- Ondo state has uncovered N4.3bn
- The money was reportedly kept in a secret account for 10 years
- According to the state government, the commissioner of finance stumbled on the account
In a surprising discovery, the Ondo state government says it has uncovered N4.3bn kept in a secret account for more than 10 years.
According to Donald Ojogo, Ondo commissioner for Information and Orientation, the money was lodged in a third-generation bank without due process.
He disclosed that the account was uncovered through vigilance and discrete financial intelligence of the commissioner for finance, Wale Akinterinwa who stumbled on the account in question and promptly reported the deposited fund, The Nation reports.
“We recall that at inception of this administration, concerted efforts were made to take a comprehensive inventory of all assets and liabilities of Government which include liquidity status.
“This exercise, modestly conducted without the usual noise, was aimed at avoiding sensationalization and needless acrimony. In this regard, all development partners of the government, including Banks rendered highly commendable forms of assistance."
Meanwhile, Legit.ng had earlier reported that Akinterinwa was quizzed by the state House of Assembly on how the N30 billion bond approved by the assembly was accessed and spent by the executive arm.
The assembly says it wants to know the amount that has been accessed as well as the breakdown of projects on which the fund was spent.
Speaking to the assembly, Akinterinwa said only 14.8 billion has been accessed out of the initial N30 billion raised.
Going further, he said that the remaining N14. 2 billion would be accessed soon.
Legit.ng had also reported that the assembly proceeded on an indefinite break in a bid to contain the spread of the coronavirus pandemic.
Bode Adeyelu, the clerk of the House, said this in a statement on Tuesday, April 7, in Akure.
”It is more worrisome that there has been increase in the number of index cases that are being recorded in our country on a daily basis in the last few weeks.
“Among other reasons for the recess is to afford distinguished honourable members the opportunity to embark on sensitisation and awareness campaign to their various constituencies on the need for their constituents to observe the prescribed precautionary measures as outlined by the government."
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