{"id":47002,"date":"2016-02-29T13:56:20","date_gmt":"2016-02-29T12:56:20","guid":{"rendered":"http:\/\/pointblanknews.com\/pbn\/?p=47002"},"modified":"2016-02-29T13:56:20","modified_gmt":"2016-02-29T12:56:20","slug":"fayemis-misappropriation-n852-9m-subeb-fund-costs-ekiti-n2-8bn-ube-fund","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/news\/fayemis-misappropriation-n852-9m-subeb-fund-costs-ekiti-n2-8bn-ube-fund\/","title":{"rendered":"“Fayemi\u2019s misappropriation of N852.9m SUBEB fund costs Ekiti N2.8bn UBE fund “"},"content":{"rendered":"
\nEkiti State Government has said the misappropriation of N852.9 million
\nState Universal Basic Education Board (SUBEB) counterpart fund by the
\nimmediate past \u00a0of Dr Kayode
\nFayemi \u00a0has made the Universal Basic Education Board (UBEC) to blacklist
\nthe State<\/div>\n
<\/div>\n
According to Ekiti state, the fraud has made \u00a0it impossible for the State to access 2013, 2014 and
\n2015 Matching Grant running to over N2.8 billion.<\/p>\n

Last Wednesday, UBEC Deputy Executive Secretary, Dr. Yakubu Gambo told
\nthe Senate Committee on Finance\u2019s Budget Defence that Dr Fayemi, who
\nis now the Minister of Solid Minerals used the N852.9 million
\ncounterpart funds dedicated for education by the federal government
\nthrough the UBEC for other purposes.<\/p>\n

Reacting, the SUBEB Chairman, Senator Bode Ola said it was painful
\nthat Ekiti State and its people were suffering for the sin committed
\nby the APC government of Fayemi, adding that \u201cit is even more
\nembarrassing and ridiculous that Fayemi\u2019s commissioner for Finance,
\nDapo Kolawole could defend this clear criminal act perpetrated against
\nthe people of Ekiti State by saying there was no law forbidding States
\nfrom borrowing counterpart funds to support states capital development
\noperations.\u201d<\/p>\n

Senator Ola said; \u201cA sum of\u00a0 N852, 936,713.92 was paid into the SUBEB
\nAccess Bank account on January 14, 2014 as counterpart fund for 2012
\nUBEC projects and on this premise, UBEC released its Matching Grant of
\nN852, 936,793.12 on January 3, 2013.<\/p>\n

\u201cOn October 8, 2014, eight days to the end of Fayemi\u2019s tenure, the
\nsame amount of N852, 936,713.92 was transferred from the account of
\nSUBEB, leaving a sum of N9, 139,691.40 as credit balance in the
\naccount.<\/p>\n

\u201cThis was done without the knowledge and approval of UBEC and because
\nof this misappropriation, UBEC blacklisted Ekiti State and this has
\nmade it impossible for us to access Matching Grant for 2013, 2014 and
\n2015.<\/p>\n

\u201cUBEC, in a letter dated April 16, 2015, with Reference Number;
\nUBEC\/FA\/SUBEB\/EK\/183\/Vol.II\/162 described the withdrawal as criminal
\nact that violated Section 11(2) of UBE Act 2004 and conveyed its
\nsuspension of Ekiti State from accessing any further FGN-UBE
\nIntervention Fund.<\/p>\n

\u201cFor this reason, all UBEC\/SUBEB 2012 ongoing projects have been
\nhalted, payment for all 2012 projects cannot be made to contractors,
\nfund for special education; teachers capacity building etc for 2013,
\n2014 and 2015 cannot be accessed, infrastructures in our schools are
\nneglected, in fact, SUBEB in Ekiti State is totally grounded!\u201d<\/p>\n

Speaking further, the SUBEB Chairman said; \u201cOur Governor, Ayodele
\nFayose responded to UBEC letter on the illegal withdrawal on April 22,
\n2015, stating that the illegal withdrawal was carried out by Fayemi\u2019s
\nadministration. He also pleaded with UBEC to rescind its decision to
\nsuspend Ekiti State from accessing FGN-UBE Intervention Fund while
\nallowing him to investigate the matter.<\/p>\n

\u201cConsequent upon the Governor\u2019s directive, a 5-Man Panel headed by the
\nOluyin of Iyin-Ekiti, Oba Ademola Ajakaiye was set up and the panel
\nestablished the withdrawal of the N852, 936,713.92 from SUBEB account
\ndomiciled at Access Bank, Ado-Ekiti branch consequent upon which Ekiti
\nState was suspended from accessing FGN-UBE fund and also went further
\nto involve the Economic and Financial Crimes Commission (EFCC) in the
\nmatter if the fund was not returned.<\/p>\n

\u201cReport of the panel has been forwarded to UBEC.\u201d<\/p>\n

While describing Fayemi\u2019s justification of the illegal withdrawal as
\nridiculous, Senator Bode Ola said; \u201cEven UBEC, in its letter said the
\nwithdrawal constitutes a serious financial crime and also violates<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

Ekiti State Government has said the misappropriation of N852.9 million State Universal Basic Education Board (SUBEB) counterpart fund by the immediate past \u00a0of Dr Kayode Fayemi \u00a0has made the Universal…<\/p>\n","protected":false},"author":1,"featured_media":47003,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-47002","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\n"Fayemi\u2019s misappropriation of N852.9m SUBEB fund costs Ekiti N2.8bn UBE fund " - Pointblank News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pointblanknews.com\/pbn\/news\/fayemis-misappropriation-n852-9m-subeb-fund-costs-ekiti-n2-8bn-ube-fund\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\""Fayemi\u2019s misappropriation of N852.9m SUBEB fund costs Ekiti N2.8bn UBE fund " - 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