Stop your comedy of errors, pursue substance – Fayemi tells Fayose

The immediate past Governor of Ekiti State, Kayode Fayemi, has blasted his successor, Ayo Fayose, over his claim that the financial situation of the government he inherited is dismal.

Mr. Fayose had before his inauguration put the state’s debt profile at N89billion. In his inaugural speech, he readjusted the figure to N57billion.

He also claimed that none of the state’s agencies has up to a million naira in its account.

Mr. Fayemi has now responded to the claims, saying the state is only indebted to the tune of a little over N36billion.

He also punctured other claims by his successor and described Mr. Fayose’s allegations against his administration as mischievous, spurious, and irresponsible.

“It is our belief that Mr Fayose was hasty in making a pronouncement on the state of the state’s finances and other matters without first going through the handing over note which contains explicit details of government transactions and financial situation. Nothing can be more mischievous and irresponsible than this,” Mr. Fayemi said through a statement by his Chief Press Secretary, Olayinka Oyebode.

“The concern here is the general public that could be misled by the fraudulent claims and deliberate distortions of facts and figures in an attempt to invent excuses for imminent poor performance in office.

“It would appear, however, that the new governor is ill prepared for the job at hand. His hasty approach to governance without paying due cognisance to decorum and tact would succeed only in exposing his incapability and further ridiculing the state.

“Our advice to him: Stop this comedy of errors. Pursue substance!”

Read Mr. Fayemi’s full statement below.

PRESS RELEASE
Governor Fayose’s wild allegations: The Need to set the record straight

The media was awash last Friday with allegations of financial recklessness and huge indebtedness by the immediate past government of Dr Kayode Fayemi, levelled by the newly inaugurated Governor of Ekiti State, Mr Ayodele Fayose.

Governor Fayose had in his inaugural speech put the state’s debt profile at N57billion. A day earlier, he had put the figure at N89billion during a television interview. This is in addition to the various unprintable words he used to describe the immediate past administration in the state, all in an attempt to paint a dismally poor state of finance for the state.

Although the erstwhile Commissioner for Information, Mr Tayo Ekundayo has responded to the puerile allegations and orchestrated lies, it has become necessary to provide additional details to that earlier reaction.

The concern here is the general public that could be misled by the fraudulent claims and deliberate distortions of facts and figures in an attempt to invent excuses for imminent poor performance in office.

For the avoidance of doubt, the indebtedness of the state as at October 15th, 2014 is N36,316,017,758.93 (Thirty six billion, three hundred and sixteen million, seventeen thousand , seven hundred and fifty six naira, ninety-three kobo). Of this amount, the sum of N7,830,636,440.62 (Seven billion, eight hundred and thirty million, six hundred and thirty-six thousand, four hundred and forty naira, sixty-two kobo) represents foreign loans incurred by previous government since the days of the Old Ondo State.

The remaining sum of N28, 485,381,316.31 represents internal loan. This include inherited loans from previous government and outstanding balance (debt) of the bond taken at the Capital Market.

In spite of this, the Federal Government is owing the state the sum of N17,710,728,299.06. This include N10,839,493,135.63 (amount due from construction of federal roads); N4,012,384,082.60 (refund on Paris Club) and N2,858,851,080.83 (amount due on ecological projects).If the Federal Government would graciously effect part of this payment, the debt profile of the state would have been greatly reduced.

It is our belief that Mr Fayose was hasty in making a pronouncement on the state of the state’s finances and other matters without first going through the handing over note which contains explicit details of government transactions and financial situation. Nothing can be more mischievous and irresponsible than this.

While Mr Fayose alleged that the state account was in red, the state bank balances as at October 15th stood at N1,930,739,725.84. This comprised N1,463,805,908.56 (state account) and N466,933,817.28 (local government account). Also the Bond Sinking Fund Account balance as at September stood at N3,019,987,424.03.

Nothing could be farther from the truth than Mr. Fayose’s allegation that none of the MDA’s account had up to One million naira. For instance, the Ministry of Agriculture’s account is in the excess of N90million, while the MDG account has close to One billion naira.

There is no responsible leader in Nigeria today that will not acknowledge the poor state of the country’s economy, a development that has made it difficult for the Federal Government to meet its obligations to the federating states. In the last two years, states on many occasions have had to leave the monthly FAAC meetings empty handed, like they did last week. This is in addition to a huge reduction in the amount given to the states.

In Ekiti State for instance, the federal allocation to the state has dropped by about N480million monthly since the beginning of the year and this has placed a huge strain on government finances. The government has had to resort to bank facilities in order to augment the now insufficient allocation and pay workers salaries as well as meet other obligations.

As a government that is committed to the welfare of the citizens, the Fayemi –led administration had in 2011 approached the Capital Market where it raised a N25billion bond which it spent on infrastructure projects which are regenerative in nature. Of the sum, about N14 billion has been repaid through the laid down repayment regime. The outstanding balance of the bond money forms part of the N28billion debt profile according to the state’s audited accounts which was published in some national newspapers last week.

It is also pertinent to state that the governor’s claims that the former administration owed two months salaries is dubious. The only salary being owed the state workers is that of September and the development was sequel to the reluctance of banks to give the state facilities following sundry allegations of collaboration levelled against the banks by Fayose.

In all this, the Debt Management Office (DMO), a Federal Government agency, still rates Ekiti State as one of the least indebted states in the country.

It would appear, however, that the new governor is ill prepared for the job at hand. His hasty approach to governance without paying due cognisance to decorum and tact would succeed only in exposing his incapability and further ridiculing the state.

Our advice to him: Stop this comedy of errors. Pursue substance!

Signed:
Olayinka Oyebode
Chief Press Secretary to Ex-Governor Kayode Fayemi


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  • Olalere Yusuf

    Governor Fayose should just go ahead to govern the state. Government is continuity. He was aware of the challenges before he decided to contest. Debt profile of an earlier administration should not be an excuse for failure of a new administration. If he has genuine cases of financial misdeed by the earlier administration he should contact appropriate anti-graft agencies for redress, otherwise he should just face the task of governance. Political campaign ended the day he won the election, responsibility starts the day he was sworn in

  • newvoice404

    Fayose is an unmitigate Agbero that is poised to rip off Ekiti state,hence his inordinate cry of wolf where there is none,so as to start his nefarious thieving activities.I dey laugh o

  • Okey

    Fayemi said “While Mr Fayose alleged that the state account was in red, the state bank balances as at October 15th stood at N1,930,739,725.84. This comprised N1,463,805,908.56 (state account) and N466,933,817.28 (local government account). Also the Bond Sinking Fund Account balance as at September stood at N3,019,987,424.03” Then, he added a sinking fund and N90 elsewhere.

    Taking the state of Ekiti State finances and balance, after 4 “odd” years of “service,” by Fayemi’s own account as presented here, I have no better words to use than that the state was vandalized by a locust group led by Fayemi. For it is obvious that, God forbid, if one single case of Ebola drops in Ekiti State now, there will be no finances to tackle the challenge. How will government and governance become a continuity in this circumstance ?

    • endingNaija

      Okey na Mani_kay na mpitikwleu na EWendel na Reno Omokri- did you go to school at all? Any education? Just asking you because your post does not display any form of knowledge of the facts in the news item and press release. Did you go to school? I have to be blunt with you.

      • Okey

        No, I did not go to school, sir. And I am very sorry that I didn’t. But even with my illiteracy, my quest and position is that we should never “end Naija.” Please, adopt a different name and a different mentality, so that we will not all be swallowed by a pool of illiteracy and the blindness that follows it.

        • endingNaija

          Okay so you did not go to school- yu are another another judge beating illiterate like Fayose and the drug dealer, PDP South West leader Kashamu Buruji-hm? . And you want me to converse with you on this? Forget it. Go and eat your staomach infrastructure-at least you people now have a commissioner for Stomach Infrastructure under the thuggish administration like Fayose.

    • Contact Point

      nut, dumbest brain in dispaly

  • Johnny

    May God give Gov Fayose wisdom to gorven the state to greater glory.

  • F. Bada

    This is not a matter for verbal debate. Financial crimes are subject of Inquiry.
    Governor Ayo Fayose should do the needful and set up a forensic probe panel.
    The result of it will be deliberated upon by the state executive council for adoption.
    Thereafter, assets-recovery, forfeitures and criminal prosecutions shall follow in court.

    • Contact Point

      P.A to Fayose. You ppl cant stop ranting and as you said, do the needful. Must Fayose be a judge to his own case? Of course EFCC is an independent body, which even Fayose still has an outstanding case with, so they should be invited to look into the books of Ekiti than playing to the gallery like a small boy with a new toy

  • Contact Point

    Part of the debt profile was incurred by Fayose during his first term and he knew it. He plundered the finance of Ekiti State when he was using the taxpayers money fighting his impeachment. So he should shut up until after his case with EFCC even if it takes 5 years from now when he must have been striped naked off immunity coverage. Definitely Fayose MUST cool his nerves in prison for a period of time after his tenure, that is if the election tribunal did not sack this agbero and call for a new election with another person as PDPig candidate.

  • Genusa

    Dear Olelakan Waheed Adigun, you are a very poor political analyst, and I will advise you go back to school. How can you be an analyst when you don’t even know the chronological order events happened in your country? According to your paragraph 13, your posture was that Ali Ndume’s bokoharam link case wasn’t heard of again because he joined the PDP. Olelakan, you didn’t even know when Ndume joined PDP and when he was named as Bokoharam sponsor. Ndume was already a PDP member for a year before an arrested Bokoharam member mentioned his name. My “political analyst”, Ndume left ANPP to join PDP in December 2010, about three months to the 2011 national assembly election, due to his perceived injustice against him in ANPP. Ndume was appointed as member of the committee Jonathan established to open talks with Bokoharam. It was in November, 2011(more than a year after he joined PDP and won election) that Ndume’s name was mentioned as having connection with Bokoharam. You see Olalekan, there are so many flaws in this analysis you posted and it is even glaring were you intend to point your accusing fingers. I will advise you study a little bit more then come up with another piece. Be well.

  • Genusa

    Olekan, I have stopped seeing Bokoharam as a political thing. There was a time I was like you, and thought Bokoharam could be either a PDP or an APC making. But it is neither. My position that Bokoharam cannot possibly be political is made clearer now that PDP is no more in power and APC has taken over. I am seriously beginning to link Bokoharam with the oil prospects in Borno state. There is a good amount of oil deposits in the Chad basin. The Chad basin covers Niger, Chad, and the Borno part of Nigeria. Niger and Chad are already exploring oil in their own section of the Chad basin. This implies that Nigeria has oil too in their own section. You will recall that our NNPC have spent billions of dollars to start off oil exploration in Borno section of the Chad basin, but those efforts are frustrated by the activities of the bokoharam in the place. This is what I think Bokoharam is all about. To frustrate Nigeria from exploring the oil in Borno state, even as NNPC already knows there is oil there. There was a time I took a look at the towns that were captured by Bokoharam in Borno. When you considered the map of Borno state, most of those towns captured by Bokoharam are very near the lake chad. The oil in Borno state is around the Lake Chad. Bokoharam shows not as much interest in capturing towns further up Borno state. Bokoharam activities appears to be protecting the area in Borno state were the oil is. Who are those behind it? Who is benefiting from this? Due to the geographical nature of the Chad Basin that covers the three countries(Chad, Nigeria and Niger), you can possibly drill Nigeria’s oil in Borno state from Chad using the horizontal method of drilling. I read that Ali Modu Sheriff has a huge business interest in Chad. What is the business? I read that there is a US company that was given license in 2011 to explore oil in Chad, and since 2011 the US haven’t shown any much interest in Nigeria’s oil, even as they claim they discovered the shale oil. Is there another reason Chad and US haven’t shown much support in fighting Bokoharam? Is it for any economic benefits of Bokoharam occupation of the prospective oil towns in Borno state? Many questions, but who can help us with the answers.

  • BADE

    The issue in question is about how people now look at Boko Haram under Buhari. I don’t know how people can be so naive about tackling terror.