The Economic and Financial Crimes Commission has disclosed that no fewer than 18 state governments are currently under investigation over alleged mismanagement of public funds, as the anti-graft agency defended its decision to freeze an account belonging to the Osun State Government.
The commission, however, declined to disclose the identities of the affected states, insisting that revealing their names at this stage could jeopardise ongoing investigations.
The EFCC’s Director of Public Affairs disclosed this during a television interview on Thursday while responding to questions on the controversy surrounding the restriction placed on one of Osun State Government’s bank accounts.
According to him, the action against Osun was not an isolated case, noting that similar measures had been taken against other state governments where suspicious financial transactions were detected.
He said, “About 18 states are currently under investigation. We cannot mention their names because doing so could compromise the integrity of ongoing investigations.”
The spokesperson stressed that the commission’s decision to withhold the names was not aimed at shielding any government from public scrutiny but to ensure that investigations were not undermined.
He also cited an earlier intervention involving the Edo State Government before the inauguration of Governor Monday Okpebholo, claiming that the commission’s action preserved about $12 billion for the incoming administration.
According to him, the EFCC acted within the powers granted under Section 34 of the EFCC Act and Section 7(6) of the Money Laundering (Prevention and Prohibition) Act, 2022, which empower the commission to temporarily restrict accounts suspected to be linked to suspicious financial activities.
He explained that once an account is restricted, the commission has 72 hours to obtain a court order either sustaining or lifting the restriction.
On the Osun case, the EFCC said its investigation began in March and had already involved the interrogation of some state officials.
The commission added that only one statutory account belonging to the state was frozen, insisting that the Osun Government still had access to its other accounts for official transactions.
Responding to questions on why a similar action was not taken during the Ekiti State governorship election, the EFCC maintained that each investigation was intelligence-driven and based on facts available to the commission.
The agency also noted that the Osun State Government remained at liberty to challenge the account restriction in court, assuring that it would defend its action through the legal process.
The disclosure comes amid growing controversy over the freezing of the Osun Government account, a move that has attracted criticism from the state government and the Nigerian Bar Association, both of which questioned the legality and timing of the commission’s action.
The EFCC, however, insisted that its operations were guided strictly by law and not influenced by political considerations.
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