President Bola Tinubu ordered the Economic and Financial Crimes Commission to freeze the account of the Osun State Government, sources in the Aso Rock Villa have claimed.
According to two sources familiar with the incident, the EFCC did not act without the President’s consent.
Recall that there was drama when the EFCC placed a restriction on the Osun State Government accounts last week, about 10 days before the governorship election in the state.
The development sparked public controversy as many suspected that the action was politically motivated, given the fast-approaching election slated for Saturday, August 15, 2026.
The EFCC had, in a statement issued by the Head of Media and Publicity, Dele Oyewale, on August 5, explained that it took the action as part of investigations into suspected fraudulent financial activities involving the state government’s accounts.
“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 N11bn. To this end, some officials of the state government, especially the Accountant General of the State, have had interview sessions with investigators of the EFCC.”
It cited the “unwarranted movement of funds from the accounts to different suspicious accounts since August 2, 2026” as reason for the action.
But the Osun government denied any financial misappropriation, accusing the EFCC of pursuing a politically motivated investigation.
“All material facts point to the fact that the commission is pursuing a hatchet job for the Osun APC by illegally freezing the state account and falsely accusing the government of looting ecological and other state funds,” the state Commissioner for Information and Enlightenment, Kolapo Alimi, said in a statement on August 6.
It was further gathered that up to 18 states were being investigated by the EFCC, although details of the states have not been provided.
Tinubu has said he did not have prior knowledge of the action of the EFCC in freezing the accounts of the Osun government, saying he felt embarrassed by the timing.
In a statement dated August 6, the President said, “I must state that I feel deeply embarrassed not by the EFCC’s exercise of its mandate backed by a court order, but by the timing of the agency’s action. This is so because every action taken by an institution of State, especially at the Federal level, is always credited to me, as the President, even when I may not have had any prior knowledge of the action.”
He insisted that since assuming office, he had consistently maintained that anti-corruption and law enforcement agencies must be allowed to discharge their statutory responsibilities independently and professionally, without fear or favour, or political interference.
“I have therefore deliberately refrained from directing or interfering in the operational activities of the EFCC or any other investigative or prosecutorial agency because I firmly believe that strong democratic institutions, operating within the confines of the law, are indispensable to democratic good governance and the rule of law,” Tinubu said.
He therefore directed the EFCC to proceed to court to vacate the order and discontinue whatever action it had instituted against the Osun State Government in this regard.
But according to a Villa source, who spoke with Third Lens on the condition of anonymity because he was not authorised to speak on the matter, the President was informed by the EFCC of the suspicious movement of funds from the state government accounts.
He said funds were reported to have been moved to other private accounts a few days before the election, and this made Tinubu approve the EFCC’s bid to freeze the accounts.
“The EFCC chairman informed the President of the suspicious movement of funds from the accounts of the state government of Osun to private accounts such as firms. And the President said they should freeze the accounts.
“So the President was aware and he ordered it. What the president did after the public backlash due to the elections in the state was done to save Tinubu’s face,” the source claimed.
Another source in the Villa told Third Lens that the EFCC Chairman, Ola Olukoyede, was only thrown under the bus.
“The EFCC chairman was thrown under the bus after the criticisms. In order to portray Tinubu as being democratic, the President had to issue that statement ordering the EFCC to reverse its action. But he was actually aware of the EFCC’s action,” the source said.
However, Third Lens further gathered that the EFCC has eventually vacated the order to freeze the accounts of the state government.
Presidential spokesman, Bayo Onanuga, could not be reached for comment as his line was busy when called.
Efforts to get the official EFCC’s reaction proved abortive as the spokesperson, Oyewale, declined to comment on the matter when contacted.
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