The Economic and Financial Crimes Commission (EFCC) Tuesday said the Osun state government was frozen over alleged fraudulent handling of Ecology Funds, Intervention Funds and Federal Account Allocation Committee (FAAC) accounts to the tune of N11 billion.
To this end, the anti-graft agency said some officials of the state government, especially the Accountant General of the State, have had interview sessions with investigators of the EFCC.
The commission in a statement issued Wednesday said the clarification became imperative to publicly address issues pertaining to its preventive moves in freezing the bank account of the Osun State government.
It noted: “The Commission has been busy investigating the Osun state government since March, 2026, regarding alleged fraudulent handling of Ecology Funds, Intervention Funds and Federal Account Allocation Committee, FAAC account to the tune of N11, 000,000, 000.
“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.”
It added that the preventive mandate is a public-inclined framework of safeguarding public funds, assets and resources.
It said: “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 funds of the state.
“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 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 Commission stressed that it has always pointed out that it is non-partisan and non-sectarian but always working in the overall interests of Nigerians.
it maintained that the Osun State government account was frozen to save public funds from being looted.
It urged the public to ignore false narratives and deliberate demonisation of the works of the EFCC.