THE Economic and Financial Crimes Commission (EFCC) has defended its decision to restrict one of the bank accounts operated by the Osun State Government, insisting the action was taken to safeguard the state’s resources after it detected suspicious financial activities.
According to EFCC’s Director of Public Affairs, Wilson Uwujaren, the restriction was not a blanket freeze on Osun State’s finances, but a temporary measure targeting a single account where unusual transfers were observed. Uwujaren, who made the clarification during a television programme on Thursday, August 6, stressing that the Commission acted within its legal mandate to prevent possible diversion of public funds, saying it observed suspicious transactions involving the said account within the previous week; hence the decision to place a restriction order. He stressed that the restriction affected only one statutory account and did not prevent the state government from accessing other accounts or carrying out its normal operations, noting: “That restriction order does not mean that all the accounts of Osun State have been frozen. It is just a targeted restriction on one account of Osun State government.” Uwujaren said the Commission had a responsibility to act, despite the timing of the action, less than two weeks before the state’s governorship election. He argued that failing to intervene could have exposed the anti-graft agency to criticism if public funds were later discovered to have been moved improperly, noting: “If we don’t take that step and funds are looted from the account of Osun State government, the Nigerian public will ask, ‘where was the EFCC when those funds were being moved?”
He reiterated that the restriction would not affect governance in the state, as government activities, such as salary payments and other expenditures could continue through other available accounts, adding that the restriction was temporary and would either be lifted or extended through a court order, if necessary. The EFCC spokesman said the Commission relied on provisions of the EFCC Act and the Money Laundering Prohibition Act, 2002, which empower it to place temporary restrictions on accounts suspected of being involved in suspicious activities, saying the law provides a 72-hour window within which the EFCC must obtain a court order to continue the restriction or release the account. He disclosed that the suspicious transactions began around August 2 and required immediate intervention, due to past experiences during election cycles, where newly elected administrations often accuse predecessors of leaving behind depleted finances, citing the Edo State election, where the Commission restricted accounts during that period and preserved about N12billion for the incoming administration. He insisted that the action against Osun was not politically-motivated or targeted at any particular government, saying: “We are simply doing our work under the law.” Uwujaren dismissed suggestions that the EFCC had a pattern of targeting opposition-controlled states, saying the pattern observed by the Commission was related to election periods and suspicious movement of funds. He clarified that the Commission’s concern was not about political affiliation, but about protecting public resources whenever suspicious transactions were detected. He also disclosed that Osun State was among about 18 states currently under EFCC investigation, but declined to name the other states to avoid compromising ongoing inquiries, noting that the investigation started in March and several officials from the state had already been interviewed. He further denied reports that any bank official had been arrested over the matter, although he acknowledged that financial institution employees could be interviewed during investigations.
Uwujaren dismissed accusations that the Commission was attempting to blackmail the Osun State Government ahead of the election, saying its responsibility was solely to enforce the law.
