The government of Ondo state has revealed that N4.3bn has been discovered in a secret account that had been maintained for over a decade. The disclosure was made by Donald Ojogo, the Ondo Commissioner for Information and Orientation, in a statement released on Thursday, May 14.
According to Ojogo, the funds were uncovered as a result of discreet financial intelligence by the Commissioner for Finance, Mr. Wale Akinterinwa. The money had been held in a third generation bank without following due process for more than 10 years.
The Commissioner emphasized the efforts made at the beginning of the administration to conduct a comprehensive inventory of all government assets and liabilities, including its liquidity status. This exercise aimed to avoid sensationalism and unnecessary discord. The Finance Commissioner, the Accountant-General, and the Auditor-General were not in their current positions when the account was opened over a decade ago.
During his appearance before lawmakers, the Commissioner for Finance, Mr. Wale Akinterinwa, confirmed the discovery and stated that the money had been deposited into the government’s revenue account. He also denied allegations of hiring a consultant to recover the N4.3bn.
This revelation sheds light on the government’s commitment to transparency in managing the state’s finances.