Ekiti Assembly Backs Fayoses N19.6bn Loan Request

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The Ekiti State House of Assembly has approved N19.6bn in loan facilities for the state government.The approval was given aftertwo different letters had been written by the governor, Ayodele Fayose, requesting the house’s consent to access the loans.The approval means the state will access N9.6 billion from Skye Bank on a 9% repayment interest for 20 years and N10 billion from Access Bank with a 9% interest in 20 years.The Leader of the house, Akinyele Olatunji, hasdescribed the governments intention as a good development, saying it would better the lives of Ekiti people.He said the money will be used to settle the backlog of workers’ salaries and enable government put basic amenities in place.  
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