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Ondo Assembly begins probe into source of N4.3b hidden in a bank account for 10yrs

The Ondo State House of Assembly said Friday it had commenced investigation into the N4.3 billion reportedly recovered from an alleged secret account in a commercial bank.

The Chairman of the House Committee on Public Account, Edamisan Ademola, told journalists after plenary that the House had directed the committee to investigate the source of the secret account.

The state government had earlier in the week discovered the funds allegedly hidden in an account domiciled in a third-generation bank for over 10 years.

Ademola said the committee had invited some government officials, including the state Commissioner for Finance, Chief Wake Akinterinwa, the state Accountant-General and the Auditor-General on the recovery.

According to him, the committee was acting on the report of the Auditor-General which stated that over N4.3 billion deposited in a secret account for 10 years had been recovered.

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He said: “The state Auditor-General reported that N4, 319,978,344 was reported by the Chairman of the State Board of Internal Revenue as a recovery from a commercial bank which formed part of the revenue disclosed by the board.”

He commended the Commissioner for Finance for the good and diligent job in discovering the hidden fund which some unscrupulous individuals had kept in a bank for over 10 years.

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