President Bola Ahmed Tinubu has instructed the Economic and Financial Crimes Commission to immediately vacate a Post-No-Debit restriction on the Osun State Government's bank accounts, bringing a dramatic turn to a high-stakes confrontation between the federal anti-graft agency and Governor Ademola Adeleke.
The presidential directive was issued on August 6 following widespread public backlash and escalating political friction caused by the freezing of the state's primary operational, salary, and statutory allocation accounts at First Bank, just ten days before the August 15 Osun governorship election.
In an official statement released by the Presidency, President Tinubu expressed deep concern over the timing of the enforcement action, warning that restricting state finances so close to an election risks giving the impression of federal interference in the democratic process.
"I must state that I feel deeply embarrassed not by the EFCC's exercise of its mandate backed by a court order, but by the timing of the agency's action," President Tinubu stated. He reiterated that while his administration maintains a strict policy of non-interference with law enforcement agencies, federal institutions must safeguard public confidence in electoral integrity.
The controversy erupted on August 5 when the anti-graft commission dispatched a letter to First Bank placing a Post-No-Debit restriction on Osun State's statutory allocation account. Senior Special Assistant on Media Monitoring to the Governor, Abdul-Jeleel Samakin, confirmed that the affected accounts contained funds dedicated to public operations and civil servant salaries.
Defending its decision, the EFCC disclosed that it had been investigating the Osun State Government since March 2026 over the alleged fraudulent handling and diversion of approximately ₦11 billion in Ecology Funds, Intervention Funds, and Federal Account Allocation Committee payouts.
In a public statement, EFCC Head of Media and Publicity Dele Oyewale explained that while the ongoing probe did not initially warrant freezing government accounts, investigators detected suspicious, large-scale transfers from state coffers into private corporate entities starting August 2.
"The Commission noticed huge transfers of funds into different corporate entities and had to swiftly halt the trend by freezing the accounts from which such heavy funds are being moved," Oyewale said. "The Commission cannot watch idly while a state government's account is being pillaged. While the Commission is fully aware of the impending governorship election in Osun State, it has a responsibility to act in defence of the sanctity of the funds."
Governor Ademola Adeleke swiftly rejected the allegations and challenged EFCC Chairman Ola Olukoyede to publicly justify the restriction, describing the move as illegal, unconstitutional, and politically motivated to paralyse state administration ahead of the polls.
Speaking to journalists in Osogbo, Governor Adeleke insisted the state had committed no financial impropriety and urged the commission to produce concrete evidence. "All I ask is for the EFCC chairman to explain to the good people of Osun State and to Nigerians in general why he froze Osun State Government Account, and show proof to support whatever reason he presents," Adeleke demanded.
The presidential order to halt the freeze aims to diffuse mounting security and political anxieties in Osun State as voters prepare to go to the polls on August 15.