“Fayemi’s misappropriation of N852.9m SUBEB fund costs Ekiti N2.8bn UBE fund “

Last Wednesday, UBEC Deputy Executive Secretary, Dr. Yakubu Gambo told
the Senate Committee on Finance’s Budget Defence that Dr Fayemi, who
is now the Minister of Solid Minerals used the N852.9 million
counterpart funds dedicated for education by the federal government
through the UBEC for other purposes.

Reacting, the SUBEB Chairman, Senator Bode Ola said it was painful
that Ekiti State and its people were suffering for the sin committed
by the APC government of Fayemi, adding that “it is even more
embarrassing and ridiculous that Fayemi’s commissioner for Finance,
Dapo Kolawole could defend this clear criminal act perpetrated against
the people of Ekiti State by saying there was no law forbidding States
from borrowing counterpart funds to support states capital development
operations.”

Senator Ola said; “A sum of  N852, 936,713.92 was paid into the SUBEB
Access Bank account on January 14, 2014 as counterpart fund for 2012
UBEC projects and on this premise, UBEC released its Matching Grant of
N852, 936,793.12 on January 3, 2013.

“On October 8, 2014, eight days to the end of Fayemi’s tenure, the
same amount of N852, 936,713.92 was transferred from the account of
SUBEB, leaving a sum of N9, 139,691.40 as credit balance in the
account.

“This was done without the knowledge and approval of UBEC and because
of this misappropriation, UBEC blacklisted Ekiti State and this has
made it impossible for us to access Matching Grant for 2013, 2014 and
2015.

“UBEC, in a 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.

“For this reason, all UBEC/SUBEB 2012 ongoing projects have been
halted, payment for all 2012 projects cannot be made to contractors,
fund for special education; teachers capacity building etc for 2013,
2014 and 2015 cannot be accessed, infrastructures in our schools are
neglected, in fact, SUBEB in Ekiti State is totally grounded!”

Speaking further, the SUBEB Chairman said; “Our Governor, Ayodele
Fayose responded to UBEC letter on the illegal withdrawal on April 22,
2015, stating that the illegal withdrawal was carried out by Fayemi’s
administration. He also pleaded with UBEC to rescind its decision to
suspend Ekiti State from accessing FGN-UBE Intervention Fund while
allowing him to investigate the matter.

“Consequent upon the Governor’s directive, a 5-Man Panel headed by the
Oluyin of Iyin-Ekiti, Oba Ademola Ajakaiye was set up and the panel
established the withdrawal of the N852, 936,713.92 from SUBEB account
domiciled at Access Bank, Ado-Ekiti branch consequent upon which Ekiti
State was suspended from accessing FGN-UBE fund and also went further
to involve the Economic and Financial Crimes Commission (EFCC) in the
matter if the fund was not returned.

“Report of the panel has been forwarded to UBEC.”

While describing Fayemi’s justification of the illegal withdrawal as
ridiculous, Senator Bode Ola said; “Even UBEC, in its letter said the
withdrawal constitutes a serious financial crime and also violates