By SUNTV Global Channel News Desk
ABUJA, Nigeria | Thursday, August 6, 2026
The Economic and Financial Crimes Commission (EFCC) has defended its decision to place a temporary restriction on one of the Osun State Government’s bank accounts, maintaining that the action was lawful and aimed at safeguarding public funds amid ongoing investigations into alleged financial misconduct.
Speaking during an interview on Arise News, the EFCC’s Director of Public Affairs, Wilson Uwujaren, said the Commission detected suspicious financial activities involving the account after monitoring a series of substantial transfers to several corporate entities within a one-week period.
According to Uwujaren, the anti-graft agency acted within its statutory mandate to preserve the account and prevent the possible diversion of public funds while investigations continue.
“We observed suspicious transactions on the account over the past week and decided to place a restriction on it in line with our mandate to protect public resources,” he said.
The EFCC clarified that the action affected only one government account and should not be interpreted as a blanket freeze on all Osun State accounts.
“The restriction applies only to one account. It does not mean the Osun State Government has been shut out of its finances. The state still has access to other accounts for salary payments and other legitimate government obligations,” Uwujaren explained.
The Commission disclosed that it has been investigating the Osun State Government since March 2026 over the alleged mismanagement of about ₦11 billion in Ecology Funds, Intervention Funds, and Federation Account Allocation Committee (FAAC) allocations.
According to the EFCC, several government officials, including the state’s Accountant General, have already been questioned as part of the ongoing investigation.
The agency stated that while the investigation had been underway for several months, it only imposed a Post-No-Debit restriction after detecting what it described as unusual movements of funds beginning on August 2, 2026.
The Commission alleged that large sums were transferred from the account to multiple corporate entities within a short period, prompting immediate intervention to halt further transactions pending the outcome of its investigation.
Uwujaren further explained that the Commission derives its authority from Section 34 of the EFCC Act and Section 7(6) of the Money Laundering (Prohibition) Act, 2022, which permit the temporary restriction of an account for up to 72 hours without first obtaining a court order. He added that any extension beyond that period would require judicial approval.
Responding to concerns over the timing of the action ahead of the Osun State governorship election, the EFCC insisted that its decision was based solely on developments uncovered during its investigation and was not politically motivated.
The anti-corruption agency maintained that it has a legal responsibility to protect public funds and prevent financial crimes, stressing that it will continue to monitor the financial activities of state governments where necessary.
Source: EFCC statement and Arise News interview.
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