Fayemi discloses panel’s report in alleged N852m SUBEB theft
The Emir of Kano, Alhaji Muhammadu Sanusi II, has declared that the war
against corruption launched by the Federal Government can be won in six months
if there are
appropriate sanctions for offenders and monitoring of corrupt
cases by the media.
The former Governor of the Central Bank of Nigeria (CBN) spoke yesterday
through the Sarkin Shanun Kano, Alhaji Shehu Mohammed, at an
“International Conference on Tax Havens and the Developing World: The
Global Dimension” organised by Centre for General Studies in collaboration with
office of International Programmes, University of Ibadan (UI).
He identified lack of discipline, lack of sanctions, lack of monitoring
and evaluation of corrupt cases as the four major problems aiding high level of
corruption in Nigeria and other developing countries in Africa and Asia in
general.
The emir, who regretted that most companies and individuals who are
supposed to pay taxes in developing countries in Africa and Asia hide under the
guise of tax heaven to avoid payment, noted corruption as the biggest problem
encouraging tax heaven to thrive.
In another development, former Governor of Ekiti State and Minister of
Mines and Steel Development, Dr. Kayode Fayemi, has made available the reports
of a five-man panel set up by Governor Ayo Fayose to investigate his alleged
withdrawal of N852 million UBEC/SUBEB state counterpart fund.
Fayemi said the first panel in its report dated December 3, 2015 showed
that the cash was withdrawn from the account of the State Universal Basic
Education Board (SUBEB) by Access Bank, Ado-Ekiti Branch, because “Fayemi
administration failed to perfect the loan agreements as it neither agreed to
the interest rate nor provide Irrevocable Standing Payment Order (ISPO) for the
loan.”
Meanwhile, it was gathered that the bank agreed to grant the Fayemi
administration the facility after the June 21, 2014 governorship election but
Fayose as the governor-elect warned the bank against granting the facility.
The bank obeyed the governor-elect (Fayose) and the cash was returned to
the vault in a bid to ensure a smooth business relationship with him when he
takes over as governor in October of the same year.
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