The Economic and Financial Crimes Commission (EFCC) has dismissed widespread claims that it froze all bank accounts belonging to the Osun State Government, insisting that only one account is currently under restriction as part of an ongoing financial investigation.
The anti-graft agency said the temporary action was taken after investigators detected suspicious transactions linked to a specific Government account, stressing that the measure was aimed at preserving evidence while the probe continues.
Speaking during an interview on Thursday, EFCC Director of Public Affairs, Wilson Uwujaren, clarified that reports suggesting the Commission shut down all of the State’s accounts were inaccurate. He maintained that the restriction affects only the account directly connected to the investigation.
Uwujaren explained that the Commission acted after identifying unusual financial activities on the account over the past week, adding that the move falls within the EFCC’s statutory powers to prevent possible diversion or tampering with funds under investigation.
According to him, the temporary restriction should not be interpreted as a blanket freeze on the finances of the Osun State Government.
He emphasised that the EFCC has no interest in disrupting the State’s day-to-day financial operations, noting that the Commission’s intervention is limited to the account where suspicious transactions were detected.
“The temporary restriction applies only to the account being investigated. It does not mean that all Osun State Government accounts have been frozen,” Uwujaren said during the television interview.
The EFCC spokesman further assured that the restriction would be lifted once investigators establish that the transactions being examined are legitimate and free of any criminal conduct.
He explained that freezing an account temporarily is a standard investigative procedure used by the Commission to secure funds and prevent further movement of money while inquiries are ongoing.
Uwujaren also rejected allegations that the Commission’s action was politically motivated, especially given the proximity of the August 15 governorship election in Osun State.
According to him, the EFCC remains an independent law enforcement agency whose decisions are guided strictly by evidence and the law, rather than political considerations.
He maintained that the Commission’s constitutional responsibility is to investigate suspected economic and financial crimes wherever credible intelligence exists, regardless of the individuals or institutions involved.
The clarification comes amid growing public debate following reports that the EFCC had frozen the Osun State Government’s accounts over alleged financial irregularities.
Earlier, the Commission disclosed that investigators uncovered unusually large transfers from a Government account into what it described as suspicious corporate accounts.
The anti-graft agency said those transactions prompted a closer examination of the movement of public funds, leading to the temporary restriction placed on the account under scrutiny.
According to the EFCC, the investigation centers on the alleged fraudulent management of about ₦11 billion in public funds.
The Commission has consistently maintained that the investigation has no connection with the August 15 Osun governorship election, insisting that the probe was initiated solely on the basis of financial intelligence gathered by its investigators.
Uwujaren urged members of the public not to politicise ongoing investigations, stressing that the EFCC carries out its constitutional mandate without bias or political interference.
He also appealed to political stakeholders to allow investigators to complete their work professionally, warning against spreading misinformation capable of misleading the public.
Legal experts note that anti-corruption agencies are empowered under Nigerian law to place temporary restrictions on bank accounts suspected to contain proceeds of crime or funds linked to ongoing investigations while inquiries continue.
The EFCC insists that the restriction should not be interpreted as a declaration of guilt against the Osun State Government or any official.
Instead, the Commission described the measure as a precautionary step designed to safeguard evidence and preserve the integrity of its investigation.
By clarifying that only one account has been restricted, the anti-graft agency hopes to dispel concerns that the State Government’s financial operations have been completely shut down.
The Commission said investigations are continuing and promised that once it establishes that the transactions under review are lawful, the temporary restriction on the account will be lifted.
The EFCC reaffirmed its commitment to transparency, accountability and the rule of law, maintaining that every action taken in the Osun investigation is based on credible evidence and the powers granted to it under Nigeria’s anti-corruption laws.