Ekiti APC Urges Fayose To Make Judicious Use Of Bailout Funds

Ayo Fayose

The All Progressives Congress (APC) in Ekiti state has asked Governor Ayodele Fayose to make judicious use of the bail-out loans being facilitated by the Federal Government.

“This call became imperative against the backdrop of his alleged misapplication of the balance of the N4 billion bond taken by former Governor Adeniyi Adebayo,” which the party said Fayose diverted in 2004 to other purposes different from the terms of the bond agreement.

In a statement by the Ekiti APC Publicity Secretary, Taiwo Olatubosun, the party noted that people would want the governor to spend the loans for salary and other debts owed civil servants and former political office holders. He said the disbursements and spending of the loans would be monitored to ensure compliance with the terms of borrowing to curb diversion.

“Our concern is premised on the alarms Governor Fayose has been raising on the status of the state’s debts, particularly his condemnation of the Federal Government’s bail-out initiative, which he dismissed as not a bail-out but a statutory allocation.

“It is gratifying that the Federal Government again made available N9.6 billion to the state to offset salaries, allowances and other emoluments owed civil servants, pensioners and former political appointees, but we have our reservations on Fayose’s new move to access another N10 billion to be repaid in 10 years.

“Our reservations is premised on the evidence that the governor presented no development blueprint before Ekiti people during campaigns,” Olatunbosun explained.

“We urge workers to insist that the loans should be devoted to the payment of their salaries as approved by the lending authorities. Former political office holders should impress it on the governor to pay their severance allowances and other entitlements as approved in the mandate of the loan scheme.

“Knowing the kind of man the governor is in money matters, we hereby put the Economic and Financial Crimes Commission (EFCC) and Independent Corrupt Practices Commission and other Related Offences (ICPC) on notice to monitor disbursements of the loan  to ensure that the money does not end up in private pockets,” Olatunbosun concluded.