How Fayemi diverted funds meant for UBE

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How Fayemi diverted funds meant for UBE

How Fayemi diverted funds meant for UBE
February 26
14:20 2016

•How Ekiti State under his Government borrowed from UBE funds

It was a stunning revelation at the Senate Committee on Finance’s budget defence, on Thursday, when the management team of Universal Basic Education, explained that the former governor of Ekiti State and Minister of Solid Minerals Dr. KayodeFayemi had borrowed counterpart funds dedicated for education by the federal government through the Universal Basic Education Commission for other purposes.

The revelation was triggered by question put to the Deputy Executive Secretary of the Commission, Dr. YakubuGambo by a member of the Committee, Senator Adekola Solomon Olamilekan (APC) representing Lagos West Senatorial District.

“It is observed by this Committee that some State Governors divert money meant for executing school infrastructure which was provided by the federal government through UBEC How true is it?” Olamilekan asked.

Gambo confirmed that some governors across the State do tamper with UBE funds by diverting it to other projects not captured within educational framework.

He admitted that such situations had become huge challenge that required amendment of the Act.

He cited Ekiti State as a case study, explaining that during the administration of Dr. FayemiKayode, Ekiti State instead of releasing its own counterpart funds so as to draw down the funds, borrowed from its UBEC’s account without the consent of the agency.

He added that the affected Bank having realised that Fayemi may not come back in 2014 Ekiti elections, decided to withhold UBEC’s deposit.

“You see Mr. Chairman, the idea of Ekiti State government going to the Bank to borrow from UBE funds was not with the consent of our agency and the Bank has withheld the money to avoid problems with the new Governor and as I speak with you, they have not accessed their funds yet”, Gambo maintained.

Meanwhile the Committee Chairman, Senator John OwanEnoh has advised the Commission to strategize for revenue generation so as to mitigate huge expenditure on education by Federal Government, noting that the Senate was ready to assist the Commission in view of its importance in the sector.

“In the spirit of change mantra, the Commission would not only be expending money, but be ready to generate funds”, Owan stated.

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