The Economic and Financial Crimes Commission (EFCC) has addressed claims by Osun State Governor Ademola Adeleke concerning the freezing of the state government’s bank account.
The EFCC clarified that the move was to prevent the suspected diversion of public funds currently under investigation, and not related to the upcoming governorship election.
In a statement issued on Wednesday, the agency explained its actions, emphasizing that its decision to freeze the account was made without prejudice to the imminent governorship election in the state.
According to Dele Oyewale, Head of Media and Publicity, the EFCC has been investigating Osun State since March 2026 over alleged mismanagement of Ecology Funds, Intervention Funds, and the Federal Account Allocation Committee (FAAC) account, amounting to ₦11 billion.
The EFCC disclosed that several government officials, including the state’s Accountant General, have been questioned during the course of the investigation. The agency stressed that the freezing order was only imposed after it detected unusual and suspicious transfers from government accounts to various corporate entities starting August 2, 2026.
“The Commission observed significant transfers of funds into different corporate entities and acted swiftly by freezing the accounts to halt the movement of these large sums,” the statement said. The EFCC reiterated that this action aligns with its core mandate to protect public resources and prevent the misappropriation of state assets.
“The EFCC cannot stand by while public funds are at risk of being looted. While we recognize the proximity of the governorship election in Osun, our duty is to defend the integrity of state funds regardless of the political calendar,” the agency added.
