Nigeria's Economic and Financial Crimes Commission says it froze the Osun State government's bank accounts as part of an ongoing investigation into the alleged mismanagement of about ₦11 billion in public funds.
In a statement Wednesday , the anti-graft agency said it has been investigating the state government since March over the alleged handling of Ecology Funds, Intervention Funds and allocations from the Federation Account Allocation Committee.
The EFCC said several state officials, including the Accountant General, have been questioned as part of the investigation.
According to the commission, the decision to place a Post No Debit order on the accounts followed what it described as the movement of large sums of money from the state's accounts into multiple corporate accounts beginning Aug. 2.
The agency said the transfers raised concerns and prompted it to freeze the accounts to prevent further movement of funds while investigations continue.
The EFCC denied suggestions that the action was politically motivated ahead of the forthcoming Osun governorship election, maintaining that the timing was driven by developments in its investigation rather than the electoral calendar.
The commission said its statutory responsibility is to protect public funds and insisted it would not suspend its enforcement activities because of an impending election.
It also disclosed that financial activities in other states are under review as part of broader efforts to promote accountability in the management of public resources.
The Osun State government had not publicly responded to the EFCC's latest statement at the time of publication.
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