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How Ondo Uncovered N4.3b In Secret Bank


Government of Ondo State under the leadership of Governor Rotimi Akeredolu has disclosed how he uncovered N4.3B in a secret account kept for over ten years.

It was gathered that the money was lodged in one of the third-generation banks then years ago without due process.

When the Akeredolu’s government got the clue of the presence of such huge state money lying fallow in the bank, he sought for the services of a consultant to retrieve the money.

Speaking in this regard, Ondo Commissioner for Information and Orientation, Donald Ojogo, in a press statement, said the account was uncovered through vigilance and discrete financial intelligence of the Commissioner for Finance, Mr Wale Akinterinwa.

He said the Finance Commissioner stumbled on the account in question and promptly reported the deposited fund.

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After the discovery, he said the money has been reflected in the records of the State for proper accountability and transparency.

Ojogo’s words:  “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.

“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.

“It should be noted 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.

“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.”

He said the money has been ploughed into the revenue account of government and debunked allegations that a consultant was hired in the course of retrieving the N4.3bn.

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