Fayemi Seeking Another N5 billion Loan To Fund Ekiti Gov Election For APC

Ilesanmi AdekanbiJune 3, 2022

2 minutes read

The Peoples Democratic Party (PDP) in Ekiti State has raised the alarm over desperate moves by the State Governor, Dr Kayode Fayemi to take an N5 billion loan to prosecute the June 18 governorship election for the All Progressives Congress (APC).

The PDP, which also said deductions from workers’ salaries for seven months are also to be used to fund the election for the APC, called on all well-meaning Ekiti indigenes to caution Governor Fayemi to desist from mortgaging the future of the State because of his tall project of installing a successor.

In a statement on Friday, by the State Publicity Secretary, Raphael Adeyanju, the party alleged that Governor Fayemi met with leaders of Cooperative Societies in the State Civil Service, Public Service as well as those in the Local Governments on Wednesday in respect of the N5 billion loan.

The statement read; “The governor met with some banks officials two weeks ago to seek a loan for the election, but he was told they only had funds meant for loans to Cooperative Societies and that the governor should talk to leaders of the Cooperatives Societies to

“It was on the basis of this that Governor Fayemi met leaders of Cooperative Societies in the State at the Government House, Ado Ekiti on Wednesday.

“Sad enough, on that Wednesday, Governor Fayemi had to fly to Akure from Abuja with a chattered flight, moved to Ado Ekiti while the aircraft waited for him. He left Ado Ekiti immediately after the meeting and flew to Abuja.

“At the meeting, leaders of the Cooperatives Societies told the governor bluntly that they had no money in any bank and that the deductions from workers salaries that should be their fund have not been paid. They also advised the governor to seek financial help from his well-to-do friends.

“Ekiti people should recall that towards the June 21, 2014 governorship election, Fayemi’s government obtained N5 billion loan, using Fountain Holdings Limited, a company with N15 million share capital.

“The N5 billion loan was obtained from EcoBank without recourse to the Debt Management Office (DMO) and it was claimed that the loan was used to execute capital projects like construction of roads.

“The N5 billion loan was used to fund Fayemi’s failed reelection bid in 2014 and same path is being followed now, with another N5 billion being sought.”