EFCC unfreezes Osun State account after President Tinubu ordered the anti-graft agency to lift the restriction ahead of the governorship election.
President Bola Tinubu has ordered the Economic and Financial Crimes Commission (EFCC) to lift the restriction placed on the Osun State Government’s account, bringing a swift end to a move that sparked widespread political and public debate.
The decision came just one day after the EFCC froze the state’s account as part of an ongoing investigation into the alleged mismanagement of ₦11 billion in Ecology Funds, Intervention Funds, and Federal Account Allocation Committee (FAAC) allocations.
According to the President, he fully supports the EFCC’s responsibility to investigate corruption and financial crimes across the country. However, he expressed concern that the timing of the restriction, coming only 10 days before the Osun State governorship election, could create unnecessary controversy and raise questions about fairness.
Because of those concerns, President Tinubu instructed the anti-corruption agency to immediately remove the restriction from the state’s account.
EFCC Unfreezes Osun State Account After Sending Letter to First Bank
A senior EFCC official confirmed that the commission has already taken steps to implement the President’s directive.
Speaking anonymously because he was not authorized to address the media, the official disclosed that the commission sent an official letter to First Bank, directing the bank to remove the Post-No-Debit (PND) restriction placed on the Osun State Government’s account.
The official said:
A letter has been sent to the banker to remove the PND restriction on the state government’s account following Mr President’s directive.”
The official also dismissed claims that the President’s intervention weakens the independence of the anti-graft agency.
According to the source, the EFCC remains an independent institution that continues to carry out its constitutional responsibilities despite complying with the presidential directive.
Why the EFCC Froze the Osun State Account
The EFCC froze the Osun State Government’s account while investigators examined allegations involving the management of approximately ₦11 billion in public funds.
The investigation focuses on the use of Ecology Funds, Intervention Funds, and allocations received through the Federal Account Allocation Committee (FAAC).
The Post-No-Debit (PND) restriction stopped all withdrawals from the account while investigators continued their inquiries.
What the EFCC Unfreezes Osun State Account Decision Means
The decision to EFCC unfreezes Osun State account allows the Osun State Government to regain access to its funds while the anti-corruption investigation continues.
Although the restriction has been lifted, the EFCC has indicated that its investigation into the alleged financial irregularities remains active, meaning the agency will continue examining the transactions connected to the case.
The development has attracted national attention because it comes just days before the Osun governorship election, with many observers closely watching both the political and legal implications of the President’s directive.
