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The Ekiti State House of Assembly has petitioned the Economic and Financial Crimes Commission, calling for the investigation and prosecution of the immediate past Governor of the State and Minister of Solid Minerals, Dr.Kayode Fayemi, and others for allegedly looting the State to the tune of over N40 billion.

The petition, dated October 24, 2016 and signed by the Speaker of the House of Assembly, Pastor Kolawole Oluwawole, was submitted to the EFCC in Abuja on Thursday.

It was submitted by the Deputy Speaker, Hon. Segun Adewumi; the Chairman, House Committee on Information, Dr. Samuel Omotoso; and Hon. Sina Animasaun.

The petition was titled: “Complaint of fraudulent practices against former Ekiti State governor and Minister of Solid Minerals, Dr. Kayode Fayemi & others: Call for investigation & prosecution.

Other people mentioned in the petition were Dapo Kolawole, Yemi Adaramodu, Abiodun Oyebanji, Architect Oyelade (CASA Nigeria Limited) and Bayo Kelekun.

The Deputy Speaker, who addressed newsmen after the petition was submitted, said: “Since EFCC has claimed that the commission does not have any complaint against those holding power in Abuja, we have decided to submit this petition openly so that Nigerians and, indeed, the entire world will be able to follow it up and ask questions from the EFCC as to what has happened to it.”

Omotoso, who also corroborated the Deputy Speaker, disclosed that the petition bordered on 10 major issues, namely: Construction of new civic centre, construction of new governor’s office, mismanagement of the N25 billion bond and N5 billion commercial bank loan, construction of new government house, diversion of State Universal Basic Education Board N852.9 million, fraudulent purchase of 156 units of Ford vehicles from Coscharis Motors and inflation of road contracts, among others.

Also Animasaun said the State House of Assembly could no longer pretend as if nothing was wrong in the face of the monumental looting of the State treasury perpetrated by the immediate past All Progressives Congress government of Fayemi, hence the complaint to the EFCC.

The petition, which was accompanied with several documents, reads: “Consequent upon the resolution of the House of Assembly, we write to request for the investigation of the following allegations of fraudulent practices against the former Governor of Ekiti State and incumbent Minister of Solid Minerals, Dr Kayode Fayemi and others. These fraudulent practices include, but not limited to contracts inflation, misappropriation of fund, diversion of Local Council and State Universal Basic Education (SUBEB) funds, amongst others.

1: Construction of New Civic Centre (See Document marked ANNEXURE 1)
Contract for the construction of a New Civic Centre was awarded to TIANJIN-YUYANG Construction Eng. Limited on August 30, 2012 at the cost of N2, 573,584,395.75. Consultancy on the construction was awarded to CASA Nig Ltd on June 11, 2012 at the cost of N137, 611,325.07.

As at the end of 2012, a sum of N643,396,098.94 (representing 25% of total contract sum) had been paid to TIANJIN-YUYANG Construction Eng. Limited while the consultant, CASA Nig. Ltd was paid N89,801,901.06 (representing 80% of total contract sum).

In 2013, a sum of N350, 116,245.17 was paid to TIANJIN-YUYANG Construction Eng. Limited, making a total sum of N993, 512,344.11 (representing 45% of total contract sum).

2: New Governor’s Office (See Document marked ANNEXURE 2)

2a. Contract for the construction of earthwork for the New Governor’s Office was awarded to PONTI-ITALWARE Nig Ltd on March 3rd, 2012 at the sum of N383, 900,911.06, with a sum of N115, 170,273.32 paid to the contractor. The New Governor’s Office was proposed to be constructed from the N25 billion Bond obtained by the State Government, with N3, 474,700.000.00 earmarked for the project.

However, despite that N115, 170,273.32 was paid to PONTI-ITALWARE Nig Ltd for earthwork, the site was abandoned, with no significant work done.

BOC ARCHITECTS of 32 Adeola Adeleye Street, Ilupeju, Lagos, the Project Consultant was paid N11,596,746.41.

Despite the payment of N115, 170,273.32, nothing significant was done.

2b. Contract for the construction of the New Governor’s Office was awarded to Messrs Interkel Nig. Ltd (12, Maitama Sule Street, Southwest Ikoyi, Lagos 0812900918) on March 1, 2014. The contract sum was N2, 027,495,857.45. Out of the 30% mobilisation fee of N608, 248,757.24, a sum of N100 million was paid to the contractor with nothing to show.

3. N25bn bond and N5bn commercial bank loan (See document marked ANNEXURE 3)
3a. N25 billion was sourced from the capital market to finance capital projects. This was obtained in two tranches of N20 billion and N5 billion in October 2011 and January 2014 respectively.

The Bond Prospectus, which was approved by the House of Assembly was not adhered to as the money was diverted into projects not listed in the Bond Prospectus. For instance, N1 billion was earmarked for the construction of Civic Centre whereas N1, 465,401,522.72 was spent on the project from the bond, with project left uncompleted.

Also, the State Pavilion to which N1, 583,292,358.00 was earmarked and total sum of N1, 457,945,445.44 was paid to the contractor was left uncompleted.

Projects funded from the Bond Proceeds but were not within the scope of the Bond Prospectus are listed in the document marked ANNEXURE 3.

3b. Towards the June 21, 2014 governorship election, N5 billion loan was obtained, 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.

Our question is; is it part of the responsibilities of Fountain Holdings Limited to execute capital projects like road construction on behalf of Ekiti State Government?

For your information, Fountain Holdings Limited is an investment company owned by the Ekiti State Government. The responsibility of Fountain Holdings Limited is to manage and supervise all companies owned by the Ekiti State Government. The Share Capital of the company is N15m, and we wonder how a company with N15m Share Capital could be granted N5bn loan by EcoBank without any recourse to the DMO!

As at today, there is no single evidence of utilisation of the N5 billion, suggesting that the loan was taken to fund Fayemi’s botched re-election bid.

4. New Government House (See Document marked ANNEXURE 4)
Contract for the construction of a new government house was awarded to KOURIS Construction Nigeria Limited on July 27th, 2012. The initial contract sum was N2, 054,573,822.00.

Curiously, another N730, 186,636.87 contract for additional works was awarded to the same company on October 10th, 2014, FIVE days to the end of the government of Dr Kayode Fayemi! It was claimed that the additional works was as a result omissions on the original Bill of Quantities prepared for the project.

For a contract awarded on July 27th, 2012, the question is; why waiting till October 10th, 2014, five days to the end of the government to realise that there were omissions on the original Bill of Quantities prepared for the project?

Curiously again, another N604, 961,645.72 contract was awarded to KITWOOD Nigeria Limited on June 18th, 2014 (three days to the June 21, 2014 governorship election) for the furnishing of the government house.

To show that the State Ministry of Works was not carried along in the contract award and execution, the contractor was asked to report at the office of Fayemi’s Chief of Staff, Yemi Adaramodu to sign contractual agreement and also obtain detailed specifications of the items to be procured.

5: Diversion of State Universal Basic Education Board (SUBEB) (See Document marked ANNEXURE 5)

A sum of N852, 936,713.92 was illegal withdrawn from SUBEB Access Bank Account Number 0065385694 on October 8, 2014, eight days to the end of Dr Fayemi’s tenure as Ekiti State governor.

The N852, 936,713.92 was counterpart fund paid by the Ekiti State Government to access the Universal Basic Education Commission (UBEC) 2012 Marching Grant of N852, 936,793.12.

This illegal withdrawal was in contravention of Section 11(2) of the Universal Basic Education (UBE) Act, 2004.

It should be noted that UBEC Deputy Executive Secretary, Dr. Yakubu Gambo told the Senate Committee on Finance’s Budget Defence that Dr Fayemi, used the N852.9 million counterpart funds dedicated for education by the federal government through the UBEC for other purposes.

Mr Dapo Kolawole, who was Fayemi’s Commissioner for Finance, while defending the allegation, said there was no law forbidding States from borrowing counterpart funds to support states capital development operations.

Consequent upon this illegal withdrawal, UBEC caused a letter to be written to the Ekiti SUBEB in which the commission called for the return of the N852, 936,713.92 to the account of SUBEB.

UBEC also suspended Ekiti SUBEB from accessing any further FGN-UBE Intervention Fund until further notice.

UBEC, in the letter dated April 16, 2015, with Reference Number; UBEC/FA/SUBEB/EK/183/Vol.II/162 described the withdrawal as criminal act that violated Section 11(2) of UBE Act 2004 and conveyed its suspension of Ekiti State from accessing any further FGN-UBE Intervention Fund.

UBEC letters dated April 16, 2015 and April 29, 2015 as well extract from Ekiti SUBEB Statement of Account are herewith attached.

6: Diversion of State Universal Basic Education Board (SUBEB)

In 2012, contracts worth N4, 246,094,751.14 were awarded through the Bureau of Special Projects (under the Governor’s office), headed by Mr. Kelekun. The contracts were for renovation of schools, supply of school furniture and construction of classrooms.

Funds for these projects were taken from SUBEB and Local Governments accounts.
Of these contracts, N3, 672,078,820.14 were for renovation of schools alone. Atlantic Offshore & Properties got N1, 152,562,555.14, Strabic Nig. Ltd got N1, 107,744.408.21, Bam Darley Nig. Ltd. got N924, 977,310.95 while Fatub Nig. Ltd got N486, 794,545.84.

Immediately the renovation contracts were awarded, Atlantic Offshore & Properties was paid N750 million (70% of contract sum), Strabic Nig. Ltd was paid N600 million (65% of contract sum), Bam Darley Nig. Ltd was paid N600 million (70% of contract sum) while Fatub Nig. Engineering Ltd was paid N150 million (60% of contract sum).

A total of N2.1bn was paid from SUBEB and LG accounts to these contractors even before the commencement of work, and over 40% of the payment was diverted into private pockets.

In the 2014 Capital Projects Report, payments to the contractors were presented as;
a: Atlantic Offshore & Properties – N1, 022,130,415.64
b: Strabic Nig. Ltd – N957, 237,829.62
c: Bam Darley Nig. Ltd – N742, 730,990.25
d: Fatub Engineering Nig. Ltd – N431, 327,270.41.
As at the time N1, 022,130,415.64 was paid to Atlantic Offshore & Properties, only 60% work had been done, meaning that Atlantic Offshore & Properties was only entitled to N691, 537,551. Bam Darley Nig. Ltd that was paid N742, 730,990.25 had done 60% work too and ought to have been paid N554,

7: Inflation of Road Contracts

Contracts for REHABILITATION of Roads were awarded at highly inflated cost, with some of the roads costing as high N50 million per kilometre. The REHABILITATION only involved cutting of failed portion, filling with laterite and stone base and asphalt overlay. No subsoil drainages, new pipe culverts and box culverts were constructed.

For instance, 10.7km Ado-Afao was awarded at N538, 638,704.26, 17km Ilawe-Igbara Odo-Ibuji road, which was awarded at a little above N200m by the government preceding Fayemi’s government was re-awarded at N894,698,043.75, 11.5km Ado-Ilawe road was awarded at N482,849,098.20, 3.6km Ijigbo-Baptist College (Ilawe road) was awarded at N788,038,599.60 while Fajuyi-University Teaching Hospital Road that is less than3km was awarded at N447,544,063.50

Rehabilitation of 13km Old Garrage-Ado-Ikere road was awarded to Plycon Nig Ltd at N2, 369,833,077.15.

Construction of 0.8km Old Garrage-Ojumose (Ado-Ekiti) road was awarded to Heartland Nig. Ltd at N866, 872,873.13.

8: Diversion of LG Funds to Pay For Roads Awarded By State Govt.

Using the State Public Works Corporation (PWC), rehabilitation 5km township roads were embarked upon in each of the 16 LGs. Contracts for the rehabilitation of these roads were awarded without any imput from the respective LGs while fund for the project was deducted from the local councils allocation.

For instance, rehabilitation of 5km roads in Moba LG was awarded for N368, 950,821.09, Ido/Osi LG for N329, 950,821.50 and Ilejemeje LG for N347, 914,157.68. Apart from the PWC, cronies of Governor Kayode Fayemi were also given the contract.

Most of the road projects have been abandoned.

9. Fraudulent Purchase of 156 Units of Ford vehicles from Coscharis Motors
N1.2 billion loan was obtained from First Bank Plc for the purchase of 156 units of Ford vehicles from Coscharis Motors Limited, for traditional rulers in the State.

It is on record that only 156 units of the vehicles were delivered while Coscharis, in its letter dated May 2, 2014 said it delivered 235 units. Up till today, the remaining 79 vehicles are yet to be accounted.

It is also on record that proposal for the supply of vehicles was submitted on November 14, 2013 while the vehicles were distributed to the Obas on August 27, 2013! The supplier, Coscharis also registered as a civil/building contractor in Ekiti State on November 13, 2013.

Coscharis, which supplied the vehicles only registered as a civil/building contractor in Ekiti State on November 13, 2013 and submitted proposal for the supply of the vehicles on November 14, 2013 while the vehicles were supplied in August 2013 and distributed on August 27, 2013, three clear months before the proposal to supply the vehicles was made.

Furthermore, it is also on record that instructions were sent to Local Government Chairmen on November 15, 2013 to deliberate on the proposal sent by Coscharis on November 14, 2013 in their F&GPC meetings and their decision to get back to the Ministry of Local Government and Chieftaincy Affairs not later than November 22, 2013; while the vehicles they were to deliberate upon in the F&GPC meetings in November were delivered in August and distributed to the Obas on August 27, 2013.

Also, while the vehicles were distributed on August 27, 2013 and the tracking done on September 13, 2013, certificate of no objection to procure the vehicles was issued on February 24, 2014.

10. Ado Ekiti Beautification Project (See Document marked ANNEXURE 6)
Contract worth N596, 151,159.10 was awarded for construction walkways and beautification of Ado Ekiti, the Ekiti State capital was awarded to nine contractors. (See Annexure … for list of contractors).

Total sum of N306, 165,425.90 was paid to the contractors. A visit to the project sites will reveal that nothing significant was done to justify this payment.

Apart from Dr Kayode Fayemi, the following people are involved in the alleged fraudulent practices amongst others.

1. Mr Dapo Kolawole – 08135063506
2. Mr Yemi Adaramodu – 08035019919
3. Mr Abiodun Oyebanji – 08072074878
4. Arc Oyelade (CASA Nig Ltd) – 07059825045
5. Mr Bayo Kelekun – 08129020900
6. Interkel Nig Ltd – 08129009118, 08033223296

Consequent upon these alleged fraudulent practices perpetrated by the immediate past government of Dr Fayemi, Ekiti State has been finding it difficult to meet up with its responsibilities.

It will also interest you that several petitions have been written to your commission both by concerned citizens of the State and the State Government itself.

We are however miffed that nothing has been done to these petitions despite that they were duly received by the commission.

In view of the need for an all-inclusive anti-corruption fight, we implore that you act promptly by directing thorough investigation into the alleged fraudulent practices enumerated above with a view to bringing anyone fund culpable to justice.

Thanking you for your anticipated prompt action.


JUST IN: Gunmen Attack, Assassinate Ogun Chief Adeyinka Folarin



Some yet-to-be-identified gunmen have killed a popular traditional chief, Adeyinka Folarin, the Baasegun of the Itunsokun community in Ogun State.

The gunmen suspected to be cultists were said to have on Monday night around 8 pm attacked Folarin in his residence in Sagamu

Two traditional rulers under anonymity  confirmed the killing.

One of the traditional rulers said, “The information is correct but I don’t have much information about the incident. We heard that the chief who is a popular traditional chief and member of the Akarigbo in-council was killed last night. He is popularly called Baasegun, we however can’t say these are the people who did these terrible acts. We leave the police and other security agencies to do their job.”

A staff of Sagamu Local Government who pleaded anonymity said that the incident also made the LG workers hurriedly shut down for the day to avoid being caught in any act of violence that the killing could cause.

The source said, “Already, tension is very high in the town as I speak to you, workers are already moving out of the local government secretariat to avoid being caught in any form of crisis. Many are saying the man was killed by cultists but no one could really confirm this, the information is still scanty now.”


More to come…

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Emefiele: President Tinubu Breaks Silence, Says Former CBN Governor Was Suspended Because Financial System Under Him Was Rotten



Nigeria’s President, Asiwaju Bola Ahmed Tinubu, on Friday in Paris, France, told the Nigerian community that he suspended Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, from office because the financial system under him was rotten.

Emefiele is still being detained by the DSS.

Tinubu spoke during an interactive session with Nigerians in the Diaspora, resident in France and neighbouring countries, on the side lines of the two-day financing climate pact summit, which ended in Paris on Friday.

He also noted that many of those resident abroad were unable to send money to their relatives because of the multiple exchange rates, which he said had become a thing of the past.

He said: “Then the financial system was rotten. Few people making bags of money and then you yourself, you stopped sending money home to our poor parents. Several windows. But that is gone now. It’s gone.

“The man is in the hands of the authorities. Something is being done about that. They will sort themselves out.”

The President, while describing fuel subsidy as a 40-year-old scam, disclosed that his aides, Dele Alake and Wale Edun, left out subsidy removal from his inauguration speech, adding that he had to summon the courage to announce it when he mounted the podium to give his inaugural speech. He said fuel subsidy was making just a few smugglers rich.

Tinubu said: “Some countries were bleeding us. Courage was missing. Sometimes I became an advocate of it. But God gave me the opportunity when I danced around and strategised with my team. We won the presidency. And the day I was declared winner, I fell almost sick with joy.

“The few friends that visited me were rejoicing. So I asked the question, you asked me to bring this trophy, this victory. What do you do with it?

“I brought it. I won. We must achieve with it. We must change Nigeria with it. And then Wale Edun and co, we started debating, putting my speech together without the question on subsidy. I got to the podium, I was possessed with courage and I said ‘subsidy is gone.’

“They thought it was a joke of the century until I called NNPC. We are tired of feedings smugglers, making few people rich and subsidising the next-door neighbour.

“I met with the President of Benin Republic today. Everybody is equal now. We are friends. We are conjoined twins joined by the hips. How we will separate each other is with this fuel subsidy. Let us see whether we will survive or not but we are going to survive.”

Tinubu assured Nigerians that palliatives to cushion the effect of the removal of the subsidy were being worked out.

On why he kicked against organised Labour embarking on protests, he said they could not be asking for palliative, salary increase, transportation and still want the old order to remain.

“You want money increase in palliative, transportation what are you protesting about? Are you sharing part of the subsidy? If you protest, I will join you and protest against. And they stopped. No protest

“Palliative we will get but we have to save the money in order to embark on giving palliative”.

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Dangote Refinery Will Generate $21billion, To Employ Over 100,000 Youths



Amid encomium from eminent personalities, which included President Mohammadu Buhari and five other African heads of state, President of the pan-African Conglomerate, Dangote Industries Limited (DIL), Aliko Dangote disclosed yesterday that the newly commissioned 650,000pbd refinery would employ over 100,000 Nigerians youths as well as generate over $21 billion, therefore saving the country huge forex, that would have been used for fuel importation. The company, according to him, now has over 33,000 employees.

Much to the excitement of Nigerians, Dangote said the commissioning has marked the beginning of the new journey of the self-sufficiency in refined petroleum products and exportation of same just as been achieved in Cement and lately fertilizer.

Dangote lamented that the current fuel crisis has had negative impact on the nation’s economy and that informed his decision to build a world class refinery that would change the trend  and that though faced challenges but decided to trudge on.

He highlighted events leading to his firm deciding to build its own refinery after his attempt to acquire one of the existing moribund did not materialize noting that he decided to change marketing strategy and settle for gigantic project ever undertaken by an individual world over.

According to him, the refinery plant would be run at the highest effective and efficient level for maximum benefits to all Nigerians noting “we will replicate what we achieved in cement and fertilizer by attaining self-sufficiency and becoming net exporter.

Dangote assured Nigerians that 40 per cent of the production capacity will be available for export with the coming on stream of the plant guaranteeing raw materials for plastic, and pharmaceutical industries.

In his remark, President Buhari congratulated Dangote Group, saying “the 650,000 barrels a day of crude which will enable our country to achieve self-sufficiency in refined products and even have some supplies for export saying the government and people of Nigeria are proud of the doggedness and tenacity of Dangote as entrepreneur.

Said he; “This feat at this time of the nation’s economic development clearly made this event a notable milestone for our economy and the game changer for the downstream petroleum products not only for Nigeria but the entire African continent. Dangote Group has helped transform our economy from heavy import dependence to a net exporter in some critical industries, including cement and Fertiliser.”

He noted that the economy which has been stressed for many decades by huge deficits in economic infrastructure and over a decade of insurgency has also been severely impacted by several external crises, including the global financial crisis, the collapse of world crisis the Coronavirus pandemic and the Russia Ukraine war.

“The consequences of these challenges constitute a severe strain on our economy and limiting government’s ability to provide basic infrastructure without resorting to borrowing. Government therefore decide to focus attention on creating an enabling environment for the private sector to thrive and fill the enormous gap in investments not only in infrastructure, but also in all critical sectors.

“We recognize that without active participation of the private sector and a strong commitment to public-private partnership, the economy will not be able to continue to meet the challenge and economic growth”, while expressing the hope that the coming administration will continue to apply such innovative schemes to accelerate the fruition of critical infrastructure, in particular roads and gas pipelines.

Governor of Central Bank of Nigeria (CBN), Mr. Godwin Emefiele while commending Mr. Dangote for the successful completion of the refinery project said it would not only aid that nation’s domestic petrol needs, but also help in generating export revenues for our country.

Emefiele recalled; “In September 2013, when Alhaji Aliko Dangote announced his plans for the refinery, it was estimated to cost about US$9 billion, of which US$3 billion was projected as equity investment by the Dangote Group and the balance financed through commercial loans. Due to an array of factors, the project was eventually completed with a total of US$18.5 billion with funding distributed into 50 percent equity investment and 50 percent debt finance. I am proud to state that the commercial loan component of the project was financed majorly by our domestic banks with the balance sourced from foreign banks. The Central Bank of Nigeria also partnered, as always, with the Dangote Group in ensuring the successful completion of the project by providing about N125 billion, to cover domestic currency requirements for the venture.

“What you may not be fully aware of, Your Excellencies, is that the Dangote Group has started repaying some of the commercial loans even before the commissioning of this facility. This reflects the commercial capability of the Group and its Chairman. I am pleased to inform everyone today that, following extensive repayments, outstanding debt has dropped appreciably from over US$9 billion to US$3 billion.”

The CBN Governor commended Nigerian banks saying they did not only partnered with the project through effective financing but were keenly aware of the importance of the project for our nation. “They provided immense support and exceptional understanding, even when interest payments and principal repayment had fallen due.”

He described the successful completion of the refinery to President Buhari’s astute vision to ensure that Nigeria produces what Nigerians consume and that we consume what we produce. “The refinery and petrochemical project by the Dangote Group is a testament to your vision for Nigeria. It shows that, regardless of what the world thinks, Nigeria can be self-sufficient in all products that we consume and at the same time export our excess output to the rest of the world.”

“Aside enumerating our strategic efforts in the agriculture and other critical sectors, a sterling projects that we highlighted was the gigantic Dangote Refinery and Petrochemical project. The world doubted our willpower to succeed with this project. In hindsight, I could appreciate their skepticism because they do not understand how a single individual could build a refinery capable of serving an entire nation. To them, projects of this magnitude are usually only undertaken by sovereigns not individuals.”

Group Managing Director of the Nigerian National Petroleum Company Ltd (NNPC), Mele Kolo Kyari said the NNPC was happy to partner Dangote Refinery because the project has potentials for smooth supply of petroleum and it would guarantee healthy competition for the benefits of the nation’s economy.

He said the NNPC Ltd. was committed to value addition to the potentials of the project noting that the new Petroleum Industry Act will provide security of supply of refined products and protect the plant. The NNPC boss added that his was happy the refinery is coming on board at a time the subsidy on imported products has become unbearable for government.

In their respective goodwill messages, Presidents of Ghana, Senegal, Niger, Benin Republic and Chad expressed satisfaction that the Dangote Refinery will serve the West African region and that their countries would be beneficiaries saying the Dangote Refiner is an African company for Africa by an African entrepreneur.

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