By Seun Ibiyemi
A political storm has erupted over the decision of the Economic and Financial Crimes Commission (EFCC) to freeze the bank accounts of the Osun State Government, with opposition parties accusing the Federal Government of weaponising state institutions ahead of the August 15 governorship election, while the ruling All Progressives Congress (APC) defended the anti-graft agency’s action.
The controversy followed the EFCC’s disclosure that it froze the state’s accounts as part of an ongoing investigation into the alleged diversion of N11 billion in Ecology Funds, Intervention Funds and Federation Account Allocation Committee (FAAC) allocations, claiming it detected suspicious transfers of public funds into corporate accounts.
However, the move drew swift condemnation from opposition parties, including the African Democratic Congress (ADC), Labour Party (LP), Social Democratic Party (SDP), Young Progressives Party (YPP) and the Nigeria Democratic Congress (NDC), which alleged that the action was politically motivated.
In a statement signed by its National Publicity Secretary, Mallam Bolaji Abdullahi, the ADC described the freezing of the state’s accounts as “political terrorism,” alleging that it was part of a deliberate strategy by the Federal Government to weaken the administration of Governor Ademola Adeleke before the governorship election.
The party argued that withholding government funds would negatively affect workers’ salaries, healthcare services, education, rural infrastructure and other essential public services, insisting that political competition should not come at the expense of citizens’ welfare.
According to the ADC, the account freeze forms part of a broader pattern of actions aimed at destabilising Osun State, including the alleged occupation of local government councils by APC loyalists, arrests of opposition members and the alleged use of political thugs protected by security agencies.
Similarly, the Young Progressives Party (YPP) described the development as an abuse of state institutions capable of undermining democratic governance.
In a statement by its National Publicity Secretary, Wale Egbeola-Martins, the party said the timing of the action had heightened concerns that federal institutions were being deployed to intimidate perceived political opponents ahead of the election.
The Nigeria Democratic Congress (NDC) also condemned the action, with its National Publicity Secretary, Osa Director, describing it as “executive rascality” and urging the judiciary to expedite hearing of the matter.
Director further called on EFCC Chairman Ola Olukoyede to reverse the decision or resign if the commission failed to do so.
The Social Democratic Party warned that the unfolding events in Osun posed a threat to democracy and national stability.
Its National Publicity Secretary, Rufus Aiyenigba, urged all parties to exercise restraint, stressing that elections should not become a basis for intimidation or plunging the state into political tension.
The Labour Party (LP) adopted a more cautious position, acknowledging the statutory powers of the EFCC to investigate financial crimes while insisting that any action taken by the commission must strictly comply with constitutional provisions and due process.
Its National Publicity Secretary, Ken Asogwa, said the courts remain the appropriate forum to determine the legality of the account freeze, urging the Osun State Government to pursue judicial redress.
In contrast, the APC defended the anti-graft agency, insisting that the commission should be allowed to carry out its constitutional responsibilities without political interference.
The party’s Director of Publicity, Bala Ibrahim, said the EFCC must have acted based on evidence not available to the public, adding that it was established to investigate financial crimes and should not be condemned without full knowledge of the facts.
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He also noted that the accounts belong to the Osun State Government and not Governor Adeleke personally, pointing out that the governor continues to enjoy constitutional immunity.
Meanwhile, the Osun State Government has commenced legal action against the EFCC over the freezing of its accounts.
The state’s Attorney-General and Commissioner for Justice, Oluwole Jimi-Bada, said Governor Adeleke had directed him to challenge the anti-graft agency’s action at the Federal High Court.
According to him, the EFCC issued a “Post No Debit” directive to First Bank of Nigeria, where the state’s accounts are domiciled, arguing that while the commission may investigate financial transactions, it lacks the legal authority to freeze government accounts without first obtaining a court order.
The state’s Commissioner for Finance, Sola Ogungbile, also criticised the development, alleging that police operatives stormed the Osogbo branch of First Bank and arrested members of staff, while maintaining that state funds were not being used to finance Governor Adeleke’s re-election campaign.
The dispute has intensified political tensions ahead of the August 15 governorship election, with both the Osun State Government and opposition parties insisting that the account freeze is politically motivated, while the EFCC maintains that the action was necessary to protect public funds under investigation.
