…Osun Govt Account under Investigation Over N11bn Fraud Allegations, alleged fraudulent handling of Ecology, FAAC Funds
The Economic and Financial Crimes Commission, EFCC, has explained that it froze the Osun State government account to prevent alleged looting of public funds ahead of the state’s governorship election.
In a statement, the Commission said it has been investigating the Osun State government since March 2026 over alleged fraudulent handling of Ecology Funds, Intervention Funds and Federal Account Allocation Committee, FAAC, funds to the tune of N11,000,000,000.
The EFCC said some officials, including the Accountant General of the State, have had interview sessions with its investigators.
According to the Commission, it would not have placed a Post No Debit order on the account but for “precipitate and unwarranted movement of funds” from the accounts to different suspicious accounts since August 2, 2026.
“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 statement said.
The EFCC stated that its preventive mandate is to safeguard public funds and assets, adding that it cannot allow an excuse of an upcoming election to prevent it from performing its duties.
“The EFCC’s preventive mandate is 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. 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 will be uncharitable for the Commission to allow an excuse of an upcoming election to fold its arms to perform its legally-assigned functions.
“It is equally needful to state that the Commission is keeping watch over the finances of other states like Osun State. Many of these states are on the investigative radar of the Commission to ensure accountability and probity. The Commission has always pointed out that it is non-partisan and non-sectarian but always working in the overall interests of Nigerians. The Osun State government account was frozen to save public funds from being looted.”
The public is enjoined to ignore 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.
