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B N W: Biafra Nigeria World News |
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Ekiti ex-gov, Adebayo, denies loss of N200m from capital market
FORMER Governor Adeniyi Adebayo of Ekiti State has denied the claim that N200 million out of the N2.5 billion raised from the capital market by his administration was missing in transit.
Reacting to the claim allegedly made by the Secretary to the Ekiti State Government, Mr. Adeola Alofe, Adebayo, in a statement by his former Commissioner for Finance, Mr. Bayo Aina, at the weekend, said it was intentional blackmail to divert attention from the myriad of problems facing his successor in office.
He explained that in 2001, his administration went to the capital market to raise money for developmental projects.
Adebayo stated that out of the first tranche of N2.5 billion, the state government was able to raise N2,282,057,300, leaving a balance of N217,942,700.
He said the documents relating to the bond issue were kept at the state Ministry of Finance and stated in the handover notes given to the state governor, Mr. Ayo Fayose, saying the issue of missing money did not arise.
Alofe allegedly said the Adebayo administration raised N2.5 billion and that only N2.3 billion was spent on the state and claimed that the remaining N200 million was lost in transit between Lagos and Ado-Ekiti.
Adebayo described the allegation as a lie, adding that an administration that meant well for the people should not trade in blackmail.
He pointed out that nobody would take the state government seriously if it refused to allow transparency to dictate its actions.
The former governor said he was happy that the Security and Exchange Commission (SEC) had already given his administration a clean bill on the spending of the proceeds of the bond revenue before leaving office.
He revealed that SEC officials not only monitored the spending but also inspected the projects executed with the proceeds of the bond revenue and praised them.
He said any negative information passed to the public on the bond issue with the sole aim of tarnishing his image should be disregarded, maintaining that he did his best for the state under the peculiar situation he found himself in government.
But Alofe, in another statement at the weekend, distanced himself from the allegation attributed to him, saying the reports were wrong.
His words: "I did not make such a statement as erroneously reported in newspapers and some electronic media. The fact is that N2.3 billion out of the first tranche of N2.5 billion had been utilised but the balance of N200 million is readily available now to be utilised along with the second tranche."
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