The Economic and Financial Crimes Commission (EFCC) has ordered First Bank of Nigeria to restrict withdrawals from the Osun State Government’s statutory allocation account as part of an ongoing investigation.

According to a report by Punch, the directive was conveyed in a letter dated August 5, 2026, and signed by Assistant Commander of the EFCC, Adenike Babalola, on behalf of the Commission’s Director of Investigation.

In the letter, the anti-graft agency instructed the bank to place a “Post-No-Debit” restriction on the account, effectively halting any withdrawals or transfers while permitting inflows.

The correspondence, referenced 3000/EFCC/ABJ/HQ/PFS/TA/OSUN/VOL.17/666, was addressed to the Managing Director of First Bank, with a copy sent to the Chief Compliance Officer for necessary action.

The account affected is identified as “Osun State Government Statutory Allocation,” bearing account number 2017170947.

The EFCC noted that the directive follows an earlier communication dated April 15, 2026, also linked to the ongoing probe.

The letter stated: “Refer to our letter CR:3000/EFCC/ABJ/HQ/PFS/TA/OSUN/VOL.17/165 dated 15th April, 2026, on the above subject. In furtherance to the above, you are kindly requested to place a Post-No-Debit on the account.”

While confirming that the restriction is tied to an investigation, the Commission did not disclose specific details of the allegations or name any individuals involved.

The EFCC explained that the action is backed by legal provisions, citing Section 38 (1) and (2) of the EFCC (Establishment) Act, 2004 and Section 24 of the Money Laundering (Prevention and Prohibition) Act, 2022.

A Post-No-Debit order prevents funds from leaving an account, though deposits may still be received unless otherwise directed by the relevant authority.