The Economic and Financial Crimes Commission has justified its decision to restrict access to the Osun State Government’s bank account, saying the action was necessary to prevent the alleged diversion of public funds currently under investigation.

The anti-graft agency, in a statement on Wednesday by its Head of Media and Publicity, Dele Oyewale, dismissed claims that the move was politically motivated or linked to the state’s upcoming governorship election.

The commission said it issued the clarification to address public concerns and allegations surrounding the account restriction.

The EFCC said its investigation into the Osun State Government began in March 2026 over alleged mismanagement of Ecology Funds, Intervention Funds and allocations received from the Federation Account Allocation Committee, involving about N11 billion.

“The Commission has been busy investigating the Osun state government since March, 2026, regarding alleged fraudulent handling of Ecology Funds, Intervention Funds and Federal Account Allocation Committee, FAAC account to the tune of N11,000,000,000 (Eleven Billion Naira only),” the statement said.

The commission added that some state officials, including the Accountant General, had appeared before its investigators as part of the ongoing probe.

“To this end, some officials of the state government, especially the Accountant General of the State, have had interview sessions with investigators of the EFCC,” it added.

The commission said although the investigation had been ongoing for months, it only placed a Post-No-Debit restriction on the accounts after detecting what it described as suspicious movements of funds beginning on August 2

“These ongoing investigations of the state government would not have warranted any placement of Post No Debit order on its account but for the precipitate and unwarranted movement of funds from the accounts to different suspicious accounts since August 2, 2026,” the Commission said.

“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 EFCC maintained that the decision was in line with its statutory responsibility to protect public funds and prevent financial crimes, insisting the action was necessary to preserve the integrity of its ongoing investigation.

The EFCC acknowledged the approaching Osun State governorship election but insisted that the timing of the account restriction was driven solely by findings from its ongoing investigation and had no political motive.

The EFCC further stated that Osun State is not the only state under investigation, noting that it is scrutinising the finances of several state governments as part of its statutory mandate to combat corruption and safeguard public funds.

“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 statement read.

The EFCC reaffirmed its neutrality, insisting that its actions are driven by the need to protect public funds and uphold the law, not by political considerations.