Fayose says FG has decided to release Ekiti’s N1bn budget fund

Governor of Ekiti State, Ayodele Faysoe, has revealed that the Federal Ministry of Finance has reversed its decision over the N1billion Budget Support Facility for the month of January belonging to the State.

Fayose stated on Friday that he has received official communication from the Federal Ministry of Finance, releasing the State’s allocation.

He said: “I don’t want to join issues with anybody on the allocation; it is a statutory allocation for all the States, I can confirm to you here that by Tuesday next week, I will get the bank alert for the money; an official communication on the release was passed to me just yesterday (Thursday).”
Fayose had accused the Federal Government of planning to cripple the state, over its refusal to pay Ekiti the allocation.
On Thursday, the Ministry said Ekiti State failed to comply with the conditions to get the facility which is a loan by the Federal Government to the states to cushion the impact of revenue shortfall from the federation account.
The statement said the ministry had written to the state government in August last year drawing its attention to the need to comply with the terms of the loans and that the state would be stopped from accessing the facility due to non-compliance‎.