The decision by President Bola Tinubu to on Thursday to veto the Economic and Financial Crimes Commission (EFCC) freezing of Osun State Government account may not have happened without some behind-the-scene pulling of strings, NewsClick Nigeria can authoritatively report.
In a statement personally issued on Thursday, the President said he was “deeply embarrassed not by the EFCC’s exercise of its mandate backed by a court order, but by the timing of the agency’s action”.
Tinubu said he had instructed the anti-graft agency to immediately take steps to reverse the court order and discontinue all related actions against the Osun State Government.
“Accordingly, I have directed the EFCC to immediately proceed to the court to vacate the order and discontinue whatever action it has instituted against the Osun State Government in this regard,” Tinubu said in the statement.
Recall that the anti-graft agency had on Wednesday confirmed that it froze the State Government’s bank account over the alleged fraudulent handling of ₦11 billion in ecological and intervention funds.
In a statement issued on Wednesday, the anti-graft agency said it had been investigating the Osun State Government since March over the alleged mismanagement of the funds.
According to the Commission, several state officials, including the Accountant-General, have been questioned as part of the ongoing investigation.
The EFCC said it observed large transfers from the government’s account to various corporate entities beginning on August 2, prompting the decision to freeze the account.
It therefore said it cannot watch idly while the state government account is being pillaged hence the decision to freeze the account.
The commission said the impending Osun governorship election should not prevent it from carrying out its statutory responsibilities, insisting that the timing of the poll could not justify ignoring suspicious financial transactions.
“These ongoing investigations of the state government would not have warranted any placement of Post No Debit order on its account but for the precipitate and unwarranted movement of funds from the accounts to different suspicious accounts since August 2, 2026.
“The Commission noticed huge transfers of funds into different corporate entities and had to swiftly halt the trend by freezing the accounts from which such heavy funds are being moved.
“The EFCC’s preventive mandate is a public-inclined framework of safeguarding public funds, assets and resources.
“The Commission cannot watch idly while a state government’s account is being pillaged,” the statement read in part.
The commission said the impending Osun governorship election should not prevent it from carrying out its statutory responsibilities, insisting that the timing of the poll could not justify ignoring suspicious financial transactions.
But the state governor, Ademola Adeleke condemned the action, saying the state would not tolerate federal agencies violating the rights of subnational governments.
The governor alleged that his administration had faced several coordinated attacks, including the harassment of Accord Party members and attempts to disrupt the operations of local government councils in the state.
Adeleke added that he had instructed the state Attorney-General to challenge what he described as the “illegality” of the EFCC’s action.
Davido’s loud voice and Seyi’s silent moves
However, one voice that has refused to back down in all of the political drama in the state is that of award winning afrobeats star, and nephew of the incumbent, David Adeleke, globally known as Davido.
Governor Ademola is the younger brother of Davido’s father, Dr. Deji Adeleke, making Governor Ademola the singer’s biological uncle.
Davido maintains a very close personal and public relationship with his uncle, frequently supporting him on the campaign trail and serving as the Chairman of the Imole Youth Mobilisation Committee for his re-election campaign.
He recently held a press conference urging some political actors outside of the state to allow residents vote for their choice. He also frequently shares all the political developments as regards the forthcoming August 15 governorship election on his heavily followed social media accounts.
The singer also maintains robust public relationship with the creme-dela-creme of the nation’s political class including President Tinubu’s son, Seyi, who is reported to have a strong influence on most of his father’s decision in office as president.
“Aside those social media posts concerning developments in Osun, Davido was also said to have personally reached out to Seyi to prevail on his dad to intervene,” a close source to the Adeleke’s and Osun State Government confided in NewsClick Nigeria.
Shortly after news filtered in of the president’s intervention and subsequent directives to the EFCC, spokesperson of Governor Ademola’s campaign team, Pelumi Olajengbesi made a post on his official Facebook page appreciating the president’s son, Seyi.
“Seyi Tinubu is a man of courage whose leadership and unwaivering commitment to a Nigeria founded on fairness and equity continue to inspire many. Thank you for standing for justice. God bless Nigeria God bless Osun State,” his post on Facebook reads.
Seyi Makinde, Atiku, Obi condemn action
Meanwhile, politicians across political divides have condemned the anti-graft agency’s action describing it as a threat to democracy in Nigeria.
Governor Seyi Makinde of Oyo state, presidential candidate of African Democratic Congress (ADC), Atiku Abubakar and his Nigeria Democratic Congress (NDC) counterpart, Peter Obi all urged the EFCC to not be allowed itself to be used as political witch hunting tool in the hand of the ruling All Progressives Congress (APC).
In a statement shared on his X handle on Thursday, the Oyo state governor condemned what he described as the increasing use of federal agencies to disrupt governance in opposition states, warning that such actions threaten Nigeria’s democracy.
“The increasing use of federal institutions to disrupt governance in opposition states in Nigeria is condemnable,” he said.
Makinde maintained that while no government should be exempt from scrutiny, using anti-graft agencies to selectively target certain states or public office holders erodes public confidence in public institutions.
“As I said in my last newsletter, no government is above scrutiny but when institutions like the Economic and Financial Crimes Commission (EFCC) are utilised to witch hunt specific states or public office holders, it indicates that their investigations are selective and erodes public trust in these institutions,” he stated.
The governor also criticised the alleged freezing of an official state government account, describing the action as unlawful.
“The ‘freezing’ of an official state government account without due legal process goes beyond the powers vested in the EFCC by the laws of our land,” he said.
Makinde further alleged that the timing of the action suggested an attempt to influence the forthcoming Osun State governorship election.
“And the timing of the action suggests that this is just another attempt by the federal government to unduly influence the forthcoming governorship election in Osun State,” he added.
Reacting, the ADC presidential candidate in a statement issued on Thursday by his Senior Special Assistant on Public Communication, Phrank Shaibu, the former Vice President, who served from 1999 to 2007, said the timing of the action was capable of eroding public confidence in the credibility of the forthcoming governorship election.
“It is impossible to ignore the implications of freezing a state’s principal operational account on the eve of a governorship election. Such an action could disrupt governance, delay salary payments, impede essential public services and create an atmosphere of intimidation that has no place in a democratic society,” Atiku said.
“I have always supported a relentless fight against corruption. However, that fight must never become a tool for political intimidation or the suppression of democracy,” Obi said.
He argued that institutions responsible for upholding the law must carry out their duties in a way that inspires public trust, particularly during sensitive political periods.
Obi questioned why the commission decided to freeze the state’s accounts at this stage if the investigation had been ongoing for a long time.
“The timing of this action raises legitimate questions. If investigations had been ongoing for months, why take such a drastic step on the eve of an election?” he asked.