EFCC Clarifies Osun Account Restriction, Says Only One State Bank Account Was Temporarily Frozen

The Economic and Financial Crimes Commission (EFCC) has clarified that it did not freeze all bank accounts belonging to the Osun State Government, stating that only one account was placed under temporary restriction over suspicious financial activities.

The clarification comes amid widespread speculation following reports that the anti-graft agency had frozen the state’s accounts just days before the August 15 governorship election.

Speaking during an interview on Arise Television’s Morning Show on Thursday, EFCC Director of Public Affairs, Wilson Uwujaren, explained that the action was targeted and carried out within the commission’s legal powers after unusual transactions were detected.

“EFCC placed a temporary restriction on one Osun State government account after observing suspicious activities in the past week,” Uwujaren said.

He stressed that the measure should not be interpreted as a blanket freeze on the state’s finances.

“This does not mean all Osun State accounts are frozen; only the targeted one. EFCC has the power to issue such temporary restrictions,” he added.

The commission had earlier stated that the restriction was intended to prevent the alleged diversion of public funds while investigations continue.

The development has attracted significant political attention as Osun prepares for its governorship election, with debates intensifying over the timing of the EFCC’s intervention. However, the commission insists the action is strictly tied to its ongoing investigation and not a wholesale shutdown of the state’s financial operations.