President Bola Ahmed Tinubu has expressed concern over the timing of the Economic and Financial Crimes Commission’s (EFCC) decision to freeze the bank accounts of the Osun State Government, saying he feels “deeply embarrassed” by when the action was taken.
According to the President, his concern is not with the EFCC carrying out its statutory responsibilities under a valid court order, but with the timing of the enforcement, coming just days before the Osun State governorship election.
Tinubu reportedly stated that while anti-corruption agencies must be allowed to perform their constitutional duties without interference, such actions should also be carefully timed to avoid creating unnecessary political tension or giving room for allegations of partisanship.
The President reaffirmed his administration’s commitment to the independence of the EFCC and the fight against corruption, stressing that no individual or institution is above the law. However, he noted that the anti-graft agency must always ensure that its operations inspire public confidence and do not undermine the credibility of democratic processes.
His comments come amid growing controversy over the freezing of the Osun State Government’s accounts by the EFCC. The Commission had earlier explained that the action followed an ongoing investigation into the alleged mismanagement of about N11 billion in Ecology Funds, Intervention Funds and Federation Account Allocation Committee (FAAC) allocations. The EFCC maintained that it acted after detecting what it described as suspicious transfers of large sums of money from the state’s accounts to several corporate entities.
The development has sparked political reactions, with the Osun State Government accusing the Commission of attempting to disrupt governance, while the EFCC insists that its actions were solely aimed at protecting public funds and were backed by a court order.
Tinubu’s intervention is expected to fuel further debate over the balance between anti-corruption enforcement and the need to preserve public confidence in democratic institutions, particularly during election periods.