President Bola Tinubu has ordered the Economic and Financial Crimes Commission (EFCC) to immediately lift the restriction placed on an Osun State Government statutory allocation account. The President`s intervention follows intense political controversy and public outrage just days before the state’s August 15 gubernatorial election. Tinubu expressed deep embarrassment over the timing of the anti-graft agency`s action, warning that federal institutions must not appear to be interfering with democratic processes.

The controversy began on Wednesday when the EFCC directed First Bank of Nigeria Limited to freeze the state`s account. According to the commission, the action was triggered by the sudden, suspicious movement of funds. The agency revealed that the restriction was part of an active investigation into the alleged fraudulent handling and laundering of approximately ₦11 billion in Ecology Funds, Intervention Funds, and Federal Account Allocation Committee (FAAC) allocations.

Defending its actions, the EFCC stated that it operated strictly within its legal mandate. The commission’s Director of Public Affairs, Wilson Uwujaren, explained that the agency acted under Section 34 of the EFCC Act and Section 7(6) of the Money Laundering Act, 2022. These provisions allow a temporary 72-hour restriction on suspicious accounts before securing a formal court order. Uwujaren emphasized that the move was purely driven by intelligence gathered on August 2 to preserve public funds, noting that a similar non-political intervention was successfully executed in Edo State prior to its recent election.

However, the timing of the freeze sparked immediate resistance from the Osun State Government. Led by Governor Ademola Adeleke, the state authorities swiftly filed a lawsuit against the commission at the Federal High Court in Abuja. In the suit, marked FHC/ABJ/CS/1762/2026, the state is demanding ₦2 billion in exemplary damages. The plaintiffs argue that the EFCC and First Bank restricted the statutory account without a subsisting court order, leaving the state`s financial operations paralyzed on the eve of a critical election.

In its originating summons, the Osun State Government strongly condemned the bank directive as an act of executive lawlessness and a flagrant abuse of statutory powers. The state`s legal team has asked the court to determine whether the freeze constitutes an unlawful suppression of the constitutional functions of a federating unit. They contend that the agency`s actions directly threaten the financial autonomy of the state and infringe upon the democratic rights of the people of Osun.

The situation has also ignited a fierce wave of public fury across Nigeria, particularly on social media. Citizens and opposition groups have heavily criticized the anti-graft agency, with many demanding the immediate resignation or removal of the EFCC Chairman, Ola Olukoyede. While some civil society groups and legal experts have backed President Tinubu`s decision to maintain regional stability, opposition parties remain skeptical, openly questioning the presidency`s explanation of the events.

In a personally signed statement, President Tinubu clarified that while he supports the independent mandate of anti-corruption agencies, preserving public confidence in election credibility remains paramount. "Osun State is only a few days away from its gubernatorial election," Tinubu stated. "Therefore, nothing ought to be done to give an impression that the EFCC or indeed any other agency of the Federal Government is being used to interfere with the election."

Following the presidential directive, the EFCC is expected to approach the federal court immediately to vacate the restriction order and discontinue its current proceedings against the state account. The development leaves the ₦11 billion corruption investigation in a delicate balance as political actors refocus their attention entirely on the upcoming August 15 polls.