N4.3B Secret Account: Financial Expert raises Ten Questions for Ondo govt

May 15, 2020

2.1 min readCategories: News

A Fellow Chartered Accountant and a World Bank Project Management Consultant, Engr Ogunwa Omoniyi Oboli, has raised ten questions and gave three recommendations over the N4.3B Secret Bank Account allegedly uncovered by Ondo State Government.

Starnews NG reports that Ondo State Government said it has uncovered the sum of N4.3 billion secretly stashed in a bank account for the past 10 years without following a due process as Governor Oluwarotimi Akeredolu-led government and the State House of Assembly are currently trading words over the said secret account.

But in a statement sent to Starnews NG on Saturday, Engr Oboli, a world-class financial expert, wrote:

”My Professional comments and recommendations on the purported N4.3B Secret Account discovered by the government”

”I want to dislodge the impression of the public that money lodged in a secret account may be for an overriding public interest if the following assumed conditions are met.”

”1.0 Was the Account opened in government name or personal name?”

”2.0 What is the purpose of the Account?”

”3.0 Who opened the account and who are the signatories to the Account?”

”4.0 What are the particulars of the Account, that is the Principal and the accruable Interest.

5.0 What is the current status of the Account whether is dormant or active?”

”6.0 How much was lodged at the opening point and is there any further lodgements and how frequent were they and the period?”

”6.0 Were there some withdrawals, how much and for what purposes?”

”7.0 If the answer to question 6 is yes, do they follow a due process including legislative budgetary approval?”

”8.0 Who discovered the Secret Account, how and when?”

”9.0 Who were the Commissioner for Finance, State Accountant General, State Auditor General and State Attorney General and the Governor during this concerning basis period both at the lodgements and withdrawals (if any).”

”10.0 Which bank was the Account opened and Who were the bank managers then.”

”Without prejudice to the above, I here recommend the following:”

”1.0 The Ondo State House of Assembly should constitute a Special Public Audit Investigation Committee.”

”2.0 The members of the said Committee should be independent and devoid of any Political considerations, loyalty or affiliation but Professional!”

”3.0 The interest of the Ondo State taxpayers should be paramount in their terms of reference. They should be at liberty to invite relevant professionals of proven skills, experiences and integrity for this important assignment.”

”The oncoming generation will not pardon any coverups as usual in this task.”

”Finally, the public is eager to hear the outcome of this special investigation as soon as possible”, Oboli said in the statement.

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