#4.3B SECRET ACCOUNT : ODHA SET TO IMPEACH AKEREDOLU - The fund is properly appropriated - Akinterinwa

All seems not yet done  over the issue of #4.3 billion in a  secret account in Ondo  state, as Governor Oluwarotimi Akeredolu may need to urge the state Commissioner for Finance, Mr. Wale Akinterinwa and the state Accountant-General, Mr. Laolu Akindolire, to provide the state House of Assembly with the proof that N4.3 billion discovered, withdrawn and spent was actually appropriated for or risks being served impeachment notice soon.

Information from the House of Assembly indicate that if the two finance managers in the cabinet failed to provide convincing evidence that the money was appropriated for in the 2018 Appropriation Bill, the governor would be served impeachment notice for breach of the constitution.

The source described the alleged withdrawal of the huge sum in secrecy without informing the House about the discovery and appropriated for as criminal and  impeachable offence.

  

 Referring to the discovery of the House that the said N4.3 billion was transferred from the initial secret account to another six different accounts between February and June, he said it smacked suspicion and tendency to defraud.

The Assembly on Thursday commenced the probe of the N4.3billion found in a secret account of the state government domiciled in the Zenith Bank Plc by one of the past administrations, for over 10 years. The Oluwarotimi Akeredolu-led administration allegedly withdrew and spent the said money without being appropriated for.

In its resolve to do everything within its constitutional power to unravel the circumstances surrounding the money kept secretly in the bank for over 10 years and the accrued interest on the money, Mr. Bamidele Oloyeloogun, the speaker of the state Assembly, has directed the Finance Commissioner and the Accountant-General to produce within seven days all necessary documents that explicitly state all transactions on the said account.

Hon. Ademola Edamisan, Chairman, House Committee on Public Accounts, on Thursday vowed that the House would get to the root of the matter. He said, “They (executive) claimed they have recovered N4.3 billion from the money but the committee is keenly interested in the actual interest generated for over 10 years and we requested for a comprehensive details of the account.

“The committee is interested in full details on how the account is being operated over the years, who authorised the opening of the account, who are the signatories and when was the account opened and all other necessary transaction on the account.

 “We hope the commissioner and the accountant-general will come out with the comprehensive details of the account, so we will be able to calculate the cost running interest so far in the account.

“The committee discovered after a thorough investigation that the said money has been transferred from the initial account in Zenith Bank to another six different state government bank accounts in less than five months from period of February to June 2018.”

Information gathered revealed that Akinterinwa as Commissioner for Finance during Mimiko’s Government moved the money from current to deposit account in order to get interest on the deposit. The source added that when he came back as Commissioner for Finance for second time he moved the money from primary account to another one.

 “Between 2nd of Feb and June 28, 2018, all the money was spent. They moved N2b to Wema, N1b to Providus, N300m to Sterling, N600 million to another account in Zenith. “They also made two withdrawals N50m and another N385 million.

 The money was not declared, it did not reflect in the 2019 budget or 2020 appropriation budget “Another fraud was that they moved the money as revenue as IGR to Board of Internal Revenue and some consultants were said to have  collected 25 percent from the money.”

Some members of the House that speak on the  matter and preferred to remain anonymous, noted that the actions of all that involved in the deal is criminal and need to be brought to book for prosperity.

However ,the Ondo state government through the commissioner for finance,Wale Akinterinwa insisted that the uncovered N4.3bn hidden in a Zenith bank account for over 10 years was appropriated for in the 2019 budget,following the outcry  generated by the discovery of the hidden fund in the bank.

This is just as the All Progressives Congress in Ondo State has waded into matter to possible avoid a face off between the Executive and principal officers of the Legislature over the matter.

Akinterinwa said there was nothing to hide about the fund discovered in 2018 and lies peddled by mischief makers that there was no appropriation for the money in question.

He said “ The Executive is not hiding anything like we have always said. The narrative set out by mischief makers is that there was no appropriation for the money in question. This is untrue. 

The 2019 appropriation passed by the Assembly included among others, this N4.3b under overall summary of the budget, item on Cash reserve/roll over fund is very apt and unambiguous for the public to confirm the truth. The story of non appropriation is utterly mischievous. “Akinterinwa insisted .

While the questions on the said account are, for how many years was the money stached in the account before it was discovered by the present administration, full details on transactions on the account to date and why did the executive failed to alert the citizenry on the said account, a member of the House of Assembly queries.