…Opposition party, ADC kicks against move
…We froze Osun account over ‘fraudulent handling’ of N11bn ecological funds -EFCC
The Economic and Financial Crimes Commission’s restriction of an Osun State Government statutory allocation account has triggered a legal debate over the extent of the agency’s power to freeze accounts without prior judicial authorisation, with legal experts pointing to a 72-hour limit for temporary investigative restrictions.
The controversy centres on whether the EFCC can sustain the post-no-debit order beyond the initial 72-hour period without obtaining a court order, particularly as the affected account belongs to a state government and holds funds meant for public expenditure.
The EFCC, in a letter dated August 5, 2026, directed First Bank to place a post-no-debit restriction on the Osun State Government Statutory Allocation account, pending the conclusion of an ongoing investigation.
The letter, signed by Adenike Babalola, an assistant commander of the commission, for the Director
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