The Osun State Government has vowed to take legal action against the Economic and Financial Crimes Commission (EFCC) following the anti-graft agency’s directive to freeze the state’s statutory allocation account with First Bank.
Speaking during a press briefing in Osogbo on Wednesday, the state’s Attorney-General and Commissioner for Justice, Oluwole Jimi-Bada, described the action as one that could significantly disrupt government activities, insisting that the state would challenge the directive in court.
According to Jimi-Bada, the government only became aware of the development after the EFCC issued a post-no-debit instruction to First Bank, preventing withdrawals from the state’s statutory allocation account pending the conclusion of an ongoing investigation.
“We will challenge the move and ensure that the agency acts within the ambit of the law,” the attorney-general said, warning that the restriction could adversely affect the day-to-day running of government.
The EFCC’s directive was contained in a letter dated August 5, 2026, signed by Adenike Babalola, Assistant Commander of the EFCC, on behalf of the Director of Investigation.
The letter, referenced 3000/EFCC/ABJ/HQ/PFS/TA/OSUN/VOL.17/666, was addressed to the Managing Director of First Bank, with attention to the bank’s Chief Compliance Officer.
In the correspondence, the commission instructed the bank to place a post-no-debit restriction on the account identified as “Osun State Government Statutory Allocation” (Account Number: 2017170947) until the investigation is concluded.
The EFCC said the directive was a follow-up to an earlier letter dated April 15, 2026.
“In furtherance to the above, you are kindly requested to place a Post-No-Debit on the account. This request is made pursuant to Section 38 (1) & (2) of the Economic and Financial Crimes Commission (Establishment) Act, 2004 and Section 24 of the Money Laundering (Prevention and Prohibition) Act, 2022,” the commission stated.
Also addressing journalists, the Commissioner for Finance, Sola Ogungbile, alleged that police operatives stormed the main branch of First Bank in Osogbo on Wednesday and arrested some members of the bank’s staff.
The latest development comes amid rising political tension ahead of the Osun State governorship election scheduled for August 15.
Governor Ademola Adeleke had earlier alleged that the EFCC was planning to freeze all bank accounts belonging to the state government ahead of the poll.
In a statement issued on Wednesday by the Commissioner for Information and Public Enlightenment, Kolapo Alimi, the governor said he raised the alarm during a meeting at the Government House in Osogbo on Tuesday.
According to the statement, Adeleke also alleged that the anti-graft agency intended to extend the restriction to the personal accounts of top government officials.
The governor described the alleged plan as “the height of lawlessness”, arguing that freezing the state’s accounts would effectively cripple government operations in the days leading to the governorship election.
Neither the EFCC nor First Bank had publicly responded to the allegations by the Osun State Government as of the time of filing this report.
