The Economic and Financial Crimes Commission (EFCC) has explained why it placed a Post No Debit (PND) order on the bank accounts of the Osun State Government, saying the action was taken to prevent the alleged diversion of public funds under investigation.
In a statement on Wednesday, the anti-graft agency disclosed that it has been investigating the Osun State Government since March 2026 over the alleged fraudulent handling of Ecology Funds, Intervention Funds and allocations from the Federation Account Allocation Committee (FAAC) amounting to N11 billion. The Commission said several state officials, including the Accountant General, had already been questioned as part of the ongoing investigation.
According to the EFCC, the decision to freeze the accounts became necessary after investigators detected what it described as “precipitate and unwarranted” movement of funds from the government accounts into several suspicious corporate accounts beginning on August 2, 2026.
The Commission said it observed huge transfers to different corporate entities and moved swiftly to halt the transactions by freezing the affected accounts. It stressed that the measure was purely preventive and aimed at protecting public funds while investigations continue.
Responding to concerns that the action could be linked to the forthcoming Osun State governorship election, the EFCC insisted that its decision was not politically motivated. It maintained that its statutory responsibility is to safeguard public resources and that it could not ignore suspicious financial activities simply because an election is imminent.
The anti-corruption agency further disclosed that it is monitoring the finances of several other state governments across the country, noting that many states are currently under investigation as part of its drive to promote accountability and transparency. It reiterated that its operations are non-partisan and carried out solely in the interest of Nigerians.
The EFCC urged members of the public to disregard what it described as false narratives and deliberate attempts to discredit its operations. The Commission maintained that the freezing of the Osun State Government accounts was necessary to prevent the alleged looting of public funds and assured Nigerians that it would continue to discharge its mandate without fear or favour.
