The Nigerian Bar Association has faulted the Economic and Financial Crimes Commission over the reported freezing of Osun State Government bank account, saying the anti-graft agency lacks the constitutional power to impose a blanket restriction on a state’s finances without due legal process.
The EFCC on Wednesday directed that no money be withdrawn from the Osun State Government’s statutory allocation account as part of an ongoing investigation.
A letter dated August 5, 2026, and signed by the Assistant Commander of the EFCC, Adenike Babalola, for the Director of Investigation, instructed the bank to place a post-no-debit restriction on the account pending the conclusion of the probe.
The letter, referenced 3000/EFCC/ABJ/HQ/PFS/TA/OSUN/VOL.17/666, was addressed to the Managing Director of First Bank, with attention to the Chief Compliance Officer.
It identified the affected account as “Osun State Government Statutory Allocation” with account number 2017170947.
The EFCC in a statement on Wednesday night said the action followed suspicious movement of funds amid an ongoing investigation into alleged fraudulent handling of about N11billion in Ecology Funds, Intervention Funds and Federal Account Allocation Committee allocations.
In a statement on Wednesday signed by its Head of Media and Publicity, Dele Oyewale, the anti-graft agency said it was “compelled to publicly address issues pertaining to its preventive moves in freezing the bank account of the Osun State government, without prejudice to the imminent governorship election in the state.”
