By David Oluyide
The Economic and Financial Crimes Commission has said it is investigating the Osun State Government over the alleged fraudulent handling of about N11bn in Ecology Funds, Intervention Funds and Federal Account Allocation Committee allocations.
The anti-graft agency disclosed this in a statement on Wednesday while explaining its decision to freeze the state government’s account ahead of the forthcoming governorship election in the state.
The EFCC said the investigation commenced in March 2026, adding that some officials of the state government, including the Accountant General, had appeared before its investigators for questioning.
According to the commission, the ongoing investigation would ordinarily not have warranted the placement of a Post No Debit order on the state government’s account.
However, it said it was compelled to take preventive action after detecting what it described as “precipitate and unwarranted movement of funds” from the accounts to different suspicious accounts from August 2, 2026.
The EFCC said it observed huge transfers to various corporate entities and consequently froze the accounts from which the funds were being moved.
“The Commission cannot watch idly while a state government’s account is being pillaged,” the statement said.
The commission said its action was part of its preventive mandate to safeguard public funds, assets and resources.
It acknowledged the proximity of the governorship election but maintained that the election could not prevent it from carrying out its statutory responsibilities.
“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 said.
The EFCC also disclosed that it was monitoring the finances of other states, stressing that several state governments were on its investigative radar to ensure accountability and probity.
The commission reiterated its claim of being non-partisan and non-sectarian, saying its activities were carried out in the overall interest of Nigerians.
It said the Osun State Government account was frozen to prevent public funds from being looted.
The anti-graft agency urged members of the public to disregard what it described as false narratives and deliberate attempts to demonise its activities.
“The interests of all Nigerians are greater and will always be protected by the Commission,” it added.
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