EFCC Fights Back: We Have Powers To Freeze Osun Govt Accounts for 72 Hours Without Court Order

The Economic and Financial Crimes Commission, EFCC has insisted that it posseses powers to freeze the Osun state Government account. The anti-graft agency said the law empowers it to freeze any bank account in the country for 72 hours, saying it has not committed any illegality over the issue.

The Commission’s spokesperson, Wilson Uwajaren made the remark while speaking on Arise Television on Thursday amidt the public backlash that has trailed its decision to freeze one of the accounts of the state government.

Not a few Nigerians, including the Nigerian Bar Association, NBA have trenchantly condemned the action to be illegal, saying it will hamper government’s financial capability, particularly as the state election is slated for few days, on August 15.

According to the EFCC, the agency has the powers to declare a Post No Debit, PND on any account once it discovers any trace of financial impropriety, which it alleged has been noted in the state account that has now been frozen.

The agency stated that its action was based on public interest despite the criticism it has received from not a few Nigerians, including the state government which regards the action to be politically motivated.

The EFCC stressed that all the accounts belonging to the state government were not frozen, saying suspicious movement f funds have been noticed in the last few days in the account under PND.

“The essence is just to preserve that account because we observed suspicious activities on that account in terms of the transfer of funds to a number of entities within one week. We had to take that decision, not minding the fact that there is an election process in place,” Uwanjuren said.

EFCC Has the Powers To Freeze the Account

According to the commission’s spokesperson, the law permits it to take the action once it establishes suspiciuos movement of public funds, citing Section 34 of the EFCC Act which grants the commission thr ‘authority” to freeze the account for “72 hours” adding that the PND will lifted once it’s satisfied that no suspicious act is going on in the account.

“We have the responsibility under the law to do so because if we don’t take that step and, for instance, funds are looted from the account of the Osun State Government, the Nigerian public will ask, ‘Where was the EFCC when those funds were being moved?

“It does not stop the Osun State Government from running the government of the state because they have access to other funds in the other accounts. What we have done is not a blanket freezing of the account. It’s just a targeted freezing. Once we are satisfied that activities on that account are no longer suspicious, it will be lifted.

“Section 34 of the EFCC Act and Section 7(6) of the Money Laundering (Prohibition) Act 2022 give us that authority,” he said, adding that the commission could maintain such a restriction for up to 72 hours before seeking judicial approval if necessary.

“The restriction order can last within 72 hours before we can come with a court order if we need to provide a court order,” the agency said.