The Economic and Financial Crimes Commission (EFCC) has defended its decision to freeze the Osun State Government's bank account just days before the state's governorship election, insisting the move was aimed at preventing the alleged diversion of public funds rather than influencing the electoral process.

In a statement shared on its official social media platforms on Wednesday, the anti-graft agency 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 Federal Account Allocation Committee (FAAC) allocations.

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

The EFCC explained that although the investigation had been ongoing for months, it only decided to place a Post No Debit restriction on the state's account after detecting what it described as suspicious transfers of large sums of money into multiple corporate accounts beginning on August 2, 2026.

"The ongoing investigations would not have warranted the placement of a Post No Debit order on the account but for the sudden and unwarranted movement of funds into different suspicious accounts," the commission said.

It added that the transfers raised concerns over a possible diversion of public funds, prompting the agency to act swiftly by freezing the account to prevent further transactions.

The commission maintained that safeguarding public funds is part of its statutory responsibility and stressed that it could not ignore what it considered an attempt to loot state resources.

While acknowledging that the action came just days before the Osun governorship election, the EFCC insisted that the timing was dictated solely by developments uncovered during its investigation.

"The Commission cannot watch idly while a state government's account is being pillaged. Although we are fully aware of the impending governorship election in Osun State, we have a duty to protect public funds and perform our legally assigned responsibilities," the statement read.

The anti-corruption agency also revealed that Osun is not the only state under investigation, noting that several other state governments are currently on its radar as part of efforts to ensure transparency and accountability in the management of public finances.

Reaffirming its neutrality, the EFCC said it remains non-partisan and committed to protecting the interests of Nigerians.

"The Osun State Government account was frozen to safeguard public funds from being looted. The public should disregard false narratives and deliberate attempts to discredit the Commission's work. The interests of Nigerians will always remain our priority," the statement concluded.