Home Latest EFCC Accuse Gov. Fayose Of N680m Fraud

EFCC Accuse Gov. Fayose Of N680m Fraud

The Economic and Financial Crimes Commission (EFCC), has accused Ekiti state Governor Ayo Fayose, of diverting bailout funds meant for the payment of workers salary.

The anti-graft agency alleged that the Governor put N680m in a fixed deposit account, which yields N6m interests monthly.

The EFCC in a report disclosed that it made the discovery in its investigations into how the bailout funds given to Ekiti state by the Federal Government was spent.

The anti-graft agency also revealed that its officers are working hard to uncover those who took part in the deal.

According to the EFCC report, “A total of N680m was diverted on January 25, 2016. The funds, comprising N200m from the Ekiti State Local Government salary account, N300m from the Ekiti State Pension Account and N180m from the Ekiti State FAAC Account, were first credited into the Consolidated Revenue Account in Zenith Bank on January 25, 2016, and later transferred on the same day into an account called – 2015 MDG-CGS state project – domiciled in Zenith Bank.

“Analysis of the bank statement revealed that the money was later placed in a fixed deposit, where it was yielding a monthly interest of about N6m at a time pensioners and workers in Ekiti State were owed months of unpaid entitlements.”

“The detained Ekiti State Commissioner for Finance and its Accountant-General committed to assisting the commission with relevant documents before they were granted administrative bail and ordered to report back in two weeks,” it added.

Meanwhile, the Ekiti state Commissioner for Finance, Toyin Ojo, and the Accountant-General, Yemisi Owolabi have been released by the EFCC after spending 12 days in detention.

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