Why we froze Osun Government Account – EFCC
The Economic and Financial Crimes Commission (EFCC) has restricted access to the Osun State Government’s statutory allocation account as part of an ongoing investigation into financial activities linked to the state.
The anti-graft agency directed First Bank to place a Post-No-Debit restriction on the account, stopping withdrawals and transfers from the account while allowing funds to continue coming in.
The directive was contained in a letter dated August 5, 2026, signed by an Assistant Commander of the EFCC, Adenike Babalola, on behalf of the commission’s Director of Investigation.
The affected account, identified as the Osun State Government Statutory Allocation account, was listed with account number 2017170947.
The EFCC said the restriction followed an earlier request sent to First Bank on April 15, 2026, as part of its investigation.
However, the commission did not disclose the specific allegations being examined or the persons connected to the matter.
The agency said the action was taken under provisions of the EFCC Establishment Act and the Money Laundering Prevention and Prohibition Act, which give it powers to request financial records and place restrictions on accounts during investigations.
Following the development, the Osun State Government filed a suit against the EFCC, challenging the decision to block access to the accounts.
The state Attorney General and Commissioner for Justice, Oluwole Jimi-Bada, said Governor Ademola Adeleke instructed him to approach the Federal High Court over the matter.
Jimi-Bada argued that although the EFCC has the right to investigate financial matters, the commission should not restrict government accounts without a court order.
He said the action could affect government operations and make it difficult for the state to meet its responsibilities to residents.
The Commissioner for Finance, Sola Ogungbile, also accused security officials of visiting First Bank’s main branch in Osogbo and arresting some workers. He did not provide further details about the alleged arrests.
Ogungbile also dismissed claims that government funds were being used for Governor Adeleke’s political activities, saying state resources were being used for public services.
He warned that the restriction could affect salaries, government programmes and other activities funded by the state if it remains in place.
The dispute comes ahead of the August 15 governorship election, with Governor Adeleke previously raising concerns over an alleged move to restrict access to government accounts.
The governor had claimed that blocking the accounts could disrupt government activities, while the EFCC maintained that its action was connected to an ongoing investigation.
