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Ondo discovers N4.3bn in secret account

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Ondo State Government has discovered N4.3bn kept in a secret account for more than 10 years.

News gathered that the money was lodged in a third-generation bank without due process over 10 years ago and a consultant was hired to retrieve the money.

Ondo Commissioner for Information and Orientation, Donald Ojogo said that the account was uncovered through vigilance and discrete financial intelligence of the Commissioner for Finance, Mr Wale Akinterinwa.

The Finance Commissioner who stumbled on the account in question promptly brought the deposited fund to the notice of the government.

He further explained that the money has been reflected in the records of the State for proper accountability and transparency.

His statements read thus “We recall that at the inception of this administration, concerted efforts were made to take a comprehensive inventory of all assets and liabilities of Government which include liquidity status.

He mentioned that the uncovering exercise was modestly conducted without the usual noise, with the aim of avoiding sensationalization and needless acrimony. In view of this, all development partners of the Government, including Banks rendered highly commendable forms of assistance.

Note that neither the Finance Commissioner nor the Accountant-General was in his present position as at when the said account was opened more than ten years ago, he added.

“The invitation of the Finance Commissioner by the House of Assembly and indeed, same extended to both the State Accountant-General and the Auditor-General are in line with Government’s desire to make as transparent as possible, the management of our commonwealth in Ondo State.”

While telling the lawmakers that he facilitated the discovery of the money stashed in a bank account, the Finance Commissioner also refuted allegations that a consultant was hired to retrieve the N4.3bn, and said the money was been ploughed into the revenue account of government.

Reported by: Fatimah Oyesanmi

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