Court Order Froze Three Osun Accounts, Fresh Document Reveals

A fresh court document has revealed that the Economic and Financial Crimes Commission (EFCC) obtained an order freezing three bank accounts belonging to the Osun State Government over allegations of diversion of public funds and money laundering.

The order, granted by the Federal High Court in Abuja on Tuesday, August 5, 2026, authorised the anti-graft agency to restrict transactions on the accounts pending the conclusion of its investigation and any subsequent prosecution.

The development provides further details on the scope of the EFCC’s action, which has generated controversy ahead of the August 15 Osun governorship election.

According to the court document obtained by SaharaReporters, Justice M.G. Umar granted the ex parte application in Suit No. FHC/ABJ/CS/1750/2026.

The case was titled ‘In the Matter of an Application by the Executive Chairman of the EFCC.’

The affected accounts were listed as the Osun State Government Federal Allocation Account domiciled with First Bank and two Osun State Joint Allocation Accounts domiciled with Zenith Bank.

The EFCC told the court that the accounts were “currently being investigated in a case of diversion of public funds and money laundering pending conclusion of investigation and prosecution.”

Justice Umar granted the application after EFCC counsel, M.A. Babatunde, moved the motion ex parte.

The commission’s application sought authority for its chairman, or any officer authorised by him, to direct the affected banks to freeze the accounts listed in the schedule attached to the motion.

The application was supported by an affidavit sworn to by EFCC investigator Ikenna Chukwueze and an exhibit marked “EFCC 1.”

The court ordered that the restrictions should remain in force pending the conclusion of the investigation and prosecution.

The newly obtained document indicates that the EFCC’s action extended beyond the single account initially at the centre of public discussion.

The revelation came a day after President Bola Tinubu directed the EFCC to return to court and seek the vacation of the freezing order.

Tinubu said he was concerned that the timing, coming shortly before the governorship election, could create the impression that the Federal Government was interfering in the electoral process.

The President, however, acknowledged that the commission had acted pursuant to a court order and within its statutory mandate.

His intervention has since triggered debate over the independence of the EFCC and the extent to which political considerations should influence ongoing anti-corruption investigations.

Before the presidential directive, the EFCC said it had been investigating the Osun State Government since March over the alleged handling of Ecology Funds, Intervention Funds and Federation Account Allocation Committee allocations amounting to about ₦11bn.

The commission said the investigation alone would not have resulted in the freezing of the accounts.

It claimed, however, that from August 2, investigators detected what it described as “precipitate and unwarranted” movements of funds into several corporate entities.

The EFCC said the restrictions were imposed to prevent the possible dissipation of public funds and denied that the action was politically motivated.

The Osun State Government subsequently filed a suit against the EFCC, its chairman and First Bank, challenging the legality of the restrictions.

Court filings reportedly showed that the state argued that its statutory allocation accounts were used to pay salaries, pensions, contractors and finance healthcare, education, security and other essential obligations.

The government alleged that freezing the accounts shortly before the election was intended to cripple its operations at a politically sensitive period.

It consequently asked the court to unfreeze the accounts and award ₦2bn in damages.