Osun Account Freeze: EFCC Reveals Letter Sent To Bank For Immediate Unfreezing

President Bola Tinubu on Thursday directed the Economic and Financial Crimes Commission (EFCC) to lift the restriction placed on the Osun State Government’s account.

Tinubu issued the directive in a statement he personally signed, explaining that while he supported the EFCC’s statutory mandate, he had concerns about the timing of the restriction.

The EFCC had restricted the state government’s account on Wednesday as part of an investigation into the alleged mismanagement of about ₦11 billion in Ecology Funds, Intervention Funds and allocations from the Federal Account Allocation Committee (FAAC).

The restriction was imposed just 10 days before the Osun State governorship election.

Tinubu stressed that his concern was not with the EFCC carrying out its legal responsibilities but with the timing of the action. He subsequently directed the commission to take steps to lift the restriction.

EFCC Writes First Bank

A senior EFCC official, who spoke to Daily Trust on condition of anonymity because he was not authorised to comment publicly, confirmed that the commission had written to First Bank conveying the President’s directive.

“A letter has been sent to the banker to remove the PND restriction on the state government’s account following Mr President’s directive,” the official said.

The official dismissed suggestions that the development compromised the independence of the anti-graft agency.

“Nobody should view this from the perspective of the fact that EFCC is not independent,” he added.

The Post-No-Debit (PND) restriction had prevented withdrawals from the affected account while the EFCC continued its investigation.