The Economic and Financial Crimes Commission (EFCC) has explained the reasons behind its decision to freeze the bank account of the Osun State Government, insisting that the action was taken to safeguard public funds and was not influenced by the forthcoming governorship election in the state.

In a statement issued 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 Federal Account Allocation Committee (FAAC) allocations amounting to ₦11 billion.

According to the EFCC, several government officials, including the Accountant General of Osun State, have already been questioned as part of the ongoing investigation.

The Commission stated that although the investigation had been ongoing for months, it only decided to place a Post No Debit (PND) order on the state’s accounts after detecting what it described as suspicious movements of funds beginning August 2, 2026.

The EFCC alleged that large sums of money were being transferred from government accounts into several corporate accounts considered suspicious, prompting the Commission to immediately freeze the accounts to prevent further transactions.

“The Commission cannot watch idly while a state government’s account is being pillaged,” the statement said, stressing that its constitutional responsibility is to protect public funds and ensure accountability, regardless of the political calendar.

Addressing concerns over the timing of the action, coming just days before the Osun governorship election, the EFCC maintained that the operation was purely based on intelligence and evidence gathered during its investigation and had no political motive.

The anti-corruption agency further revealed that Osun is not the only state under investigation, noting that the finances of several other states are also being monitored to promote transparency and accountability in the management of public resources.

Reaffirming its commitment to impartiality, the Commission described itself as a non-partisan institution working solely in the interest of Nigerians.

The EFCC also urged members of the public to disregard what it called false narratives and attempts to discredit its operations, insisting that the freezing of the Osun State Government’s account was necessary to prevent the alleged looting of public funds while investigations continue.