The Economic and Financial Crimes Commission and the Osun State Government are trading accusations after the EFCC froze the state’s First Bank account over alleged mismanagement of N11 billion.
In a statement Wednesday night, EFCC spokesman Dele Oyewale said the commission placed a Post No Debit order on the account to stop suspicious transactions linked to Ecology Funds, Intervention Funds and FAAC allocations.
He said the agency has been investigating Osun since March 2026, and that the Accountant-General and some officials have already been interviewed.
According to Oyewale, the EFCC detected large transfers to different corporate accounts from August 2 and acted to protect public funds. He insisted the action has nothing to do with the August 15 governorship election.
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“The commission cannot watch idly while a state government’s account is being pillaged,” the statement read. It added that the EFCC’s preventive mandate is to safeguard public resources and that several other states are also under investigation.
Governor Ademola Adeleke rejected the move. Speaking at Oke Fia Government House, he said the bank forwarded an EFCC letter directing the freeze without a court order.
“This action was taken without any court order. We are supposed to be in a democracy where the rule of law must prevail,” Adeleke said.
He said the Attorney-General and Commissioner for Justice has been directed to challenge the freeze at the Federal High Court in Osogbo. The governor described the move as the latest in a pattern of intimidation against his administration and members of the Accord party ahead of the poll.
Adeleke called on EFCC Chairman Olanipekun Olukoyede to publicly explain the basis for the freeze and provide proof.
Despite the development, he said the government would continue its re-election campaign.
