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Ondo Assembly blows hot on N4.3b secret account, accrued interest


Following the discovery of N4.3 billion stashed in a secret account of a third generation bank, Ondo State House of Assembly has vowed to unravel the mystery behind the gross abuse of office and malfeasance of public funds.

Chairman House Committee on Information, Olugbenga Omole, disclosed this in a statement yesterday, declaring that they’d do everything within to investigate it.

Meanwhile, revelations concerning the fund came to the fore at plenary when the House Committee on Public Accounts raised the matter and questioned the executive concerning the funds.

There have been controversies over which regime hid the money in said account as the statement released by the state Commissioner for Information and Orientation, Donald Ojogo, to absolve the present administration, suggested that the fraud happened during the immediate past administration.

But an aide to the immediate past governor, Olusegun Mimiko, refuted the allegation, declaring that investigations showed that the account was opened more than 10 years ago before Mimiko was sworn in as governor in 2009.

To further unravel the mystery, the lawmakers, among other details, sought to know the source of the funds, the date the money was lodged into the alleged account, the person who authorised the lodging and the accrued interest to date.

House Committee Chairman, Edamisan Ademola, who first raised it at Tuesday’s plenary, reeled out the list of banks which at various times benefitted from the alleged secret transactions.

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

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