EFCC Reveals Why Osun Account Was Frozen

The Economic and Financial Crimes Commission (EFCC) has explained its decision to freeze the Osun State Government’s account, saying the action was taken to prevent possible diversion of public funds amid an ongoing investigation into alleged financial irregularities involving about N11 billion.

The anti-graft agency said it detected what it described as suspicious movement of funds from the state government account and moved to restrict access to the account as a precautionary measure while investigations continue.

According to the EFCC, the restriction was not politically motivated or connected to the forthcoming Osun governorship election, but was part of its constitutional responsibility to protect public resources and prevent the movement of funds suspected to be linked to financial misconduct.

The commission said its action was aimed at “saving public funds from being looted”, stressing that it had been monitoring financial activities involving several states where it suspected possible breaches of financial regulations.

The development comes barely days before the Osun governorship election, triggering political controversy in the state as the government and opposition parties traded accusations over the timing of the EFCC’s action.

The Osun State Government had earlier condemned the reported freezing of its account, describing the move as capable of disrupting government operations and questioning why such an action was taken close to the election period.

The state government has indicated plans to challenge the EFCC’s action in court, arguing that restricting access to government funds could affect the payment of obligations and delivery of essential services to residents.

The controversy is also linked to previous allegations raised by opposition figures in Osun over alleged financial issues in the state, including claims surrounding payroll irregularities and suspected misuse of public funds.

The All Progressives Congress (APC) in Osun had previously called on anti-graft agencies to investigate alleged irregularities involving billions of naira in the state’s payroll system, allegations the Osun Government has repeatedly denied.

However, the EFCC maintained that its investigation was based on financial intelligence and not political considerations, insisting that its mandate is to ensure accountability in the management of public funds.

The commission’s action has further heightened political tension in Osun as stakeholders await the outcome of the investigation and the legal battle expected to determine whether the account restriction will remain in place or be lifted.

ADVERTISE WITH US

Do you want to reach your targeted audience and expand your brand’s visibility?

Advertise with Polity Reporters to place your “message” before the right audience.

For advertising enquiries, reach us through:

Email: bandcommunications001@gmail.com

Facebook: Polity Reporters

WhatsApp: 07043810558