Fayose Borrowed N56b In Three Years – DMO

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The Debt Management Office (DMO) has come out with the debt profile of Ekiti State within the three years of Governor Ayo Fayose in power.

According to DMO, Fayose has borrowed 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 Debt Management Office (DMO) has come out with the debt profile of Ekiti State within the three years of Governor Ayo Fayose in power.

According to DMO, Fayose has borrowed 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.

 

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