Judicial Commission of Inquiry in Ekiti: Witness Contradicts Fayose’s Claims on Ekiti Debt Profile

A witness, Kehinde Odunayo Victor, who testified before Judicial Commission of Inquiry set up by the Ekiti State Governor, Ayo Fayose, to probe the government of his predecessor, has contradicted the Governor on the amount of debt said to have been left behind by government of Fayemi Kayode.
Victor revealed on Monday that the total amount of debt left behind by the administration of former Ekiti State Governor Fayemi was N49bn and not N89bn as claimed by Fayose.
The Judicial Commission of Inquiry is probing the handling of the state’s finances between October 2010 and October 2014 when Fayemi was in power.
Kehinde, told the Justice Silas Oyewole-led panel that out of the N49bn debt, N25bn was taken as bond from the Capital Market while N24bn was taken as loans from ten commercial banks.
The witness, who works in the Funds Management Department in the Office of Accountant General, was led in evidence by counsel to the Commission, Sunday Bamise.
Kehinde who presented a document marked and admitted as Exhibit A13 told the seven-member panel that Fayemi had repaid N42, 691, 410, 210. 37 (N42.6bn) out of the debt before he left office on October 15, 2014.
According to Kehinde “as at the time Fayemi left office in 2014, that debt incurred from outstanding workers’ emoluments, comprising pensions, subventions to schools, among others was N13,819,928,727,92”.
According to Kehinde, total Deductions from FAAC allocations in the time under review under the last administration was N18,684,785,314,75 deducted in 48 months.
The Panel also heard that the former governor allegedly made N18bn unremitted deductions from the allocations received within the period in review.
Another witness, Arogndade Victor Adeyinka, who works at the state Ministry of Finance, tendered a document that indicated how the N25bn bond was expended.
The panel adjourned sitting till Tuesday.

Author: News Editor

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