The Economic and Financial Crimes Commission (EFCC) has lifted restrictions on accounts belonging to the Osun State Government following President Bola Tinubu’s intervention in a dispute that erupted days before the state’s governorship election.
The development followed Tinubu’s August 6 directive for the anti-graft agency to return to court and vacate the order freezing the state government’s accounts.
The President said the timing of the action, coming shortly before the August 15 election, was capable of creating an impression that a federal agency was being used to interfere in the electoral process.
The EFCC had obtained an ex-parte order from the Federal High Court in Abuja on August 5 authorising restrictions on three Osun government accounts. The accounts comprised the state’s Federal Allocation Account with First Bank and two Joint Allocation Accounts with Zenith Bank. The court order said the accounts were under investigation over alleged diversion of public funds and money laundering.
The commission said its investigation had been ongoing since March 2026 and involved approximately ₦11 billion in Ecology Funds, Intervention Funds and Federation Account Allocation Committee (FAAC) allocations. It also alleged that substantial transfers to corporate entities were detected from August 2, prompting the request for the restriction to prevent further movement of funds.
The Osun government rejected the allegations and challenged the account restriction in court, arguing that the action threatened its ability to meet essential financial obligations. It sought, among other reliefs, the lifting of the restriction and ₦2 billion in damages.
Tinubu’s intervention changed the course of the dispute. In his statement, the President stressed that anti-corruption agencies should operate independently but said the proximity of the EFCC action to the election made his intervention necessary to protect confidence in the democratic process.
After winning the August 15 election, Governor Ademola Adeleke said he had directed the state Attorney-General to withdraw the lawsuit against the EFCC, citing Tinubu’s intervention and a direct conversation with the President.
The lifting of the restrictions resolves the immediate dispute over access to the accounts. It does not, however, amount to a finding that the allegations under investigation were false or that the underlying EFCC investigation has been concluded.
For Osun, the immediate priority is uninterrupted access to public funds. For Nigeria’s institutions, the episode raises a broader question over how anti-corruption investigations involving elected governments should be handled close to elections without compromising either enforcement or public confidence.
