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Ekiti Debt Profile Hits N120bn As Fayose Bows Out - Politics - Nairaland

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Ekiti Debt Profile Hits N120bn As Fayose Bows Out by Ecstasy154(m): 4:25pm On Oct 15, 2018
The debt profile of Ekiti state which was N117 billion at the beginning of the year has risen to N120 billion.

According to a document forwarded to the debt management office by the outgoing state government, the state incurred additional debt of N3 billion between March and June this year.

In September, Kayode Fayemi, governor-elect of Ekiti state, had raised an alarm over N99 billion debt incurred by the administration of Ayodele Fayose.

The DMO had said the debt profile of the state, going by available records then, had increased from N18 billion during Fayemi’s era to N117 billion, under Fayose’s watch.

But Fayose had denied the claim, saying the debt of Ekiti is pegged at N59.5 billion and that it was incurred by Fayemi’s government.

However, in the document forwarded to the DMO Office which was seen by TheCable, the state’s debt profile rose from N117 billion to N120 billion within three months.

The components of the debt, according to the document, shows commercial bank loans pegged at N2 billion, federal government and state bond of N18.2 billion and N3.5 billion respectively as well as budget support facility of N16.9 billion.

There are also a salary bail out of N9 billion, excess crude account of N9.5 billion, commercial agriculture loan of N163.4 million, contractors arrears of N2 billion pension and gratuity arrears of N22.2 billion.

Others are salary arrears of N8.3 billion and judgement debt of N95 million.

Fayose secured the approval of N10 billion supplementary budget from the state house of assembly, a month to his handover billed on October 16.

The Economic and Financial Crimes Commission (EFCC) has invited him to its head office in Abuja.

https://www.thecable.ng/ekiti-debt-profile-hits-n120bn-as-fayose-bows-out/amp
Re: Ekiti Debt Profile Hits N120bn As Fayose Bows Out by CodeTemplar: 4:32pm On Oct 15, 2018
This is serious. Our states are now fully dependent on the center instead of being totally free from the center. State now claim poorest and most backward as a strategy of attracting more funds.

18 Likes 1 Share

Re: Ekiti Debt Profile Hits N120bn As Fayose Bows Out by Shelumiel: 4:39pm On Oct 15, 2018
Only God knows the truth here

7 Likes

Re: Ekiti Debt Profile Hits N120bn As Fayose Bows Out by Kingosytex(m): 4:42pm On Oct 15, 2018
noted!! fayose should endeavour to crush the efcc
Re: Ekiti Debt Profile Hits N120bn As Fayose Bows Out by KRILMIJAY(m): 4:46pm On Oct 15, 2018
Ehyahhhhhh. No wonder he was crying grin

52 Likes 2 Shares

Re: Ekiti Debt Profile Hits N120bn As Fayose Bows Out by yomi962: 5:18pm On Oct 15, 2018
KRILMIJAY:
Ehyahhhhhh. No wonder he was crying grin
fayose the rock

3 Likes

Re: Ekiti Debt Profile Hits N120bn As Fayose Bows Out by Maket: 5:42pm On Oct 15, 2018
He tried
Re: Ekiti Debt Profile Hits N120bn As Fayose Bows Out by soberdrunk(m): 5:42pm On Oct 15, 2018
cheesy "10 billion" a month to his handover" Baba don collect pension and money for lawyers, Ekiti people have 'literally' eaten their future...... angry

44 Likes

Re: Ekiti Debt Profile Hits N120bn As Fayose Bows Out by enemyofprogress: 5:43pm On Oct 15, 2018
That one too good

1 Like

Re: Ekiti Debt Profile Hits N120bn As Fayose Bows Out by abc115: 5:43pm On Oct 15, 2018
grin
Seriously Serious

4 Likes 1 Share

Re: Ekiti Debt Profile Hits N120bn As Fayose Bows Out by Omeokachie: 5:44pm On Oct 15, 2018
Fayose my guy.

Why is Fayemi raising alarm when Buhari is doing the exact same thing...burying the country in debt?

If Fayemi believes that Ekiti debt is wrong, then he has inadvertently rejected Buhari grin

5 Likes

Re: Ekiti Debt Profile Hits N120bn As Fayose Bows Out by Sirpaul(m): 5:44pm On Oct 15, 2018
THE ROCK

APATA.

5 Likes

Re: Ekiti Debt Profile Hits N120bn As Fayose Bows Out by AngelicBeing: 5:44pm On Oct 15, 2018
sad

Re: Ekiti Debt Profile Hits N120bn As Fayose Bows Out by paymentvoucher: 5:45pm On Oct 15, 2018
;D7
Re: Ekiti Debt Profile Hits N120bn As Fayose Bows Out by seunmsg(m): 5:45pm On Oct 15, 2018
Sirpaul:
THE ROCK

APATA.



The rock of corruption ruined my state. He lied last week that he didn't borrow a kobo and he's not leaving any debt behind. Now we know he's a crude liar who left billions in debt for his successor.

42 Likes 4 Shares

Re: Ekiti Debt Profile Hits N120bn As Fayose Bows Out by seunfly: 5:45pm On Oct 15, 2018
God will punish all this governors, they just plung their state into debt at will.

15 Likes 2 Shares

Re: Ekiti Debt Profile Hits N120bn As Fayose Bows Out by micgray100(m): 5:46pm On Oct 15, 2018
Haaaaa... Fayose.... Even with 4 months salary arrears...

2 Likes 1 Share

Re: Ekiti Debt Profile Hits N120bn As Fayose Bows Out by jogsman01(m): 5:46pm On Oct 15, 2018
Interesting....
Re: Ekiti Debt Profile Hits N120bn As Fayose Bows Out by Franzinni: 5:46pm On Oct 15, 2018
sad
Re: Ekiti Debt Profile Hits N120bn As Fayose Bows Out by Nobody: 5:46pm On Oct 15, 2018
Badt Man grin Raise you hand if you understand what Fayose did


Don't be surprised he borrowed 3 /4 that amount in his last two months in office

14 Likes 1 Share

Re: Ekiti Debt Profile Hits N120bn As Fayose Bows Out by DonFreshmoney(m): 5:46pm On Oct 15, 2018
Fayose where has the N3billion gone to..

U will cough it during EFCC interrogation

2 Likes

Re: Ekiti Debt Profile Hits N120bn As Fayose Bows Out by allanphash7(m): 5:46pm On Oct 15, 2018
Really?

2 Likes

Re: Ekiti Debt Profile Hits N120bn As Fayose Bows Out by oyetunder(m): 5:53pm On Oct 15, 2018
cry
Re: Ekiti Debt Profile Hits N120bn As Fayose Bows Out by GrammarNazi1(m): 5:53pm On Oct 15, 2018
seunfly:
God will punish all this governors, they just plung their state into debt at will.
...these governors...their states...

9 Likes

Re: Ekiti Debt Profile Hits N120bn As Fayose Bows Out by Nobody: 5:53pm On Oct 15, 2018
Rising debts with nothing to show for them sad

2 Likes

Re: Ekiti Debt Profile Hits N120bn As Fayose Bows Out by oyetunder(m): 5:53pm On Oct 15, 2018
undecided Ekiti people and jollof rice...

1 Like

Re: Ekiti Debt Profile Hits N120bn As Fayose Bows Out by oyetunder(m): 5:53pm On Oct 15, 2018
cry
Re: Ekiti Debt Profile Hits N120bn As Fayose Bows Out by Pekele007: 5:53pm On Oct 15, 2018
seunmsg:


The rock of corruption ruined my state. He lied last week that he didn't borrow a kobo and he's not leaving any debt behind.
Do you even know the road to your state? undecided

3 Likes

Re: Ekiti Debt Profile Hits N120bn As Fayose Bows Out by Trapnews: 5:53pm On Oct 15, 2018
undecided
Re: Ekiti Debt Profile Hits N120bn As Fayose Bows Out by PythonDancer: 5:54pm On Oct 15, 2018
Kingosytex:
noted!! fayose should endeavour to crush the efcc
Shut up

6 Likes

Re: Ekiti Debt Profile Hits N120bn As Fayose Bows Out by slimfit1(m): 5:55pm On Oct 15, 2018
alawi5k:
I am pATIKUlarly OBIdient about this ATIKUlated movement to get Nigeria restructured and working again. Come 2019 let's join hands and give back to Daura what belongs to Daura, and to Nigeria what Nigeria deserves. I rest my case.

Looking at what that governor left behind it looks like we will have to stick with Buhari. PDP is a dangerous party to give your wallet. I can't leave my dog with them.
Sowore AAC all the way.

41 Likes 4 Shares

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