The pyramid's vision is to finance over three million rice farmers to boost production and improve the country's agriculture value chain.
Ex-governor Kayode Fayemi recently abused and insulted Aare Afe Babalola SAN for not recognising his achievements in Ekiti State. Since Fayemi did not list the achievements, it has become necessary to recall the two projects, which even he is too ashamed to celebrate. Fayemi took billions of Naira in loans to execute two fraudulent projects: the rice pyramid project and the cargo international airport project.
FAYEMI'S 419 RICE PYRAMID SCHEME
On May 19, 2021, Governor Kayode Fayemi launched the "Ekiti Rice Pyramid" in Ado Ekiti State. Former governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele (now on trial for severe economic crimes), was in Ekiti State to flag off the first pyramid in the South West. The pyramid's vision is to finance over three million rice farmers to boost production and improve the country's agriculture value chain.
Billions of Naira were released to the Kayode Fayemi administration for the rice project through the Anchor Borrowers Programme of the Central Bank of Nigeria. Fayemi deceived the guests and the Ekiti people by renting bags of rice to construct the "Rice Pyramid." However, as soon as the launch ended, the Ekiti State Government returned the rented bags of rice to the owners. That was the end of Fayemi's pyramid of lies.
We call on Mr Yemi Cardozo, the Governor of the Central Bank, to recover the billions of Naira collected by former Governor Fayemi for the massive rice production in Ekiti because it was a package of fraud.
FAYEMI'S 419 CARGO INTERNATIONAL AIRPORT
On October 15, 2022, Governor Kayode Fayemi launched the Ekiti State Cargo International Airport at Ado Ekiti. Former Minister of Aviation Sirika and other guests were invited to witness the grand ceremony. Before the commencement of the ceremony, a plane belonging to the Nigerian Air Force landed at the airport.
Fayemi's rented crowd was dressed in special Ankara attire. They sang and danced in the sun while celebrating Fayemi's rare achievement. The visiting Minister and Governor Fayemi delivered speeches. In his speech, Governor Fayemi announced that the Cargo International Airport had been completed. The Aviation Minister commissioned the CARGO International Airport.
Since the inauguration of the new Governor, Biodun Oyebanji, was fixed for the following day ( October 16, 2022), many guests wanted to fly into Ado Ekiti. But they were informed to land at Akure, Ondo State, as the newly commissioned Cargo International Airport still needed to be completed. Some of the governors who attended the inauguration of Governor Biodun Oyebanji ridiculed Fayemi for commissioning an incomplete Airport to embarrass the people of Ekiti State.
The Ekiti State Government has since confirmed that the control tower, passenger terminal and runaway were yet to be fully completed. It has also been confirmed that Fayemi had spent N16.5 billion on the incomplete airport project. The bulk of the N16.5 billion loan was diverted. So Fayemi rented an Air Force jet to give the misleading impression that he had completed the airport. Another 419 project was executed and inaugurated by Kayode Fayemi.
Kayode Fayemi was invited to the EFCC office in Ilorin to explain the fraud that marred the airport project. As he had no explanation, he ran to a court to procure a black market injunction to restrain the Economic and Financial Crimes Commission from investigating and/or charging him with economic and severe financial crimes. Even though Aare Afe Babalola SAN is currently assisting the Ekiti State Government to complete the airport project, Fayemi must pay a substantial part of the loan obtained from commercial banks to build the Cargo International Airport as the loan was criminally diverted.