The Economic and Financial Crimes Commission (EFCC) has defended its decision to freeze the Osun State Government’s bank account, saying it acted to prevent the looting of public funds after detecting suspicious transfers of billions of naira into corporate accounts just days before the state’s governorship election. The commission said in a statement on Wednesday that it had been investigating the Osun State Government since March 2026 over the alleged fraudulent handling of Ecology Funds, Intervention Funds and Federal Account Allocation Committee allocations totalling N11bn. “The Commission noticed huge transfers of funds into different corporate entities and had to swiftly halt the trend,” the statement said. “The Osun State Government account was frozen to save public funds from being looted,” the EFCC said. It urged the public to disregard what it described as false narratives and attempts to discredit its operations.