How Ondo discovered N4.3bn ‘kept in secret account’ for 10 years

The Ondo state government says it has discovered N4.3 billion secretly kept in a bank account for 10 years.

In a statement on Thursday, Donald Ojogo, commissioner for information, said the account domiciled in a third-generation bank was uncovered by Wale Akinterinwa, commissioner for finance.

He said the government is committed to making the management of the state’s finances as transparent as possible.

“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,” Ojogo said.

“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

“In his vigilance through discrete financial intelligence, the commissioner for finance in the state was able to stumble on the account in question and deposited fund promptly reported.

“Same has also reflected in the records of the state for proper accountability and transparency.

“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.”