The Economic and Financial Crimes Commission (EFCC) has ordered a freeze on the Osun State Government's statutory allocation account as part of an ongoing investigation into the state's financial activities.

In a letter dated August 5, 2026, the anti-graft agency directed First Bank to place a Post-No-Debit (PND) restriction on the account, preventing any withdrawals until the investigation is concluded.

The directive, signed by Assistant Commander of the EFCC, Adenike Babalola, on behalf of the Director of Investigation, was addressed to the Managing Director of First Bank, with attention to the bank's Chief Compliance Officer.

The letter, referenced 3000/EFCC/ABJ/HQ/PFS/TA/OSUN/VOL.17/666, identified the affected account as "Osun State Government Statutory Allocation" with account number 2017170947.

According to the EFCC, the action is a follow-up to an earlier correspondence dated April 15, 2026, and is backed by the provisions of **Section 38(1) and (2) of the EFCC (Establishment) Act, 2004, as well as Section 24 of the Money Laundering (Prevention and Prohibition) Act, 2022.

The letter reads in part:

"Further to our earlier letter referenced CR:3000/EFCC/ABJ/HQ/PFS/TA/OSUN/VOL.17/165 dated April 15, 2026, you are hereby requested to place a Post-No-Debit restriction on the account. This request is made pursuant to Section 38(1) and (2) of the EFCC (Establishment) Act, 2004, and Section 24 of the Money Laundering (Prevention and Prohibition) Act, 2022. Thank you for your usual cooperation."*

Sources within the commission disclosed that the investigation into the Osun State Government has been ongoing for more than a year, stressing that the latest action is unrelated to the forthcoming governorship election.

A source familiar with the probe revealed that several senior officials of the state government had previously appeared before the commission and provided written statements.

"We have been investigating the government for over a year. Some top officials have honoured our invitations and made statements. This has nothing to do with the upcoming election," the source said.

Attempts to obtain an official reaction from EFCC spokesperson, Dele Oyewale, were unsuccessful, as calls to his phone went unanswered and a text message sent to him had not been replied to as of the time of filing this report.

The development comes only hours after Osun State Governor Ademola Adeleke alleged that the EFCC was planning to freeze the state's accounts and those of some top government officials ahead of the governorship election.

In a statement issued on Wednesday by the Commissioner for Information and Public Enlightenment, Kolapo Alimi, Adeleke described the alleged move as an attempt to paralyse the operations of his administration before the polls.

The governor insisted that the EFCC lacks the constitutional and legal authority to freeze the accounts of a state government.

"There is no legal basis or justification for any attempt to freeze the accounts of the Osun State Government. The anti-graft agency has no legal powers to freeze a state government's account," Adeleke maintained.

The EFCC's decision is expected to further heighten political tensions in Osun State as campaigns and preparations intensify ahead of the state's governorship election.