EFCC Begins Process of Unfreezing Osun Government Account Following Tinubu’s Directive.

EFCC Begins Process of Unfreezing Osun Government Account Following Tinubu’s Directive.

The Economic and Financial Crimes Commission (EFCC) has commenced the process of lifting the restriction placed on the Osun State Government’s bank account, in compliance with President Bola Ahmed Tinubu’s directive ordering the unfreezing of the account.

An official of the anti-graft agency confirmed that a formal letter has been sent to the affected bank instructing it to remove the restriction imposed on the state’s account. The move comes barely a day after the EFCC froze the account as part of an ongoing investigation into the alleged handling of about ₦11 billion in ecological funds, social intervention funds, and Federal Account Allocation Committee (FAAC) allocations.

The commission had explained that the restriction followed the discovery of what it described as suspicious movements of public funds into multiple accounts. According to the EFCC, the action formed part of an ongoing investigation and was not connected to the forthcoming Osun State governorship election.

However, President Tinubu directed the commission to immediately return to court to vacate the order freezing the account. The President expressed concern over the timing of the action, noting that freezing the state’s account just days before the August 15 governorship election could create the impression that federal institutions were being used to influence the electoral process.

As part of the intervention, President Tinubu also held a telephone conversation with Osun State Governor Ademola Adeleke, informing him of the directive issued to the EFCC to lift the restriction on the account.

The latest confirmation from the EFCC indicates that the process of restoring full access to the state’s account is now underway, with the affected financial institution already notified to comply with the directive.

The development comes amid an ongoing legal battle between the Osun State Government and the EFCC. Governor Adeleke had filed a lawsuit against the commission, seeking ₦2 billion in damages over the account freeze, arguing that the action was unlawful and had disrupted government operations by restricting access to statutory funds.

The unfolding developments are expected to ease tensions surrounding the dispute while the investigation into the alleged financial transactions continues.