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Stop Lying Says Fayose To Fayemi Of Ekiti

Fayose described the claim by Governor Kayode Fayemi that Ekiti State was indebted to the tune of N170 billion as false. In a statement, Fayose’s Media Aide, Lere Olayinka, said that Ekiti State indebtedness was under N60 billion and that the debt was either directly incurred during Fayemi’s first tenure or as a result of the loans restructuring done at the instance of the Federal Government and the Federal Economic Council, FEC. Gov.-elect, Fayemi visits Sen. Omisore He gave the breakdown as follows: Commercial Bank Loan, N2,08 billion; CBN Grant for Water Project, N163.45 million; Excess Crude Account Backed Loan, N9.5 billion; Bailout, N9.08 billion; FGN Bonds, N18.22 billion; State Bonds, N3.48 billion and Budget Support, N16.86 billion. While challenging Fayemi to name the banks being owed the N170 billion and monthly repayment by the State Government to such banks, Olayinka said: “He should rather tell Nigerians how it is possible for a State that is indebted to the tune of N170 billion to be making N1.1 billion repayment monthly. “Fayemi should publish the Debt Management Office, DMO, Ekiti State Executive Council and House of Assembly approvals for the loans since no loan can be taken without these approvals.”

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