Ondo Assembly probes source of N4.3 billion in ‘secret account’

The Ondo State House of Assembly said it will do everything within its constitutional power to unravel the circumstances surrounding the stashing of a sum of 4.3 billion naira in a ‘secret account’ in a third generation bank. Further revelations concerning the fund came to the fore at plenary on Thursday when the Chairman House […]

The Ondo State House of Assembly said it will do everything within its constitutional power to unravel the circumstances surrounding the stashing of a sum of 4.3 billion naira in a ‘secret account’ in a third generation bank.

Further revelations concerning the fund came to the fore at plenary on Thursday when the Chairman House Committee on Public Accounts, Edamisan Ademola reeled out the list of banks which at various times benefitted from the alleged secret transactions.

Edamisan challenged the competence of the state’s Accountant General for failing to produce necessary documents bearing the transactions and the accrued interest to date.

He maintained that if the statements of financial transactions in the listed banks were not supplied as requested, the House would be forced to take necessary steps as entrenched in the Constitution.

Among other details, the House sought to know the source of the fund, the date the money was lodged into the alleged secret account, the person who authorised the lodging and the accrued interests to date.

The House equally wanted to know how the money which members claimed was not appropriated was spent.

Responding, the Commissioner for Finance, Wale Akinterinwa pledged to provide the necessary documents as requested by the House.

In his ruling, the Speaker of the House, Oleyelogun Bamidele David mandated the Commissioner and the Accountant General to furnish the House with documents on the alleged secret transactions on Thursday May 21, 2020.

The issue of the 4.3 billion naira stashed in a secret bank account was earlier raised at plenary by the Chairman, Public Acounts Committee, Edamisan Ademola, following an audit query from the office of the State Auditor General.

The Finance Commissioner claimed he facilitated the recovery of the money kept in a secret account over ten years ago.