Oronsaye deposited N285m in fixed deposit account, says witness

Former Head of Service of Federation, Stephen Oronsaye PHOTO: Ladidi Lucy Elukpo

Former Head of Service of Federation, Stephen Oronsaye PHOTO: Ladidi Lucy Elukpo

A prosecution witness, Olubunmi Ojoko, has told an FCT High Court that Stephen Oronsaye, called for the opening of the account for Presidential Committee on Financial Action Task Force.

Ojoko, an account officer with Access Bank Plc.,and witness to the Economic and Financial Crimes Commission (EFCC) gave the confirmation in Abuja on Wednesday.

Oronsaye, a former Head of Service of the Federation, and chairman of the committee, was arraigned on two-count of criminal breach of trust of diverting N190 million meant for the committee.

At the resumed hearing, Ojoko, the second EFCC witness, tendered documents relating to the opening of the account, account statements and transactions.

Ojoko told the court that the defendant did not give her approval from the office of Accountant-General of the Federation when she demanded for it.

She said that N285 million was deposited in the said account in four stages of N50 million, N90 million, N45 million and N100 million.

The witness said that the first to third stages of payment was from the Central Bank of Nigeria, while the last was from the office of the National Security Adviser.

She said that the money was placed in fixed deposit for 90-day maturity at each maturity the interest accrued was sent to some beneficiaries, including Oronsaye.

Ojoko said that 28 investments were made during the period and from September, 2013 to March 2015, the defendant withdrew about N35.4 million from the account.
The witness told the court that N163.5 million left with the bank had been transferred in the treasury single account.

Oronsaye’s Counsel, Chief Kanu Agabi (SAN), applied for a date to enable him study all documents tendered to cross-examine the witness.

Justice Olasumbo Goodluck adjourned the case till April 14 for the continuation of cross examination.

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