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Governor Ayodele Fayose has challenged the Debt Management Office, DMO to provide evidence of his borrowing of N56 billion since assumption of office in 2014.
TheNewsGuru.com reports that the DMO had earlier accused Governor Fayose of borrowing a total sum of N56 billion since coming to power on October 16, 2014.
In its latest bulletin released at the weekend, the DMO disclosed that the Fayose administration still had a fresh application of N25 billion in 2017 awaiting consideration.
The publication did not state how the funds were expended but they were believed to have been channeled to capital projects and payment of arrears of workers’ salaries.
Some of the capital projects being executed by the Fayose government include the Ado-Ekiti overhead bridge, new Governor’s Office, new High Court complex, among others.
The DMO disclosed the sources of fresh debts incurred by the Fayose regime to include summary of new loans, foreign loans and local bank loans.
The publication which is also available on the DMO website gave a breakdown of loan transactions between October 16, 2014 and December 2016.
This excludes the N25 billion request for 2017 which was yet to be granted.
According to the document, the Fayose government renegotiated all outstanding loans as at December 31, 2014 for 20 years (till 2036) on behalf of Ekiti State in 2015.
For 2015 Ekiti State borrowed loans include new loans of N24, 811, 574, 926.00; foreign loans stood at N2,709,786,898.98 while local bank loans was N22,101,788,065.28.
In 2016, the summary of new loans was N31, 688, 638, 962.30 with foreign loans standing at N2, 705, 737, 050. 37 while local bank loans rose to N28, 982, 901, 911.93.
The summary of total loans in two years, that is, between January 2015 and December 2016 is N56, 500, 213, 924.56.
The summary of foreign loans is N5, 415, 523, 947.35 while summary of total bank loans incurred by the Fayose administration is N51, 084, 689, 977.21.
However, in a swift reaction on Monday through his Twitter handle @GovAyoFayose, the governor promised to resign if the DMO can provide evidence of the alleged borrowing.
The governor tweeted: “If they can present evidence that I borrowed N56bn, I will resign”.