Commission cites suspicious withdrawals ahead of governorship election, says probe began in March_
The Economic and Financial Crimes Commission, EFCC, has placed a “Post No Debit” order on the bank account of the Osun State government, citing an ongoing investigation into the alleged fraudulent handling of N11 billion in public funds, the Commission announced in a press statement released Wednesday.
According to the anti-graft agency, investigators have been looking into the Osun State government since March 2026 over suspected mismanagement of Ecology Funds, Intervention Funds, and allocations from the Federal Account Allocation Committee, FAAC. The total amount under scrutiny is N11,000,000,000, or Eleven Billion Naira.
The EFCC said several officials of the state government have already been questioned as part of the probe. Among those invited for interview sessions is the Accountant General of the State.
The Commission said the account would not have been frozen if not for a sudden wave of transactions it flagged as suspicious. “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,” the EFCC stated.
The statement noted that the unusual movement of funds began on August 2, 2026. The EFCC described the withdrawals as “precipitate and unwarranted,” and said the pattern prompted immediate preventive action to stop further outflow. The agency emphasized that the freeze falls under its preventive mandate, which it described as “a public-inclined framework of safeguarding public funds, assets and resources.” “The Commission cannot watch idly while a state government’s account is being pillaged,” the statement added.
The action comes weeks ahead of the scheduled governorship election in Osun State. The EFCC acknowledged the timing but said it would not affect its operations. “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,” the Commission said. “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.”
The EFCC also disclosed that Osun is not the only state under surveillance. The Commission said it is “keeping watch over the finances of other states like Osun State” and that many of them are already “on the investigative radar” to ensure accountability and probity in the management of public resources.
In the statement, the EFCC reaffirmed its commitment to neutrality, saying it “is non-partisan and non-sectarian but always working in the overall interests of Nigerians.” The agency urged members of the public to disregard what it called “false narratives and deliberate demonization of the works of the EFCC.” “The interests of all Nigerians are greater and will always be protected by the Commission,” it concluded.
With the account now under a Post No Debit order, the Osun State government will be unable to make withdrawals until the Commission lifts the restriction or the investigation is concluded. At the time of filing this report, there was no official response from the Osun State government regarding the freeze or the allegations. The EFCC did not specify how long the investigation is expected to last, but said it remains committed to recovering any public funds found to have been misappropriated
