The Economic and Financial Crimes Commission (EFCC) has frozen the Osun State Government’s bank accounts to prevent the suspected diversion of public funds. The anti-graft agency clarified that this preventive action is part of an ongoing investigation into alleged financial misconduct within the state’s administration.

The commission revealed it has been tracking the state’s finances since March 2026 over the suspected mismanagement of approximately ₦11 billion. The scrutinized finances include Ecology Funds, special Intervention Funds, and statutory allocations from the Federation Account Allocation Committee (FAAC).

According to the EFCC, several state officials, including the Accountant General, have been questioned as part of the investigation.

The Commission said the decision to place a Post No Debit order on the state’s accounts followed the discovery of what it described as suspicious transfers of large sums of money into various corporate accounts beginning on August 2, 2026.

It noted that the accounts would not have been frozen if not for the “precipitate and unwarranted movement of funds” observed during the investigation.

The EFCC said the action was in line with its statutory responsibility to safeguard public funds and prevent the alleged looting of government resources.

While acknowledging the forthcoming governorship election in Osun State, the Commission insisted that the electoral process could not prevent it from carrying out its legal responsibilities.

“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 statement read.

The anti-corruption agency also disclosed that it is monitoring the finances of other states, noting that several state governments are under investigation as part of efforts to promote accountability and transparency in the management of public funds.

Reaffirming its neutrality, the EFCC maintained that it is non-partisan and acts solely in the interest of Nigerians.

The Commission urged the public to disregard what it described as false narratives surrounding the freezing of the Osun State Government’s accounts, insisting that the measure was taken to protect public funds pending the outcome of its investigation .