Ecnomic and Financial Crimes Commission (EFCC) has explained its decision to freeze the bank accounts of the Osun State Government, saying the action was taken to prevent the alleged diversion of public funds currently under investigation.

In a statement released on Wednesday, the anti-graft agency said the restriction on the state’s accounts was part of its statutory responsibility to safeguard public resources and was not influenced by the forthcoming Osun State governorship election.

According to the Commission, investigations into the financial activities of the Osun State Government began in March 2026 following allegations involving the handling of Ecology Funds, Intervention Funds, and allocations from the Federation Account Allocation Committee (FAAC).

The EFCC alleged that about ₦11 billion is being investigated over suspected fraudulent financial transactions.

The Commission disclosed that several state government officials, including the Accountant General of Osun State, have already been questioned as part of the ongoing investigation.

The EFCC stated that it did not initially consider freezing the government’s accounts while the investigation was ongoing.

However, it claimed that investigators detected what they described as sudden and suspicious movements of funds from the state’s accounts beginning on August 2, 2026.

According to the Commission, large sums of money were allegedly transferred from government accounts into several corporate accounts considered suspicious, prompting the agency to place a Post No Debit order on the affected accounts.

The anti-corruption agency said the move was intended to stop further transfers while investigations continue.

Defending its action, the EFCC insisted that its preventive powers require it to act whenever public funds are believed to be at risk.

The Commission maintained that it could not ignore transactions it considered suspicious simply because a governorship election is approaching in Osun State.

According to the statement, allowing such transfers to continue would amount to abandoning its legal responsibility to protect public assets.

The EFCC stressed that its intervention was aimed solely at preserving state funds pending the outcome of its investigation.

The Commission also revealed that Osun is not the only state under financial scrutiny.

According to the EFCC, several other state governments are currently being monitored and investigated as part of its broader efforts to promote accountability, transparency, and prudent management of public resources across Nigeria.

The agency maintained that its operations are non-partisan and guided strictly by the law, regardless of the political affiliations of those involved.

The anti-graft agency urged members of the public to disregard what it described as misleading narratives surrounding the freezing of the Osun State Government’s accounts.

The Commission insisted that its actions were taken exclusively in the public interest and reaffirmed its commitment to protecting public funds and combating financial crimes.

The statement concluded that the EFCC would continue to discharge its constitutional responsibilities without fear or favour, emphasizing that the interests of Nigerians remain its highest priority.