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President Bola Tinubu has directed the Economic and Financial Crimes Commission (EFCC) to immediately take steps to vacate the court order freezing an Osun State Government bank account.
The directive was conveyed in a statement issued by the Presidency on Thursday, in which Tinubu expressed concern over the timing of the account restriction while reaffirming the EFCC’s constitutional mandate to investigate alleged financial crimes.
According to the Presidency, although the EFCC obtained the court order as part of its investigation into alleged financial infractions involving the Osun State Government, enforcing the restriction so close to the August 15 governorship election was ill-timed.
Tinubu said he had consistently maintained a policy of non-interference in the operations of anti-corruption and law enforcement agencies, insisting that such institutions must be allowed to discharge their responsibilities independently and professionally.
He noted, however, that the circumstances of the case required presidential intervention because the actions of federal agencies are often perceived by the public as reflecting the position of the Presidency.
The President stressed that nothing should be done to create the impression that any federal institution was being used to influence the outcome of the forthcoming governorship election in Osun State.
He added that although he was yet to receive a comprehensive briefing on the investigation, safeguarding the credibility of Nigeria’s democratic process remained a priority.
Tinubu consequently directed the EFCC to return to court without delay to apply for the discharge of the order freezing the state’s bank account.
The EFCC had earlier defended the restriction, maintaining that it was investigating the alleged diversion of about ₦11 billion in public funds and insisting that its actions were backed by law.
The Commission also argued that it has the legal authority to place temporary restrictions on suspicious accounts while pursuing the necessary judicial approvals in accordance with the law.
The development followed the EFCC’s decision to obtain a court order freezing one of the Osun State Government’s bank accounts as part of an investigation into the alleged diversion of about ₦11 billion in public funds.
The Osun State Government rejected the allegations, describing the action as politically motivated and insisting that public funds had been lawfully applied to governance, infrastructure and workers’ welfare.
The account restriction quickly became a major political issue because it occurred just days before the August 15 governorship election.
While the EFCC maintained that its actions were lawful and necessary to protect public funds during an ongoing investigation, the Osun State Government argued that the restriction could disrupt government operations and create the impression of federal interference in the electoral process.
The President’s directive is expected to ease immediate concerns over the conduct of the governorship election while leaving the EFCC’s investigation into the alleged financial infractions to continue in accordance with the law.
The freezing of the Osun State Government’s account generated widespread political and legal debate because it came less than two weeks before the governorship election.
While the EFCC maintained that the restriction was part of a lawful investigation into alleged financial misconduct, the Osun State Government accused the anti-graft agency of acting for political reasons and insisted that no public funds had been diverted.
The Presidency’s intervention seeks to preserve public confidence in the electoral process by ensuring that no action by a federal institution is perceived as influencing the outcome of the election.
The next step is for the EFCC to return to court to seek the discharge of the freezing order in compliance with the President’s directive, while its substantive investigation continues.
