EKITI State governor-elect, Mr Ayo Fayose, has cried out against moves by the outgoing government to secure a fresh N1 billion loan from First City Monument Bank barely four days to the end of its tenure.

In a letter with reference number OGE/EK/ADM/ 094 dated October 10, 2014 and signed by the Chairman, Ekiti State Transition Committee, Chief Dipo Anisulowo, to the Managing Director, FCMB in Lagos, the Fayose team said it had it on good authority that the new loan was been sourced to pay the severance allowances of public office holders.

This is just as the committee also raised the alarm over illegal transfer of over N856 million from SUBEB project account number 0065385894 with Access Bank Plc to another illegal account.

The said money, it alleged, was the state’s counterpart contributions to the Federal Government Intervention Funds.

“Please be informed that going by UBEC financial regulations, it is absolutely unethical to transfer any part of the fund that is available for SUBEB/UBEC project execution in the state without valid instruction.

“This move will definitely wane down the reputation of the state as one of the most performing states in the federation,” the letter with reference number EKSUBEB/PS/400/41 read.

The committee noted that granting loans to an administration which has less than four days to wind down was suspicious.

“Our greatest concern regarding this transaction is that it would be deducted as first line deductions from October 2014 allocations when the incoming administration would have taken over the reins of governance in the state.

“If, however, the first line deduction would not be practicable, the governor-elect, who as a critical stakeholder in the finances of the state as at the period the loan was being negotiated, and who was not part of the deal, would be expected to pay back the loan facility consonant with the agreement signed with the state government,” the letter further read.

The committee stressed that if the appeal to the bank not to grant the loan was not heeded, the incoming government would not honour the deal.

“Besides, we shall not hesitate to explore all administrative and legal means and processes to deal appropriately with the conduct of your bank in this regard,” the committee warned.

Reacting to the development, the state Commissioner for Information, Mr Tayo Ekundayo, dismissed the allegations, saying it was one of the lies of the PDP to confuse the people.

“I was not in any meeting where such a decision was taken to borrow any money to pay severance allowances of public office holders. It is one of the lies they are telling to confuse the people.

“If we could not take loan to pay salary which is statutory, how can we take loan to pay severance allowances?” he said.

http://www.tribune.com.ng/news/news-headlines/item/18600-fayemi-seeking-n1bn-loan-transfer-of-n856m-fayose-it-s-one-of-their-lies-to-confuse-people-govt

Nigga should shut up and get in first

If you think the devil is a thief,try Nigeria politicians,then you will realized that the devil is a learner.

Nigeria politician,depriving the people since 1960.

Fayose is prepping the ground already.
The first 1 billion naira which he will steal while blaming it on the Fayemi.
Fayemi must make sure that the state's books are made up to date and published.
All liabilities and assets should be made public before this clown get in.
This in order to prevent him from using the ensuing confusion from power transfer to rob the state blind ,just like a certain otuoke clown.

Fayemi and his team are thieves. The secrete life style of some of his aides points to the fact that this allegation could be true. E.g His chief of staff, Adaramodu who could hardly feed himself and family prior to 2010 now can now afford to relocate most of his children abroad. He has houses and businesses everywhere, his old house in Challenge, Ibadan (which he built with stolen money when he was LGA chairman) has now been renovated to high taste with Ekiti money. The almighty God will expose them all.

Adaramodu and members of his family oppressed freely in Ilawe. They broke many homes by having affairs with even married women using our money. I am sure many of the Adaramodus such as Ayo, Femi, Rotimi, Dele, Tope, Biodun, Yemi, Bukky etc will be jobless after Fayemi's tenure.

I am currently collating addresses & other details of Adaramodu and families ' investments , businesses and buildings which they used our money for. Ekiti!

Our common wealth enjoyed by few