Wednesday, April 13

Revealed! How former head of service Stephen Oronsaye fixed FG’s money for his personal profit

The former head of service to the federation, Stephen Oronsaye has been accused of fixing federal government’s money in the bank for his personal profit. During the continued trial today, April 13, a prosecution witness, Olubumi Ojoko told the court that Oronsaye fixed N285 million belonging to the federal government in his account with Access bank.

Ojoko, a staff of the bank said the money came in four lodgement – N50 million, N90 million, N45 million and N100 million. The witness also said that the second money, a N90 million lodgement was put in a fixed deposit for 90 days at 9% on the instructions of the former head of service

“Upon maturity, the N45 million had come and it was fixed for another 90 days, they were usually rolled over and the interest credited into Mr. Oronsoye’s current account,” Ojoko stated.

She also said that N150 million was later withdrawn with cheques before N163.5 million was taken into Treasury Single Account (TSA). Ojoko also said that when she took over the management of Oronsaye’s account in 2012, she got a call from the former head of service who instructed her to open an account for the Presidential Committee on Financial Action Task Force.

The witness told the court that she took the account opening forms to Oronsaye in his Asokoro residence after receiving an account opening request signed by the secretary to the government of the federation.

“I scrutinized the documents and discovered that the attorney general of the federation’s approval was not included; so I asked him for it and he said it wasn’t necessary,” she said. 

Ojoko added: “I asked for the AGF’s approval because when opening a government account, you need AGF’s approval. But since he stated that it wasn’t necessary, I took him by his word.”

However, it appears Oronsaye fraudulently diverted the funds for the committee for his personal use. The former head of service is facing trial for obtaining money by false pretense After listening to the testimony of the witness, the judge over the matter, Olasumbo Goodluck adjourned trial to Thursday, April 14, for the defence to study the evidence presented by the prosecution.

Mr. Oronsaye is facing a two count charge of fraud and obtaining N190 million by false pretense. He is also accused of receiving N240 million, part of grants received from the presidential committee during his tenure as chairman.

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