Accord Party calls for EFCC boss Olukoyede’s resignation over Osun account freeze

The Accord Party has called for the resignation of the Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, following the commission’s decision to freeze the Osun State Government’s statutory allocation account.

The party made the demand at a press conference in Abuja, where its National Chairman, Chief Maxwell Mgbudem, accused the EFCC of taking an action that could undermine public confidence in the anti-graft agency.

Mgbudem said that if Olukoyede fails to resign, President Bola Tinubu should consider removing him from office in the interest of preserving the commission’s credibility.

The controversy stems from the EFCC’s directive placing a Post-No-Debit (PND) restriction on the Osun State Government’s statutory allocation account domiciled with First Bank.

The commission said the restriction was part of an ongoing investigation into the alleged mismanagement of about ₦11 billion in Federal Account Allocation Committee (FAAC) funds, Ecology Funds and other intervention allocations. According to the EFCC, the action was intended to prevent the possible diversion of public funds while investigations continue.

However, the timing of the restriction, coming just days before the Osun State governorship election, has generated widespread criticism from political parties, civil society organisations and the state government.

The Osun State Government has challenged the action in court, arguing that the EFCC lacks the authority to freeze a state’s statutory allocation account without obtaining a court order. The state is also seeking damages over the restriction.

Reacting to the development, President Bola Tinubu expressed concern over the timing of the EFCC’s action, stating that it could create the impression that a federal agency was interfering in the electoral process.

The President subsequently directed the commission to take immediate steps through the courts to vacate the restriction and restore the state’s access to its accounts.

While welcoming the President’s intervention, the Accord Party maintained that the incident had raised serious questions about the EFCC’s neutrality.

The EFCC, however, has denied any political motive, insisting that its actions were based solely on its statutory mandate to investigate alleged financial crimes and safeguard public funds.

The controversy has continued to generate debate over the balance between anti-corruption enforcement and the constitutional autonomy of state governments, particularly during election periods.