UPDATED: Adeleke Heads to Court as EFCC Freezes Osun’s Allocation Days to Guber Polls

The Economic and Financial Crimes Commission (EFCC) has frozen the Osun State Government’s statutory allocation account domiciled with First Bank as part of an ongoing investigation into the state’s financial activities.

Governor Ademola Adeleke disclosed the development during a press conference in Osogbo, describing the action as an attempt to cripple the operations of his administration.

According to the governor, the EFCC had earlier invited several government officials for questioning and requested explanations over various government transactions. However, he argued that placing a restriction on the state’s statutory allocation account exceeded the commission’s legal authority.

Adeleke maintained that the decision was politically motivated and intended to frustrate his administration and weaken his chances ahead of his re-election bid. He vowed that the state government would challenge the action in court.

The affected account, used primarily for the payment of workers’ salaries and other government obligations, has reportedly been placed under a Post-No-Debit (PND) restriction. The measure prevents withdrawals and other debit transactions while allowing deposits to continue pending the conclusion of the EFCC’s investigation.

Osun State Commissioner for Finance, Olusola Ogungbile, also alleged that several First Bank employees were arrested by the EFCC and later handed over to the Nigeria Police for further investigation.

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Meanwhile, the State Attorney General and Commissioner for Justice, Oluwole Jimoh Bada, confirmed that the government has instructed its legal team to file a suit at the Federal High Court in Osogbo to challenge the legality of the EFCC’s action.

The EFCC has yet to publicly respond to the allegations made by the Osun State Government regarding the freezing of the account and claims of political interference.