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Alleged N852.9m Theft: Fayemi Not Cleared by Panel – SUBEB

The Ekiti State Universal Basic Education Board (SUBEB) has described as false claim by former governor of the state and Minister of Solid Minerals Development, Dr. Kayode Fayemi, that he had been cleared of any complicity in the alleged misappropriation of its N852.9 million fund, The Guardian reports.

Chairman of Ekiti State SUBEB, Senator Bode Ola, who spoke yesterday with journalists in Ado-Ekiti, said the report of the judicial panel of inquiry set up by the government to investigate the financial activities of his government, which is now being celebrated by the former governor to confuse the public, was just for fact-finding and not to indict or exonerate anyone.

He, therefore, urged Fayemi and his men to seize the opportunity of the inquiry to clear their names of any allegation levelled against them instead of seeking to deceive the public with false reports.

He said that going by the content of the panel report being referred to, it is clear without any ambiguity that financial crime was committed. He said: “It was established that the Ekiti State Government under Dr. Kayode Fayemi obtained loan from the bank and moved the fund out of SUBEB account one year after.

“The loan was got from the bank without agreement as to interest rate, terms of payment and no Irrevocable Standing Payment Order (ISPO).“How could the said bank used to cause the suspension of the state from benefitting from UBEC funds have granted loan without first agreeing on interest rate and terms of payment?

“The money was paid into SUBEB account in November 2013, while it was moved out of the account in October 2014 – close to one year after the money was paid and used to access UBEC matching grant and contracts awarded.”




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