Ekiti State Governor Ayo Fayose has said he is not afraid of being probed by the incoming administration on the management of state treasury after his exit from power.
Fayose disputed the claim of the Transition Committee set up by the governor-elect, Dr. Kayode Fayemi, that latest record from the Debt Management Office (DMO) shows that Ekiti debt under his watch has ballooned to N117 billion.

The panel made the revelation on Friday while turning in its report to the governor-elect.
Fayose contended that Fayemi is laying foundation for “an impending failure” with the excuses of the alleged N117 billion which he described as a ruse to hoodwink Ekiti people.
In a statement on Sunday by his media aide, Lere Olayinka, Fayose wondered why Fayemi could not avail himself of the opportunity to clear himself of the way and manner he handled the state treasury before the Judicial Commission of Inquiry which probed his administration.

The outgoing governor claimed that he did not commit the State to any financial institution in form of bonds and commercial loans.
According to him, “no loan can be granted without the approval of the DMO and the Federal Ministry of Finance throwing a challenge to the two institutions ti publish details of any loan taken by his administration, including the banks that granted such loans.”
Fayose said: “Unlike him (Fayemi) who was not courageous enough to answer questions on his administration before a duly constituted probe panel, Governor Fayose is not afraid of being probed either by the State or Federal
Government.”

“Ekiti State indebtedness stands at N59.5 billion that was either directly inherited from the Fayemi’s administration or incurred as a result of the loans restructuring done at the instance of the federal government and the Federal Economic Council.”
He gave the breakdown as follows; Commercial Bank Loan, N2,087,788,065.28; CBN Grant for Water Project, N163,450,000; Excess Crude Account Backed Loan, N9,545,173,472.78; Bailout, N9,083,761,215.40; FGN Bonds, N18,226,699,707.18; State Bonds, N3,484,469,345.51 and Budget Support, N16,869,000,000.

He added: “Particularly, the N10 billion grant released from the Excess Crude Account for capital projects was fund that should normally accrue to all States.

“Most importantly, we admit that the State workers are being owed four months’ salary and this was occasioned by the monthly deductions from the State allocation as a result of huge debt incurred by the Fayemi administration. Even the N9.5 billion bailout fund was for the payment of the arrears of salaries and deduction left unpaid by the Fayemi’s government.”

Fayose accused the federal government of deliberately refusing to release legitimate funds belonging to Ekiti State to his government.

He alleged that N22.6 billion refund on federal roads construction, N2.1 billion arrears of Budget Support and N14.1 billion Paris Club refund, making N38.8 billion, which should have been paid to the State since June is billed to be released in November to Fayemi’s government.

He admonished Fayemi to use the N38.8 billion to clear the arrears of workers salary, which would have been paid by now if the federal government had released the fund, on the basis of which Governor Fayose promised to clear arrears of workers salary before leaving office.

Source >>> http://gistmore.com/alleged-n117bn-debt-im-not-afraid-probe-says-fayose

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I’m still wondering what states do with so much allocations from the federal government each time cos I barely see any progress on these states

I trust u, Peter d Rock. sha just don't run away.

Fayose will most likely have some time with the EFCC after he leaves office

Our Governor in severe pain again...

This guy is planning to run away

Let's see if you will still be in this country a week before the inauguration of the new state administrator as the usual practice of thieves like you. How come there are no credible leaders again in this country just a set of looters all around. Even the so called fayemi coming in is in no way better off. They are all rogues and thieves. I heard some stuffs about fayemi as regards ajaokuta recently and it made me give up for this country.

Efcc is patiently waiting for Fayose. I just hope the mouth he is making now he will still be able to make when in few months from now facts are presently to him by the crime watchdogs.

I see no lies in Fayose's explanation despite not being an accountant. Truth speaks for itself.

You better defect to APC now that the transfer window is still very free o...Learn from your mate in looting AKPABIO.

He explained with facts.. can APC who ran to the media that Ekiti state has a debt profile of 113B give us some facets?

Fayose u better pray Buhari loses this election oh! If not you will see hell on earth.

And the fight continues while the people/ masses are d losers. the truth can never be said yet they keep pretending they love d masses. Lola

Ayo the noise maker

he made a mistake, what I hate most in governance is not paying workers salary
the only mistake omoluabi made

The fact speaks for itself , the whole truth and nothing but the truth is on Debt management office's site. Please no argument. 117 billion is the real figure.

Fayose is such an empty vessel. This man spent his entire time as governor chasing Buhari around.

So ashamed of him.

Nigeria, mortgaging the future of generations yet unborn, when will this stop? Even Fayose sef

Fayose & Fayemi are both charlatans & manipulative liars.


as at June 2014, Ekiti's debt profile was about N46b & not N15b as is often claimed by fayemi or the N60b+ touted by fayose...



as at June 2018, the debt profile was about N95b not N117b as bandied about by fayemi but is certainly is far worse than he left it...

both fayemi & fayose are thieves... one spends on so called social welfare schemes (which is the real stomach infrastructure despite their attempts to call it otherwise) for which funds can't be easily traced & the other spent on needless projects from which he can gain from contract inflation...

Na so e go dey sharp mouth Now



After Wertin we go hear be say "am in pain ,ayaf suffer " yeye dey smell

,,,,and when the EFCC shaking him now he complains, moan witch hunting but deep down, he mismanaged d state. I know diehard fans of Fayose will blindly support him shouting witch hunt too.These people are not 4d masses but themselves and family only.

Na so ...handover day e go don take off out of the country like others do

FlirtyGist:


Source >>> http://gistmore.com/alleged-n117bn-debt-im-not-afraid-probe-says-fayose

gigabyte13:
Na so e go dey sharp mouth Now




After Wertin we go hear be say "am in pain ,ayaf suffer " yeye dey smell

Nothing go sup jare

Hahahahaha... Kirikiri is waiting for you sir... A political sycophantic sycophant like you have got no hiding place..... God bless PMB

117 billion naira without any tangible project and you said you are not afraid.

Fayose is the worst thing to have ever happened to Ekiti State.

Story story story let fayemi go to hell. Their is no single state without debt in fact apc states are the worst so let fayemi go and sit somewhere.

Another way to start underperformance propaganda. The way apc lies baffles me a lot seen fathers and grandfathers still lying everyday hhhmmmm God have mercy pls.

Story story story let fayemi go to hell. Their is no single state without debt in fact apc states are the worst so let fayemi go and sit somewhere.

Another way to start underperformance propaganda. The way apc lies baffles me a lot seen fathers and grandfathers still lying everyday hhhmmmm God have mercy

pls it's Monday morning I beg you all we can't start today with your lies or else......................