Osun: EFCC Boss Olukoyede’s Job Under Threat? Presidency Gives Fresh Update

Osun: EFCC Boss Olukoyede’s Job Under Threat? Presidency Gives Fresh Update
Opposition figures called for Olukoyede’s resignation over the Osun account freeze.
Court documents revealed EFCC froze three Osun Government accounts.

The Presidency has dismissed suggestions that the Chairman of the Economic and Financial Crimes Commission, Ola Olukoyede, could be removed from office over the freezing of the Osun State Government’s accounts days before the August 15 governorship election.

Contents

Calls Mount For Olukoyede’s Resignation
Presidency Says EFCC Chairman Is Not Facing Sack
Court Order Reveals Three Osun Accounts Were Frozen

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EDITOR’S PICKS

EKO HOT BLOG reports that calls for Olukoyede’s removal intensified on Friday after opposition figures criticised the EFCC’s action, describing it as politically motivated and alleging that the commission had demonstrated partisanship ahead of the election.

The EFCC had on Wednesday placed a Post No Debit restriction on an Osun State Government account domiciled with First Bank over what it described as suspicious transactions.

The commission said it had been investigating the account since March 2026 and had the authority to restrict an account for up to 72 hours based on reasonable suspicion.

President Bola Tinubu subsequently directed the EFCC to unfreeze the account, describing the timing and circumstances surrounding the action as embarrassing.

Calls Mount For Olukoyede’s Resignation

The National Chairman of the New Nigeria People’s Party, Major Agbo, criticised the presidential directive in an interview with Punch, arguing that the EFCC should have been allowed to complete its investigation.

He said the timing of the action might have been questionable but maintained that the commission was carrying out its statutory responsibility.

“When I saw the President’s order directing that the account be unfrozen, I was surprised because, if I were him, I would have allowed the EFCC to do its job. It does not matter when it acted. The timing may have been wrong, but what is important is that it was carrying out its mandate.

“But asking the EFCC to unfreeze the account does not speak well of the commission’s independence. The implication is that it takes orders from the President.”

Asked whether he supported calls for Olukoyede’s resignation, Agbo said, “Yes. Sadly, it has to happen.”

The National Coordinator of the Obidient Movement Worldwide, Yunusa Tanko, also advised Olukoyede to consider resigning to protect his reputation.

Tanko said the President’s directive had created an impression that the EFCC chairman was operating under political influence.

“Ultimately, if I were Olukoyede, to save my reputation and integrity, I would leave while the ovation is loudest. Otherwise, there will be more problems for him in the near future.

“The kind of response I got from the EFCC shows that Olukoyede tried to assert his independence. It seems the directive from a higher authority made him look like a puppet.

“So, the problem is actually with the person giving the directive, not the person executing it.”

Presidency Says EFCC Chairman Is Not Facing Sack

However, sources within the Presidency who spoke with Punch dismissed reports that Tinubu was considering Olukoyede’s removal.

According to one official familiar with the matter, the President’s frustration was directed at the timing and public perception of the EFCC’s action rather than the chairman’s leadership of the commission.

“No, he still has his job. The fact that the President said he was embarrassed by the EFCC’s move does not mean he will be fired,” the official said.

Another source said he spoke directly with Olukoyede on Wednesday night and confirmed that the EFCC chairman remained in office.

“I spoke with him last night. He still has his job. Do you get fired every time you have a disagreement with your boss? No, it doesn’t mean he will be fired.

“Someone had to take the fall, and in this case, it is the EFCC chairman. That alone is not a basis for dismissal,” the source said.

Court Order Reveals Three Osun Accounts Were Frozen

Meanwhile, a fresh court document has revealed that the EFCC obtained an order to freeze three bank accounts belonging to the Osun State Government over allegations of public funds diversion and money laundering.

The order, granted by the Federal High Court in Abuja on August 5, 2026, authorised the commission to restrict transactions on the accounts pending the conclusion of its investigation and any subsequent prosecution.

The development has provided further details about the scope of the EFCC’s action, which has generated controversy ahead of the August 15 governorship election.

According to the court document obtained by SaharaReporters, Justice M.G. Umar granted the EFCC’s ex parte application in Suit No. FHC/ABJ/CS/1750/2026.

The case was titled, “In the Matter of an Application by the Executive Chairman of the EFCC.”

The affected accounts include the Osun State Government Federal Allocation Account domiciled with First Bank and two Osun State Joint Allocation Accounts domiciled with Zenith Bank.

The EFCC told the court that the accounts were “currently being investigated in a case of diversion of public funds and money laundering pending conclusion of investigation and prosecution.”

The court ordered that the restrictions remain in force pending the conclusion of the investigation and prosecution.