close to the election. Similarly, a tweet by presidential adviser Bayo Onanuga announcing the reversal attracted over 1,600 comments, many criticizing both Tinubu and the EFCC.
Opposition Parties Lose Confidence
At a press conference in Abuja, Accord Party National Chairman Maxwell Mgbudem declared that his party had lost confidence in the EFCC’s leadership, citing political bias.
“Accord demands the immediate resignation of the EFCC chairman. For embarrassing the President, the government, and the people of Osun State, he should resign. If he fails, President Tinubu should sack him to restore the agency’s integrity,” Mgbudem said.
He insisted there must be no “sacred cows” in the fight against corruption and called on security agencies to remain neutral during the election.
NNPP National Chairman Major Agbo also backed calls for Olukoyede’s resignation and expressed concern about the EFCC’s independence, saying the President should have allowed the investigation to run its course.
“The timing may have been wrong, but the EFCC was carrying out its mandate. Asking the EFCC to unfreeze the account undermines its independence,” Agbo said.
Dr. Yunusa Tanko, National Coordinator of the Obidient Movement Worldwide, advised Olukoyede to resign to protect his reputation, arguing that Tinubu’s intervention suggested political influence over the EFCC.
Public Outcry Online
Social media users echoed these sentiments, with many urging Olukoyede to step down. Some accused the EFCC of acting under APC influence, while others described the situation as “shameful” and warned of further damage to the agency’s credibility.
Presidency, Falana Reject Resignation Demands
Despite the mounting criticism, sources within the Presidency said Olukoyede’s job was not at risk, asserting that Tinubu’s frustration was directed at the timing, not the EFCC chairman personally.
Human rights lawyer Femi Falana also defended Olukoyede, arguing the EFCC acted within its legal powers and that the President has no authority to direct the agency’s affairs.
“The EFCC has the power under the law to freeze any account for up to 72 hours where it suspects fraudulent activity. If a court order was issued, the proper response is to approach the court to set it aside,” Falana said.
Labour Party spokesperson Ken Asogwa, while expressing concern about presidential interference, stopped short of calling for Olukoyede’s resignation.
Reps Minority Caucus Questions Contradictions
The House of Representatives’ minority caucus criticized what it called contradictions between the EFCC’s public explanation and the President’s directive, describing Tinubu’s order as a “panicky, belated afterthought.” The caucus alleged a pattern of federal intimidation and economic pressure against Osun ahead of the governorship poll, including the alleged withholding of local government allocations and failing to curb political violence.
“The APC has weaponised federal institutions against opposition states — a dress rehearsal for future elections,” the caucus warned.
Court Order Confirms EFCC Action
Meanwhile, a certified true copy of a court order obtained by the EFCC confirmed that the Federal High Court in Abuja had granted the agency’s request to freeze three Osun State Government accounts, pending investigation into alleged diversion of funds and money laundering. The order, issued August 5, 2026, by Justice M.G. Umar, specifically authorized the EFCC to freeze the accounts under investigation.
