EFCC freezes Osun govt account over N11bn fraud probe

The Economic and Financial Crimes Commission has frozen the Osun State Government's bank account over an ongoing investigation into the alleged fraudulent handling of about N11 billion in public funds. The anti-graft agency said it acted to prevent further movement of funds, insisting the move is unrelated to the forthcoming governorship election in the state.

In a statement issued yesterday by its Head of Media and Publicity, Dele Oyewale, the EFCC said it has been investigating the Osun State Government since March 2026 over alleged mismanagement of Ecology Funds, Intervention Funds and FAAC allocations. The Commission said it placed a Post No Debit order on the accounts after discovering what it called "precipitate and unwarranted" transfers of funds to multiple suspicious accounts beginning on August 2.

"The Commission cannot watch idly while a state government's account is being pillaged," the statement read. The EFCC also disclosed it is monitoring the finances of several other states. With the Osun governorship election approaching, the question on many lips is whether this is genuine accountability or political warfare dressed as anti-corruption. What do you make of this timing?