Access Bank withdrew Ekiti N852m SUBEB fund, witness tells panel

By Doyin Adebusuyi, Ado Ekiti | Publish Date: Sep 12 2017 6:52PMThe branch manager of Ado Ekiti branch of Access Bank, Kayode Adejuyigbe, on Tuesday told a panel that the controversial N852 million Universal Basic Education (UBE) fund was withdrawn by his bank.

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The branch manager of Ado Ekiti branch of Access Bank, Kayode Adejuyigbe, on Tuesday told a panel that the controversial N852 million Universal Basic Education (UBE) fund was withdrawn by his bank.

The panel, led by retired Justice Silas Oyewole-led panel is investigating the finances of the state between October 2010 and October 2014 when former Governor Kayode Fayemi was in power.

Adejuyigbe, a witness in the ongoing trial, said the bank took the decision to withdraw the N852 million counterpart fund because the state government did not fulfil some terms in the loan.

The cash, which was a counterpart fund to finance projects being carried out by the state government through the SUBEB, has been a subject of controversy between former governor Fayemi and the government of Mr Ayodele Fayose.

Fayose administration has consistently accused the Fayemi-led administration of embezzling the cash but Fayemi and his aide had cinsistently denied the claim.

Adejuyigbe told the panel that the bank paid N71 million as refund of excess interest charged on fund into the account of the state government.

He alleged that the refund was demanded by the Fayose administration.

Led in evidence by Access Bank counsel, Mr. Olufemi Abiola, Adejuyigbe revealed that the Office of the Accountant General acknowledged receipt of the refund.

An Assistant Director of Finance and Account of the Universal Basic Education Commission (UBEC), Mr. Adamu Misau, told the panel that Fayose wrote a letter dated 22 April 2015 urging UBEC to investigate the matter and that the agency should rescind its decision to stop Ekiti from further accessing the funds.

The UBEC official read to the hearing of the panel contents of his witness statement on oath relevance to the evidence he gave at the hearing.

A witness from Tianjing Yuyang Construction Engineering Limited, Kingsley Imonike, who also appeared before the panel,  said he was not aware that Ekiti State government took a bond from the Capital Market to finance the construction of an ultramodern Civic Centre in Ado-Ekiti.

Imonike who was led in evidence by counsel to the company, Uche Abonyin,  tendered documents including letter of the award of the contract and his witness statement on oath.

Daily trust

Post Author: Hassan Usman

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