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Fayose's Aide Reveals Fayemi's Budgetary Prodigality: Justified Or Not?! - Politics - Nairaland

Nairaland Forum / Nairaland / General / Politics / Fayose's Aide Reveals Fayemi's Budgetary Prodigality: Justified Or Not?! (470 Views)

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Fayose's Aide Reveals Fayemi's Budgetary Prodigality: Justified Or Not?! by chachanga: 2:54pm On Jun 16, 2016
Fayose’s aide blasts Fayemi’s ex-finance commissioner - Michael

Fayose’s has said Fayemi’s Ex-finance commissioner presided over looting of Ekiti treasury

– Olayinka said the commissioner only attempted to cover up the mismanagement of the state finances under the APC government of Dr Kayode Fayemi




Special assistant to the governor of Ekiti state on public communications and new media, Lere Olayinka has described claim by the immediate past commissioner for finance of the state, Mr Dapo Kolawole, that the State Government could afford to pay workers three months salary as “feeble attempt to cover up the mismanagement of the State finances under the All Progressives Congress (APC) government of Dr Kayode Fayemi,”.

Olayinka said “it is only in the world of miracle that a State that was plunged into debt and is losing over N1 billion to loan deductions monthly can sustain regular payment of salaries.”

Speaking further, Olayinka said despite that under the APC government of Fayemi, Ekiti State received N46.4 billion from the Excess Crude Account, N25 billion bond was taken and N31 billion commercial bank loan was obtained, adding that; “In saner climes, the likes of Dapo Kolawole will be covering their faces in shame, having presided over the unprecedented looting of Ekiti State treasury and plunging of the State into unwarranted debt.”

He said; “It is on record that Ekiti State total allocation for the month of December 2015 was N1, 375,829,004.08 after N883, 008,554.30 was deducted as loans repayment. Allocation of January 2016 was N1, 663,173,328.66 after N883, 008,554.30 was deducted. In February 2016, Ekiti was left with N1, 376,976,264.33 after N928, 664,494.75 was deducted as loans repayment.

In March 2016, the State received N1, 084,469,706.86 after N1, 067,497,185.93 was deducted. In April 2016, N1, 187,089,416.84 was received after N732, 937, 967.12 was deducted and deductions from the allocation would have been N1, 067,497,185.93 if deductions on Salary Bailout and Commercial Bank Loan amounting to N334, 559,218.81 was made.

“The reality is; if Ekiti was not plunged into debt by the Fayemi’s government, the State would have received N1, 920,027,383.96 for the month of April, 2016; N1, 860,919,359.32 in May, 2016; N2,
151,966,892.79 in March, 2016; N2, 324,677,903.78 in February, 2016; N2, 546,181,882.96 in January, 2016 and N2, 258,837,558.38 in December, 2015!

Therefore, a man like Dapo Kolawole, who as Finance Commissioner ran the State economy aground should just cover his face in shame instead of running from one media house to another to justify the use of borrowed funds to plant flowers, construct uncompleted State Pavilion, Civic Centre, Governor’s Lodge among others irrelevant projects”

Speaking further, Olayinka disclosed that Dapo Kolawole was the arrowhead of the borrowing of over N1.2 billion from First Bank Plc for the purchase of 156 units of Ford vehicles from Coscharis Motors Limited, for traditional rulers in the State on which N45.9 million is being paid by the Local Councils monthly.

He said; “It is on record that only 156 units of the vehicles were delivered while Coscharis, in its letter dated May 2, 2014 said it delivered 235 units. Up till today, the remaining 79 vehicles are yet to be accounted for and all petitions to anti-corruption agencies have been ignored.

“It is also on record that in clear demonstration of fraud, proposal for the supply of vehicles was submitted on November 14, 2013 while the vehicles were distributed to the Obas on August 27, 2013! The supplier, Coscharis also registered as a civil/building contractor in Ekiti State on November 13, 2013.

“Under Dapo Kolawole as Finance Commissioner, Coscharis that only registered as a civil/building contractor in Ekiti State on November 13, 2013 and submitted proposal for the supply of the vehicles on November 14, 2013, supplied the vehicles on which the proposal was submitted in August 2013 and the vehicles were distributed on August 27, 2013, three clear months before the proposal to supply the vehicles was made.

“Furthermore, it is also on record that instructions were sent to Local Government Chairmen on November 15, 2013 to deliberate on the proposal sent by Coscharis on November 14, 2013 in their F&GPC meetings and their decision to get back to the Ministry of Local Government and Chieftaincy Affairs not later than November 22, 2013; while the vehicles they were to deliberate upon in the F&GPC meetings in November were delivered in August and distributed to the Obas on August 27, 2013.


“Also, while the vehicles were distributed on August 27, 2013 and the tracking done on September 13, 2013, certificate of no objection to procure the vehicles was issued on February 24, 2014. All these happened under Dapo Kolawole as Ekiti State Finance Commissioner!”

“It was also under Dapo Kolawole as Finance Commissioner that N852, 936,713.92 was illegally withdrawn from the State Universal Education Board (SUBEB) account, making the Universal Basic Education Commission (UBEC) to suspend Ekiti State from accessing any further FGN-UBE Intervention Fund.

“It is on record that UBEC, in its letter dated April 16, 2015, with Reference Number; UBEC/FA/SUBEB/EK/183/Vol.II/162 described the withdrawal of N852, 936,713.92 authorised by Dapo Kolawole as criminal act that violated Section 11(2) of UBE Act 2004 and conveyed its suspension of Ekiti State from accessing any further FGN-UBE Intervention Fund.

“Above are just two aspects of the financial mismanagement superintended over by Dapo Kolawole and common sense demands that characters like him should just keep mum while the Government of Ayodele Fayose goes about finding solutions to the financial crises caused by the frivolous loans obtained by the Fayemi-led APC government.”


SOURCE: https://www.naij.com/862535-face-off-fayose-blasts-buharis-minister-says-presided-looting-ekiti-treasury.html

Loooooooooong Story plus Salacious Revelations like this require some little caution.

Non-payment of Salaries' unjustified but some legislation ought to be in place to prevent Governors from borrowing their States & incoming generations into penury.

Whatever creative solutions can help should be given now because Ekiti people are not finding it funny at all.

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