Fayose Pardons 31 Erring Civil Servants | Independent Newspapers Limited
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Fayose Pardons 31 Erring Civil Servants

Posted: Sep 3, 2015 at 12:00 am   /   by   /   comments (0)

Ekiti State Governor, Ayo Fayose, has pardoned the 31 workers caught coming late to work on Monday, just as he held a meeting with public servants to discuss whether the state should take the bailout funds being planned for states by the Federal Government.

Governor Ayodele Fayose

Governor Ayodele Fayose

Speaking at the meeting in Ado-Ekiti, on Wednesday, the governor also expressed reservations about the bailout funds, saying it would aggravate the debt profile of the state.

According to him, even with the 9 per cent interest on the fund, rolling it over with the debts and commitments the state already had would be too burdensome.

“They say they are restructuring N18.8 billion of our commercial loans and with the 9 per cent interest, by the time the money is repaid in 20 years, we would have paid an extra N36 billion as interest. That means the N18 billion would have become N56 billion.

“I am addressing you on the issue so that before I commit the state to taking the loan, I have to get your permission.”