Uneasy calm over N4.3b ‘secret account’ in Ondo

The Ondo State House of Assembly recently announced that it would probe the source of 4.3 billion naira uncovered in a secret account and how the said fund was expended. The amount was said to have been secretly lodged in a new generation bank over 10 years ago. The assembly said it would do everything […]

The Ondo State House of Assembly recently announced that it would probe the source of 4.3 billion naira uncovered in a secret account and how the said fund was expended.

The amount was said to have been secretly lodged in a new generation bank over 10 years ago.

The assembly said it would do everything within its constitutional powers to unravel the circumstances surrounding the stashing of the sum in the said secret account.

The House also said it was interested in how the said money was spent by the Akeredolu’s administration without appropriation.

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

Edamisan faulted the competence of the State’s Accountant General for failing to produce necessary documents bearing the transactions and the accrued interests 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 also know how the money which members claimed was not appropriated was spent.

The state Commissioner for Finance, Mr 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.

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

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

The House has vowed to get to the root of the secret transactions in the interest of transparency and accountability, as elected representatives of the people.

Shortly after the lawmakers who just returned from recess made their discovery public, the executive arm knew they were set for a showdown.

While the controversy continued and opposition parties and groups call for probe and interventions, the House suddenly barred members from speaking to journalists on the matter after they reportedly met with the executive arm.

The lawmakers were said to have come under pressure and intimidation to soft pedal their move towards probing the source of the fund.

In the midst of the pressure, the House abruptly proceeded on a one month recess.

But some of the lawmakers said they would not be intimidated, saying they would ensure full investigation into the matter.

Just before the House announced the emergency recess, Chairman, House Committee on Public Accounts, Edamisan Ademola had acknowledged the receipt of documents relating to the transactions on the 4.3 Billion naira under investigation

He promised that the Joint Committee on Public Accounts and Finance and Appropriation will do justice to the documents and report back to the House.

Speaking on the issue, the Speaker of the assembly, Oleyelogun Bamidele David said the investigation into the 4.3 billion naira financial transaction, which is in the public domain, was in line with the constitutional responsibility of the House.

He warned against negative reports in the social media which are inimical to public interest.

Meanwhile, the Ondo State chapter of the Peoples Democratic Party (PDP) has urged the Economic and Financial Crimes Commission to probe Governor Oluwarotimi Akeredolu over alleged lack of transparency on the controversial N4.3 billion fund.

The party in a Press Statement signed by its State Director of Media and Publicity, Mr Zadok Akintoye said the investigation has shown that the Akeredolu-led government has been economical with the truth .

It added that the government has violated the law with its intentions not to disclose the receipt of such funds until it was recently discovered by the lawmakers.

But the Ondo State Commissioner for Information and Orientation, Donald Ojogo described the call by the PDP as unusual for an opposition party.

“It’s an overstressed call, not unusual of any opposition party; we are not disturbed by any such call because the accounts of the state are there for all to see. Government has nothing to hide. “Even the books of the Finance Ministry are clear in reporting the discovered fund”, he said.

Also, the State’s Commissioner for Finance, Wale Akinterinwa, said there was no issue of fraud as being speculated.

“The executive is not hiding anything. The story of non-appropriation is utterly mischievous”, he said.

According to him, at inception of the Akeredolu’s administration, concerted efforts were made to take a comprehensive inventory of all assets and liabilities of government which include liquidity status.