The Economic and Financial Crimes Commission (EFCC) has reportedly frozen Osun State Government’s statutory allocation account just 10 days before the state’s governorship election, triggering fresh political tension.
The anti-graft agency directed First Bank Plc to place a Post-No-Debit (PND) restriction on the account, preventing withdrawals or transactions from the state’s allocation account.
The directive was contained in a letter dated August 5, 2026, addressed to the Managing Director of First Bank, Abuja, and marked for the attention of the bank’s Chief Compliance Officer.
The EFCC letter, referenced CR:3000/EFCC/ABJ/HQ/PFS/TA/OSUN/VOL.17/666, identified the affected account as “Osun State Government Statutory Allocation Acct” with account number 2017170947.
The commission said the move was part of its ongoing investigation, citing provisions of the EFCC Establishment Act and the Money Laundering (Prevention and Prohibition) Act, 2022.
The development came shortly after Governor Ademola Adeleke raised an alarm over alleged plans by the EFCC to freeze the state government’s accounts ahead of the August 15 governorship election.
Adeleke, through the Osun State Commissioner for Information and Public Enlightenment, Oluomo Kolapo Alimi, had accused the anti-graft agency of plotting to cripple government activities and halt the implementation of public programmes.
The governor described the alleged move as “lawlessness,” insisting that there was no legal justification for freezing the accounts of a state government.
He also claimed that accounts belonging to top government officials were allegedly being targeted, warning that such action could paralyse governance in the state.
According to Adeleke, the EFCC lacked the constitutional authority to freeze the accounts of a state government, especially close to an election.
The EFCC’s latest directive to First Bank appears to confirm that the statutory allocation account has been placed under restriction as part of an investigation, deepening the political battle ahead of the crucial poll.
The development is expected to fuel fresh accusations from opposition figures, with critics of the Bola Tinubu administration previously alleging that federal agencies could be used to influence electoral outcomes in favour of the ruling All Progressives Congress (APC).
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