Special Adviser to President Bola Tinubu on Information and Strategy, Bayo Onanuga, has shared the Economic and Financial Crimes Commission (EFCC)’s statement defending its decision to freeze the Osun State Government’s bank accounts. Onanuga reposted the statement on his verified X account less than an hour after the anti-graft agency released it on Wednesday.
EFCC explains account freeze
The EFCC said it froze the accounts to prevent the alleged diversion of public funds while investigating suspected financial irregularities involving the Osun State Government. According to the commission, it opened the investigation in March 2026 over the alleged handling of Ecology Funds, Intervention Funds and Federation Account Allocation Committee (FAAC) allocations worth about ₦11 billion.
The anti-graft agency also disclosed that investigators have questioned several state officials, including the Accountant-General, as part of the ongoing probe.
Commission cites suspicious transfers
The EFCC said it imposed a Post No Debit restriction after investigators detected what it described as suspicious transfers of large sums of money into different corporate accounts from August 2, 2026. According to the commission, it would not have restricted the accounts if investigators had not observed what it called the “precipitate and unwarranted movement of funds” during the investigation.
“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.”
EFCC rejects political motive
The commission maintained that freezing the accounts was part of its legal responsibility to safeguard public funds and prevent the alleged misappropriation of government resources. Although it acknowledged the approaching Osun governorship election, the EFCC insisted that the electoral process would not stop it from carrying out its statutory duties.
The agency also disclosed that it is monitoring the finances of other state governments, adding that several states are currently under investigation as part of its accountability drive. It further rejected allegations of political bias and urged Nigerians to disregard what it described as misleading narratives surrounding the freezing of the Osun State Government’s accounts.
Read also: EFCC confirms freezing Osun accounts, cites alleged N11bn fraud probe
