By Luminous Jannamike
The Economic and Financial Crimes Commission, EFCC, on Wednesday night defended its decision to freeze the Osun State Government’s bank accounts, insisting the action was aimed at stopping the alleged diversion of about N11 billion in public funds under investigation and was not connected with the state’s forthcoming governorship election.
The anti-graft agency said it stepped in after investigators uncovered what it described as an unusual wave of fund transfers from government accounts into several corporate entities, arguing that allowing the transactions to continue would have amounted to looking the other way while public money was
allegedly being siphoned out.
In a statement by its Head of Media and Publicity, Dele Oyewale, the Commission said it had 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.
