Fayemi had exhausted all Bank avenues in borrowing had to resort to the stock market to issue 25billion naira bonds.
The total debt portfolio as at the time Fayose came on board was put at between 70-80bn and that did not include salaries of civil servants.
The estimated liquidation date for bank loans alone was 2035!
Fayemi indebted Ekiti for 25yrs just on bank loans as he took the majority of the loans in 2011-2012 when he just came on board and we all knew the loan was meant to settle Tinubu for bankrolling his gubernatorial ambition.
Same thing happened in Osun.
Or have you wondered why Buhari gave out two bailouts to Osun despite the fact that Osun's initial bailout in early 2016 at 40bn was 4 times more than the second largest state recipient (Kano) at 10bn?
2fine2fast: My own is just that anyone wishing any part of Yorubaland evil.... from the lagoons of lagos to the hills of Akoko... THUNDER will fire you.
[/s]
Why will anybody waste their time cursing you when you guys are doing a great job of that own your own?
Fayemi's debt burden on the State was expected to be liquidated earlest by 2035.
Go figure!
Fayemi took out a 25bn bond with no trace as to what he used it for
Here is a video for you
https://www.youtube.com/watch?v=SoSnJooJbCY The Nigerian Stock Exchange approved the listing of Ekiti state 20 Billion Fixed Rate Infrastructural Development bond 2018 under the State N25billion Debt Issuance Programme on 13th March this year. The bond is for industrial and infrastructural development of Ekiti State.
THis happens to be just the second bond that Fayemi sought.
This is apart from numerous bank loans.
Fayemi owed workers well over 7-9mths salaries.
Guy Fayemi never at any point owed anyone 7 months salary sir. Please stop lying ooooo.
Did he get up to the 25 billion? And did you forget that there was a loan payback plan?
Are you so used to lying or you just dont know the truth?
Fayemi had exhausted all Bank avenues in borrowing had to resort to the stock market to issue 25billion naira bonds.
[/b]The total debt portfolio as at the time Fayose came on board was put at between 70-80bn and that did not include salaries of civil servants.[b]
The estimated liquidation date for bank loans alone was 2035!
Fayemi indebted Ekiti for 25yrs just on bank loans as he took the majority of the loans in 2011-2012 when he just came on board and we all knew the loan was meant to settle Tinubu for bankrolling his gubernatorial ambition.
Same thing happened in Osun.
Or have you wondered why Buhari gave out two bailouts to Osun despite the fact that Osun's initial bailout in early 2016 at 40bn was 4 times more than the second largest state recipient (Kano) at 10bn?
What civil servants? Fayemi owed just one month salary
First you denied that Fayemi did not leave a debt burden of 80bn and claimed it was only 20bn.
I then posted not only an article but also a video that showed Fayemi signing Ekiti into bond slavery for 25bn and this was in 2012!
This is despite the huge amount of loans he collected with nothing to show for.
Now in typical BMC style you ae trying to change the argument that Fayemi only owed one month salaries.
Sometimes I wonder the amount of financial inducement that will make the owner of this forum hand over his site to BMC.
Seun, i truly hope it was worth it
Here are your lies laid bare. You want to see who imporiverish Ekiti state, here are facts from the Debt Management office.
The Debt Management Office (DMO) has come out with the debt profile of Ekiti State within the three years of Governor Ayo Fayose in power.
According to DMO, Fayose has borrowed a total sum of N56 billion since coming to power on October 16, 2014.
In its latest bulletin released at the weekend, the DMO disclosed that the Fayose administration still had a fresh application of N25 billion in 2017 awaiting consideration.
The publication did not state how the funds were expended but they were believed to have been channeled to capital projects and payment of arrears of workers’ salaries.
Some of the capital projects being executed by the Fayose government include the Ado-Ekiti overhead bridge, new Governor’s Office, new High Court complex, among others.
The DMO disclosed the sources of fresh debts incurred by the Fayose regime to include summary of new loans, foreign loans and local bank loans.
The publication which is also available on the DMO website gave a breakdown of loan transactions between October 16, 2014 and December 2016.
This excludes the N25 billion request for 2017 which was yet to be granted.
According to the document, the Fayose government renegotiated all outstanding loans as at December 31, 2014 for 20 years (till 2036) on behalf of Ekiti State in 2015.
For 2015 Ekiti State borrowed loans include new loans of N24, 811, 574, 926.00; foreign loans stood at N2,709,786,898.98 while local bank loans was N22,101,788,065.28.
In 2016, the summary of new loans was N31, 688, 638, 962.30 with foreign loans standing at N2, 705, 737, 050. 37 while local bank loans rose to N28, 982, 901, 911.93.
The summary of total loans in two years, that is, between January 2015 and December 2016 is N56, 500, 213, 924.56.
The summary of foreign loans is N5, 415, 523, 947.35 while summary of total bank loans incurred by the Fayose administration is N51, 084, 689, 977.21.
The report did not state when the N25 billion applied for by the government in 2017 would be accessed.
The issue of indebtedness has elicited allegations and counter-allegations between the Fayose administration and the immediate past administration led by former Governor Kayode Fayemi.
Fayose has consistently accused Fayemi of plunging the state into debt that outlives his administration.
The issue of alleged indebtedness by Fayemi was the major reason why Fayose set up a Judicial Panel of Inquiry to probe the former administration with the panel submitting its report last week.
The governor had first put the debt allegedly incurred by Fayose at N45 billion before later coming out with another figure of N85 billion to be exited in 2036.
But the DMO cleared the air in one of its earlier bulletins and put the debt left by Fayemi at N18 billion.
Do your self some good and download the 2014 report and see for yourself how much Ekiti state was owing and how much they were servicing debt owed banks
post=69478940: Back to the head and blokos of the sender....... Has always filled with bitterness, gloom and hatred all his life. Their usual trademarks.
Sir, it will be better to stick to the truth and not pass lies around.
Fayemi did not leave a 70b loan and neither did he leave a backlog of 7 months.
Fayemi left a 20b billion load and was owing just 2 months (one month arrears and the other month because the month had not ended when he handed over)
Thanks and God bless you. No be small job una dey do here o! With some appaling and damaging posts here everyday, only the strong can survive it. Keep up the good work.
Fayemi drained Ekiti dry with bad loans that he can't even account for.
Fayose inherited a debt of well over 70bn naira from Fayemi and that is only bank loans. Fayemi left a backlog of well over 8mths unpaid salaries which Fayose had to clear.
Or did Fayemi not owe works months on end salaries?
Or have you forgotten the lie you afonjas where using to excuse your states indebtedness as due to "GEJ stealing our oil money"?
All your useless satanic worshiping ritual serial killers parading as governors used to claim that the reason they couldn't pay salaries was because GEJ cut their allocations. Or are you going to deny that as well?
I will rather live in a country with the most radicalized ab0ki than to share the same continents with you children of perdition from the waste land.
Lol Fayemi left backlog of 8 months ? Google is your friend try check ... Even Fayose as loud as he is never for once said or mention anywhere Fayemi leaving a backlog of 8 months unpaid salaries neither did he mention anything about a 70billion naira debt...
Fayemi drained Ekiti dry with bad loans that he can't even account for.
Fayose inherited a debt of well over 70bn naira from Fayemi and that is only bank loans. Fayemi left a backlog of well over 8mths unpaid salaries which Fayose had to clear.
Or did Fayemi not owe works months on end salaries?
Or have you forgotten the lie you afonjas where using to excuse your states indebtedness as due to "GEJ stealing our oil money"?
All your useless satanic worshiping ritual serial killers parading as governors used to claim that the reason they couldn't pay salaries was because GEJ cut their allocations. Or are you going to deny that as well?
I will rather live in a country with the most radicalized ab0ki than to share the same continents with you children of perdition from the waste land.
Haaaaa! With people like you Nigeria is finished. Who told you Fayemi owed civil servant 8months salary? 70billion naira debt? . Anyway to set the record straight Fayemi only owed civil servant 1month salary before he left.
post=69479092: See who is talking about hate, bitterness, jealousy and envy! So funny. We are tired of all these back and forth arguement with people like you. We have learnt to IGNORE big time. We only reply reasonable and sensible comments not war-like mentions. So, do have a nice day Mr Man. God bless you and yours.
Modify Oh, you are still here waiting for our reply in like terms like yours?! We are glad we disappoint you. You can put your weapon back. BYE.
Don't worry the only people that think of you as significant will soon dump you the way they dumped fayose after the election when your predictions fail you
seunlayi: Very true, that is their way but only if our judiciary failed to help redress the issue raised by the election. I can see fayemi loosing in court, I trust pmb, he won't interfere in petition otherwise, Nigerians will believe that 2019 election is already decided.
..which judiciary are u hoping the one that APC has instilled fear upon by arresting their judges den replacing with their choice judges..? ur really funny..u don't know APC
Fayemi drained Ekiti dry with bad loans that he can't even account for.
Fayose inherited a debt of well over 70bn naira from Fayemi and that is only bank loans. Fayemi left a backlog of well over 8mths unpaid salaries which Fayose had to clear.
Or did Fayemi not owe works months on end salaries?
Or have you forgotten the lie you afonjas where using to excuse your states indebtedness as due to "GEJ stealing our oil money"?
All your useless satanic worshiping ritual serial killers parading as governors used to claim that the reason they couldn't pay salaries was because GEJ cut their allocations. Or are you going to deny that as well?
I will rather live in a country with the most radicalized ab0ki than to share the same continents with you children of perdition from the waste land.
JUSTICETHEO: One re-occuring decimal about APC stooge puppets in the south and middle-belt is how they are ever ready to sacrifice their people for political relevance and acceptance to Sokoto.
Roachas is already working on a ranch/colony bill in Imo which will see Imo land being partitioned to make way for Fulani settlers.
Fayemi had indicated during the primaries that he will definitely roll out a colony for his fulani masters.
Aregbesola through the Amir Akanbi of Iwo has declared his interest for cattle colonies in Osun
Bello (the Ebira slave) has already set aside 15,000 hectares of Kogi land for Fulani settlements
Next to follow are closet APC stooges like Ayade of Cross-river and Umahi of Ebonyi. While Umahi is openly denying such move, he is secretly working towards it in the background. The Obudu man in Calabar has already concluded survey work for a Fulani settlement in both central and northern Cross-River.
Obaseki of Edo is doing same in Edo while Ajimobi and Amosun of Oyo and Ogun have already given their consent to Buhari to settle Fulanis anywhere he deems fit in their respective states.
Akerelodu of Ondo is pushing the Hegelian Dialectic argument of setting up Fulani colonies in his state as a precursor in stemming the criminality and terrorism committed by Fulanis on hapless Ondo citizens.
These fools are not interested in safe guarding or protecting their state from Fulani invasion and occupation but rather their relationship with Buhari.
Have you ever wondered why no single core Northern governor has deemed it fit to either revive the grazing routes or setup cattle colonies in the north? IN-B4 Kano govt has offered a large swath of land for ranching. Has the same Kano govt made any concerted efforts in seeing that Fulanis settle in it's proposed cattle colony? The answer is NO of course! But here you have the worst of the worst trying to sell not only their ancestral land and peoples but their heritage for sake of political relevance and acceptance.
Reminds me of how the north patted Amaechi in the back for shutting down the maritime university in Delta and how they then described him as their friend.
The only way the parasitic northern leaches will ever accept any of you clowns is when you betray your own self.
EXCELLENT write-up, painstakingly outlined facts, and deep though sad/pathetically unfortunate curse of the South.
PERMIT me Sir, to share this article of Urs on WhatsApp
The greatest losers are you who continue to vote this satanic govt.
You can cut your nose to spite your face that is none of my business but what you should understand is that you should not shove your enslavement to Sokoto to us in the better south. You can celebrate your chains as jewelry but never ever in your pathetic negriod existence should you demand we admire them.
Why don't you just show me what your region gained from 16 years of aimless allegiance to PDPPIGS.
