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How ex-Gov Fayemi looted over N40 billion Ekiti funds


Ekiti Assembly petitioned EFCC calling for prosecution of ex-governor of the State & Minister of Solid Minerals, Kayode Fayemi for looting over N40b

Ekiti State legislators startled Nigerians, on Thursday, with disquieting revelations over how a former governor of the state, who is presently the Minister of Solid Minerals, Dr. Kayode Fayemi, looted over N40 billion from the state coffers.

The lawmakers disclosed this in a petition personally delivered to the Economic and Financial Crimes Commission (EFCC).

The petition was titled; “Complaint of fraudulent practices against former Ekiti State governor and Minister of Solid Minerals, Dr. Kayode Fayemi & others: Call for investigation & prosecution.”

It was submitted by the trio of the Deputy Speaker, Hon Segun Adewumi, Chairman House Committee on Information, Dr. Samuel Omotoso and Hon Sina Animasaun.

Amidst the details of the petition are:

– writing numerous fraudulent contracts for major construction projects, 

– mismanaging a N25 billion bond and N5 billion commercial bank loan, 

– diverting N853 billion away from the State Universal Basic Education Board, and,

– fraudulently purchasing 156 Ford vehicles.

The lawmakers, providing more detailed expose, disclosed that the petition bordered on 10 major issues, namely:

i. Construction of new civic centre: Hiding under the cloak of construction of the New Civic Centre Dr. Fayemi embezzled the whopping sum of N2, 573,584,395.

ii. Construction of new governor’s office: The New Governor’s Office was proposed to be constructed with N3, 474,700.000 earmarked for the project.

However, despite that N115, 170,273.32 was paid to the contractors for earthwork, the site was abandoned, with no significant work done.

iii. Contract for the construction of the New Governor’s Office was awarded to Messrs Interkel Nig. Ltd on March 1, 2014. 

The contract sum was N2, 027,495,857. Out of the 30% mobilisation fee of N608, 248,757.24, a sum of N100 million was paid to the contractor with nothing to show.

iv. Mismanagement of the N25 billion bond and N5 billion commercial bank loan: N25 billion was sourced from the capital market to finance capital projects which was obtained in two tranches of N20 and N5 billion respectively.

As at today, there is no single evidence of utilisation of the N5 billion, suggesting that the loan was taken to fund Fayemi’s botched re-election bid.

The Bond Prospectus, which was approved by the House of Assembly was not adhered to as the money was diverted.

For instance, N1 billion was earmarked for the construction of Civic Centre whereas N1, 465,401,522.72 was spent on the project from the bond, with project left uncompleted.

Also, the State Pavilion to which N1, 583,292,358.00 was earmarked and total sum of N1, 457,945,445.44 was paid to the contractor was left uncompleted.

v. Construction of new government house: Contract for the construction of a new government house was awarded in 2012 at N2, 054,573,822.00.

However, another N730 million contract was awarded to same company in 2014, FIVE days to the end of Fayemi’s tenure

“For a contract awarded on July 27th, 2012, why wait till October 10th, 2014, five days to the end of the government to realise that there were omissions on the original Bill of Quantities prepared for the project?” the lawmakers asked.

Also, another N604, 961,645.72 contract was awarded to KITWOOD Nigeria Limited on June 18th, 2014, THREE days to the June 21, 2014 governorship election.

Worse yet, the contractor was asked to report at the office of Fayemi’s Chief of Staff, Yemi Adaramodu to sign contractual agreement and to obtain detailed specifications of the items to be procured, leaving the State Ministry of Works wallowing in wonderment.

vi. Diversion of State Universal Basic Education Board (SUBEB) N852.9 million: N852.9 million was allegedly illegally withdrawn from SUBEB Access Bank Account eight days to the end of Fayemi’s tenure.

Even UBEC Deputy Executive Secretary, Dr. Yakubu Gambo told the Senate Committee on Finance’s Budget Defence that Fayemi used the N852.9 million counterpart funds dedicated for education for other purposes.

The legislators also cited fraudulent purchase of 156 units of Ford vehicles from Coscharis Motors, inflation of road contracts, among other atrocities committed by Fayemi against the state.

Other people mentioned in the petition are Mr Dapo Kolawole, Mr Yemi Adaramodu, Mr Abiodun Oyebanji, Arc Oyelade (CASA Nig Ltd) and Mr Bayo Kelekun.

Hon Animasaun said the State House of Assembly could no longer ignore “the monumental looting of the State treasury perpetrated by immediate past APC government of Fayemi.”

It could, however, be recalled that EFCC have claimed that the commission does not have any complaint against Fayemi and his ilks which is a deliberate lie.

This prompted them “to submit this petition openly so that Nigerians and indeed, the entire world will be able to follow it up and ask questions from the EFCC as to what has happened to it.”

Ekiti House of Assembly, therefore, request for the investigation of the following allegations of fraudulent practices against the former Ekiti Governor and others.

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