Fayose - reasons for probing Fayemi

Ayodele Fayose  Ekiti State Governor,  explained the reasons his government is probing the financial transactions of the administration...



Ayodele Fayose  Ekiti State Governor,  explained the reasons his government is probing the financial transactions of the administration of his predecessor, Dr. Kayode Fayemi.

Fayose explained that apart from the N25bn bond Fayemi took from the capital market, the administration also took N31bn commercial loans which the Securities and Exchange Commission now wanted the state government to take responsibility for.

The punch reporting…

Fayose stated this in Ado-Ekiti on Monday night while featuring in an interview programme on state radio and television.

The governor, through his deputy, Dr. Kolapo Olusola, had on Monday morning inaugurated a Judicial Commission of Enquiry to probe the finances of the state under Fayemi from October 2010 to October 2014.

Saying that the bond was meant for projects such as civic centre, state pavilion, new Governor’s Office, new Government House, the governor said most of the projects were never completed.

Adding that the N31bn commercial loans were also wasted and the state committed to serving the loans with about N1.1bn monthly until the year 2036.



The punch

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