EFCC unfreezes Osun govt accounts after Tinubu’s directive

The Economic and Financial Crimes Commission (EFCC) has lifted the freeze order it placed on the Osun State Government’s accounts during the lead-up to last Saturday’s governorship election in the state.

The accounts, domiciled with First Bank of Nigeria and Zenith Bank, are now operational, bringing an end to a standoff that triggered a legal challenge by the state government and drew the intervention of President Bola Tinubu.

Punch reported that the development was confirmed on Friday by Temitope Ajayi, Senior Special Assistant to the President on Media and Publicity, who said the EFCC could not disregard the president’s directive to lift the restriction.

“The lien has been lifted. EFCC cannot ignore the presidential order. I can confirm to you that it was done immediately,” Mr Ajayi said.

Confirming the account unfreezing to PREMIUM TIMES in a Whatsapp message Saturday morníng, the Senior Special Assistant on Media Monitoring to Osun State Governor, Abdul-Jeleel Samakin, said, “Yes, the accounts are active now. They’ve been unfrozen it after some interventions.”

How the accounts were frozen

The EFCC had on August 5 restricted the accounts of the Osun State Government, directing the banks not to honour withdrawals or other debit transactions from the affected accounts.

The affected accounts included the Osun State Government Federal Allocation Account 2017170947, domiciled with First Bank Plc. The two others are two Osun State Joint Allocation Accounts 1013374191 and 1014374909 domiciled with Zenith Bank Plc.

In a later statement, the commission said the action was part of an ongoing investigation into the alleged fraudulent handling of about N11 billion in funds belonging to the state.

The investigation, according to the EFCC, covered Ecology Funds, Intervention Funds and allocations received from the Federation Account Allocation Committee (FAAC). The commission said the restriction was necessary to prevent the alleged diversion of public funds while its investigation continued.

The dispute subsequently became part of a broader political debate surrounding the election, particularly as Governor Adeleke was seeking re-election against the All Progressives Congress (APC) candidate, Bola Oyebamiji.

The EFCC, however, maintained its position that the restriction was connected to an investigation into alleged financial misconduct and was intended to protect public funds.

The action immediately generated political controversy, with the Adeleke administration and its supporters questioning the timing of the restriction, coming just 10 days before the 15 August governorship election.

The development also attracted public criticism, with some describing the EFCC action as politically motivated and an attempt to discredit Governor Adeleke ahead of the election.

Reversal and legal action

However, the standoff took a new turn after President Tinubu intervened and directed the EFCC to unfreeze the accounts. The president described the commission’s action as “embarrassing” and ordered that the restriction be lifted.

The Adeleke administration challenged the EFCC’s action in court. The state government sought judicial intervention over the commission’s action.

But after winning the 15 August governorship election, Mr Adeleke said he instructed the state’sthe Osun State Attorney-General and Commissioner for Justice, Oluwole Jimi-Bada, to withdraw the suit following Mr Tinubu’s intervention.

Mr Ajayi, the presidential aide, said the EFCC acted immediately after receiving the directive from the president to unfreeze the accounts.

“If it was not lifted, the Osun State Government would have made it a campaign issue. The fact that they are not talking about it shows it has been done,” he said.

As of the time of reporting, the EFCC had not issued a public statement on the lifting of the restriction on the state’s accounts.

Efforts by PREMIUM TIMES to obtain the commission’s reaction were unsuccessful, as calls and text messages sent to its spokesperson, Dele Oyewale, were neither answered nor returned.