Why we are Probing The N4.3B discovered in undisclosed state account – Ondo Lawmaker, Elegbeleye

The Lawmaker representing Akoko Northeast state constituency in the Ondo state house of Assembly, Honourable Rasheed Elegbeleye has given some fresh insight into the N4.3 Billion reportedly kept in secret by the late Dr. Olusegun Agagu led government of Ondo.

Elegbeleye, who is a member of the Public Account Committee of the house in an exclusive interview with Nigerian cable news online on Thursday said the money, kept in a Zenith Bank account was unravelled by his committee during its investigations.

According to Elegbeleye, the Mimiko led administration had no knowledge of the money because there was no proper handing-over from the Agagu government after the court sack in 2009.

He also said the committee is seeking clarifications because of the expected interest yield and the refusal of the Bank to willingly brief the government on the issue.

His words:

“I’m a member of the Public Account Committee (PAC), and we discovered the issue during our investigations. The money is part of the what accrued to the Local governments between 2003 and 2009.

“We are asking questions because of the expected interest yeild on the money after about ten years.”

“We also want to know why the Bank has refused to inform the government, before it was discovered.”

“We have called the commissioner for finance, but we were not satisfied we his explanation on it. We have also invited the accountant general and auditor general of the state to tell us more about the money. They are expected to appear before the house today (Thursday May 14th).”

Meanwhile, nigeriacablenewsonline.com also gathered that the money was discovered in February 2018, and was spent for yet to be confirmed transactions until November same year.

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