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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