The Economic and Financial Crimes Commission (EFCC) froze three bank accounts belonging to the Osun State Government, not just one as previously reported, according to fresh documents obtained by Sahara Reporters. The revelation expands the scope of an action that has triggered widespread condemnation and prompted President Bola Tinubu to order the anti-graft agency to vacate the freeze order immediately.
Three Accounts Frozen, Including Two at Zenith Bank
The newly revealed documents show that the EFCC obtained a court order from the Federal High Court in Abuja on 5 August to freeze three accounts of the Osun State Government. The accounts are:
- Osun State Government Federal Allocation Account, domiciled with First Bank Plc, Account No. 2017170947.
- Osun State Joint Allocation Account, domiciled with Zenith Bank Plc, Account No. 1013374191.
- Osun State Joint Allocation Account, domiciled with Zenith Bank Plc, Account No. 1014374909.
Previously, only the First Bank account was known to be affected. The EFCC had written to First Bank on 5 July (Wednesday) imposing a Post-No-Debit (PND) restriction on the account, without citing any court order. The commission's public communications gave the impression that only one account was targeted.
Ex Parte Application and Investigation Details
The court order was obtained through an ex parte application filed under suit number FHC/ABJ/CS/1750/2026. Being ex parte, the Osun State Government was not allowed to participate in the hearing. EFCC's lawyer, M. A. Babatunde, moved the motion, informing the court that the accounts were "currently being investigated in a case of Diversion of public funds and Money Laundering pending conclusion of investigation and prosecution." The application was supported by an affidavit sworn by EFCC investigator Ikenna Chukwueze and an exhibit marked "EFCC 1."
Justice Mohammed Umar issued the order authorising EFCC chairman Ola Olukoyede "or any officer authorised by him" to direct the managing directors of the affected banks to freeze the accounts until the conclusion of investigations.
Political Timing and Widespread Condemnation
The freeze order came just over a week before the 15 August governorship election in Osun State, where incumbent Governor Ademola Adeleke of the Accord Party is running against Bola Oyebamiji of the All Progressives Congress (APC), President Tinubu's party. The action has been widely criticised as politically motivated, feeding into perceptions that federal agencies, including the Nigerian police, have been biased in their enforcement actions against the Accord Party and Governor Adeleke's re-election bid.
President Tinubu expressed deep embarrassment over the development on Thursday and personally signed a statement directing the EFCC to immediately take steps to vacate the court order. "I must state that I feel deeply embarrassed not by the EFCC's exercise of its mandate backed by a court order, but by the timing of the agency's action," Mr Tinubu wrote. "This is so because every action taken by an institution of State, especially at the Federal level, is always credited to me, as the President, even when I may not have had any prior knowledge of the action."
President's Directive and Aftermath
Mr Tinubu further stated: "Osun State is only a few days away from its gubernatorial election. Therefore, nothing ought to be done to give an impression that the EFCC or indeed any other agency of the federal government is being used to interfere with the election. Based on the foregoing premise, I am duty-bound to issue a directive on this issue in consonance with the overriding public interest in preserving public confidence and the integrity, credibility, and fairness of our democratic process."
He directed the EFCC to "immediately proceed to the court to vacate the order and discontinue whatever action it has instituted against the Osun State Government in this regard." Presidential spokesman Bayo Onanuga subsequently announced that Mr Tinubu spoke with Governor Adeleke by phone, informing him of the directive.
It is not yet clear whether the EFCC has applied to the court to lift the freeze orders. The EFCC's Director of Public Affairs, Wilson Uwujaren, had earlier defended the freeze on Arise Television, stating the commission would follow up with a court order within 72 hours of the PND restriction, citing the EFCC's establishment law.
The EFCC had initially said the freeze followed suspicious movement of public funds from the account amid an ongoing investigation into alleged financial misconduct involving about N11 billion in Ecology Funds, Intervention Funds, and Federation Account Allocation Committee (FAAC) allocations.
