Account for The Stolen N16.7 bn IGR, PDP tells Fayemi
The Ekiti State chapter of the Peoples Democratic Party (PDP) has asked former Governor Kayode Fayemi to account for N16.7 billion his administration under declared as Internally-Generated Revenue (IGR) from 2010 to 2014.
party said this has become necessary since Fayemi said his administration was raking in an average of N600 million monthly as IGR and which totals N7.2 billion yearly, while the figures his administration gave to the National Bureau of Statistics,
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the Federal Ministry of Finance, the Office of the Accountant General of the Federation among others did not tally with Fayemi’s claim.
The party spoke in Ado-Ekiti yesterday through the State Chairman, Barrister Gboyega Oguntuase.
“Records in the above offices show that in 2011, the IGR of the state was N2.5 billion which translated to about N207 million monthly. Leaving a balance of N4.7 billion going by Fayemi’s claim. In 2012, it was N3.8 billion which meant it was an average of N306 million monthly and that was the highest figure his administration recorded. It also left a balance of N3.4 billion.
In 2013, it was N2.3 billion an average of N198 million monthly and it left a balance of N4.9 billion. In 2014, it was N3.5 billion an average of N299 million monthly. It left a balance of N3.7 billion. The total balance yet unaccounted for going by Fayemi’s claim is N16.7 billion in four years. The figures for 2012 and 2014 were high because that was when he got the first and second tranche of the N25 billion he borrowed from the Capital Market.
“Since Fayemi is claiming that he raised the IGR to N600 million monthly which should be about N7.2 billion in a year, it means his administration under declared its IGR and he should tell Ekiti people were the remaining funds are. For instance, in 2012, when he recorded the highest figure of N3.8 billion, it meant the sum of N3.4 billion did not reflect.
” Logically, it means that Fayemi under declared the revenue coming to the state. He has many questions to answer from the good people of the state who want to know how their commonwealth is spent. Apart from squandering the bogus allocations, excess crude oil money, grants, other numerous releases, loans obtained from the Capital Market and commercial banks, Fayemi also misappropriated the IGR,” he said.
Oguntuase explained that since the administration of Governor Ayodele Fayose came on board, the IGR so far generated could also be ascertained.
“For the purpose of transparency that the PDP-led government is known for, these are the details. In 2015, we generated N3.3 billion which amounted to an average of N283 monthly. In 2016, it was N2.9 billion an average of N241 million monthly. The year was when the challenge about salary payment was high and our main source of IGR is Pay As You Earn (PAYE) which is deducted from workers salaries.