Fayose raises alarm over Fayemi’s plan to raise fresh N1 Billion loan

Ekiti State Governor-elect, Mr Ayo Fayose, has raised an alarm that the outgoing government of Dr Kayode Fayemi has finalized arrangements to raise a sum of one billion Naira fresh loan from a new generation bank barely four days to the end of its tenure.


In a letter with reference number OGE/EK/ADM/ 094 dated October 10, 2014 and signed on the behalf of the Governor-elect by the Chairman, Ekiti State Transition Committee, Chief Dipo Anisulowo, to the Managing Director, of the concerned bank in Lagos, the Fayose team, said it has it on good authority that the new loan will be used to settle the severance allowances of some political office holders.

This came just as the committee equally condemned the outgoing government for alleged illegal transfer of over N856 million from SUBEB project account number 0065385894 with Access Bank Plc. to another account.

According to a statement by the PDP Publicity Secretary in the state, Pastor Kola Oluwawole, the money was the state’s counterpart contributions to the Federal Government Intervention Funds.

He said: “Please be informed that going by UBEC Financial Regulations, it is absolutely unethical to transfer any part of the fund that is available for SUBEB/UBEC project execution in the state without valid instruction.’’

Reacting on behalf of the state government, the Commissioner for Information, Ekiti State, Mr Tayo Ekundayo, dismissed the allegations, saying he was not aware of such arrangement
His words: “I was not in any meeting where such a decision was taken to borrow any money to pay severance allowances of public office holders. It is one of the lies they are telling to confuse the people.

“If we could not take loan to pay salary which is statutory, how can we take loan to pay severance allowances.

“This move will definitely wane down the reputation of the state as one of the least performing states in the federation.”

The committee, however, warned that if its appeal to the bank is not considered and the bank went on to approve the loan, it vowed that the incoming government would not honour the deal.

“Besides, we shall not hesitate to explore all administrative and legal means and processes to deal appropriately with the conduct of your bank ,’’ the statement added.