If they can present evidence that I borrowed N56bn, I will resign – Fayose

If they can present evidence that I borrowed N56bn, I will resign.

The Ekiti State governor, Mr Ayodele Fayose has said that if anybody can present evidence that he borrowed N56bn, he will resign as governor.

The governor reacting to reports that the State borrowed a total sum of N56 billion since he assumed office and that a fresh N25 billion loan was applied for;said on his Twitter handle that ‘’If they can present evidence that I borrowed N56bn, I will resign.’

Also the Ekiti State Government has described as total falsehood, report; saying that; “the only fresh loan taken by the government of Fayose was the N10 billion grant from the Excess Crude Account, which was released to all States for capital projects, N2.8 billion requested from Wema Bank to pay State Universal Basic Education Board (SUBEB) counterpart fund out of which N1 billion has been accessed and
N600 million for MDGs counterpart fund, which has been repaid.”

The government said “the report, which was attributed to the Debt Management Office (DMO) was orchestrated from the media office of the Minister of Mines and Steel Development, Dr Kayode Fayemi, who is obviously struggling albeit unsuccessfully to redeem his battered image by trying to change the narrative from the debt he plunged Ekiti State to and the wanton looting of the treasury when he was governor.

We are aware of how hard Fayemi’s media handlers tried yesterday, to get the false report published in major newspapers, claiming that they had a classified document from the DMO.”

Special Assistant to the State Governor on Public Communications and New Media, Lere Olayinka, who reacted to the report in a release issued on Monday, said; “There is no recent bulletin from the DMO website.

In its latest bulletin released at the weekend, the DMO disclosed that the Fayose administration still had a fresh application of N25 billion in 2017 awaiting consideration.

The publication did not state how the funds were expended but they were believed to have been channeled to capital projects and payment of arrears of workers’ salaries.

Some of the capital projects being executed by the Fayose government include the Ado-Ekiti overhead bridge, new Governor’s Office, new High Court complex, among others.

The DMO disclosed the sources of fresh debts incurred by the Fayose regime to include summary of new loans, foreign loans and local bank loans.

The publication which is also available on the DMO website gave a breakdown of loan transactions between October 16, 2014 and December 2016.

This excludes the N25 billion request for 2017 which was yet to be granted.

According to the document, the Fayose government renegotiated all outstanding loans as at December 31, 2014 for 20 years (till 2036) on behalf of Ekiti State in 2015.

For 2015 Ekiti State borrowed loans include new loans of N24, 811, 574, 926.00; foreign loans stood at N2,709,786,898.98 while local bank loans was N22,101,788,065.28.

In 2016, the summary of new loans was N31, 688, 638, 962.30 with foreign loans standing at N2, 705, 737, 050. 37 while local bank loans rose to N28, 982, 901, 911.93.

The summary of total loans in two years, that is, between January 2015 and December 2016 is N56, 500, 213, 924.56.

The summary of foreign loans is N5, 415, 523, 947.35 while summary of total bank loans incurred by the Fayose administration is N51, 084, 689, 977.21.

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