EFCC Freezes Osun State Government Account Over Alleged N11 Billion Fraud

The Economic and Financial Crimes Commission (EFCC) has frozen a bank account belonging to the Osun State Government as part of an investigation into the alleged fraudulent handling of approximately N11 billion in ecological, intervention, and Federal Account Allocation Committee funds. The anti graft agency stated that the investigation began in March 2026 and has included the questioning of several state officials, including the Accountant General.

According to the EFCC, the decision to impose a Post No Debit order on the account, which is domiciled with First Bank, was triggered by the precipitate and unwarranted movement of funds into multiple suspicious corporate entities since August 2, 2026. The commission asserted that the action was necessary to protect public funds from being looted and denied that the timing was politically motivated, despite the upcoming governorship election on August 15.

Governor Ademola Adeleke and the Osun State Government have condemned the move as unlawful and politically motivated. The governor argued that the restriction is designed to paralyze government operations and trample upon the rights of subnational governments. The state Attorney General and Commissioner for Justice, Oluwole Jimi Bada, questioned the legality of the action, maintaining that the EFCC lacks the constitutional authority to freeze a state government account without due legal process.

Both reports, provided by center leaning outlets, present the conflict as a clash between a federal anti corruption mandate and claims of political persecution. While the EFCC frames the freeze as a statutory responsibility to safeguard public assets, the state government frames it as a sponsored attack intended to cripple the administration ahead of the election.