News

Fayemi on spending spree after winning primary

Published

8 years ago

May 31, 2018

Buys N1.2bn mansion

The immediate past Minister of Solid Minerals Development and All Progressives Congress (APC) candidate in the coming Ekiti State Governorship election has bought an expensive mansion at the GRA, Ikeja, Lagos, weeks after securing his party’s ticket, National Daily investigation has revealed.

According to findings by National Daily, the property put at a staggering N1.2bn was formerly owned by Mr. Tayo Ayeni, Chairman of Skymit Motors and is located at Tayo Ayeni Street, bounded by Oduduwa Crescent and Ladipo Bateye Street

A source told National Daily that negotiation on the property actually started before the former minister nipped the APC governorship. He however, concluded the deal and moved into the property the very week he won the primary election.

Sources revealed that Fayemi bought his new property from funds he received from friends of President Muhammadu Buhari to aid his governorship campaign.

Two leading Nigerian businessmen of northern extraction were said to have given him substantial amount of money to prosecute the election campaign. One gave him N2 billion, while the other doled out $5 million.

One of the sources, a prominent aide of the APC candidate said he is comfortable buying the property since he had been assured of more funds as the election approaches.

According to findings by National Daily, a budget of N25 billion was reportedly presented to President Buhari by Fayemi to prosecute the July 14 election.

The Minister was seen driving into the palatial house at exactly 5.56pm on Friday, May 18, 2018 with his security aides. He wore a black kaftan with his trademark cap.

This building is about 500 yards from the Ekiti Liaison Office on Oduduwa Crescent, which has turned into an abandoned property for more than five years.

It would be recalled that during his tenure as Ekiti governor, Fayemi secured a N25 billion bond which his government stated was for the development of infrastructure in Ekiti. N2.5 billion out of the bond was earmarked for the building of the Liaison Office.

Despite the fact that the Ekiti building was not completed, Fayemi, immediately after leaving office as governor, bought a property on the same Oduduwa crescent which he used as both office and home, before acquiring the new house.

No 58, Oduduwa Crescent is on the upper part of the street. It contains a twin duplex. While one serves as office for both Fayemi and his wife, the other serves as residence. He still had a meeting with a team of selected journalists and editors at the office last Friday evening.