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State Auditor's General's Report for year 2015

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State Auditor's General's Report for year 2015

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State Auditor's General's Report for year 2015

  1. 1. 1 EKITI STATE GOVERNMENT OF NIGERIA REPORT OF THE AUDITOR-GENERAL ON THE ACCOUNTS OF THE GOVERNMENT OF EKITI STATE OF NIGERIA FOR THE YEAR ENDED 31ST DECEMBER, 2015.
  2. 2. 2 1.0 INTRODUCTION The Accounts of the Government of Ekiti State, Nigeria for the year ended 31st December, 2015 have been audited under my direction in accordance with section 125 (2) of the Constitution of the Federal Republic of Nigeria, 1999 (as amended) and Section 26 (2) of Ekiti State Audit Law (No 11) of 2014. 1.1 RESPONSIBILITY OF THE ACCOUNTANT-GENERAL. In accordance with the provisions of Finance Control and Management Act, 1958 and Section 02001 of Financial Administration, the Accountant-General is the Chief Accounts Officer for the receipts and payment of Government of Ekiti State. It is the responsibility of the Accountant-General to establish and maintain an adequate system of Internal Controls, designed to provide reasonable assurance that the transactions recorded are within statutory authority, properly record the use of public financial resources by the Government and to ensure that the Financial Statements fairly reflect the true financial position of Government and its operations in accordance with the provisions of above stated Act. 1.2 RESPONSIBILITY OF THE AUDITOR-GENERAL The responsibility of the Auditor-General is to express an independent opinion on the Financial Statements of the State as prepared by the Accountant-General based on his audit in compliance with Section 125 (2) of the Constitution of the Federal Republic of Nigeria, 1999 (as amended) and Section 26 (2) of Ekiti State Audit Law (No 11) of 2014. An audit in this context involves the examination on a test basis, of evidence relevant to the amounts and disclosures in the Financial Statements prepared by the Accountant-General. It also includes an assessment of the significant estimates and judgments made in the preparation of the Financial Statements and whether the accounting policies are appropriate to Government circumstances, consistently applied and adequately disclosed.
  3. 3. 3 1.3 RESPONSIBILITY OF THE PUBLIC ACCOUNTS COMMITTEE It is the responsibility of the Public Accounts Committee of the House of Assembly to review the Auditor-General‘s Report with a view to ensuring enforcement of the recommendations made therein and impose sanctions where appropriate. 1.4 AUDITOR-GENERAL’S REPORT/AUDIT CERTIFICATE. I have audited the Accounts of the Government of Ekiti State of Nigeria as at 31st December, 2015 as set out in Annexure I containing Ekiti State Financial Statements in accordance with Section 125 (2) of the Constitution of the Federal Republic of Nigeria 1999 (as amended) and Section 26 (2) of Ekiti State Audit Law (No 11) of 2014. BASIS OF OPINION: The Audit was conducted in accordance with International Standards on Auditing and Generally Accepted Public Sector and INTOSAI Auditing Standards. These standards require that I comply with ethical requirements, plan and perform the audit to obtain reasonable assurance that the Financial Statements are free from material misstatements whether due to fraud or error. I also evaluated the overall adequacy of the presentation of information in the Financial Statements. In the course of the Audit, I have obtained all the information and explanation that to the best of my knowledge and belief were necessary for the purpose of the audit and I believe that the audit evidence I obtained is sufficient and appropriate to provide a basis for independent opinion. The preparation and presentation of the Financial Statements contravened circular No TRY/A48BA/2013/OAGF/CAD/026/Vol.1/190 of May, 2013 as the Financial Statements were not IPSAS compliant.
  4. 4. 4 OPINION: In my opinion the Financial Statements which include Cash flow Statements, Statement of Assets and Liabilities as at 31st December, 2015, the Consolidated Revenue Fund and Capital Development Fund with supporting Notes, give a true and fair view of the state of affairs and financial position of the Government of Ekiti State for the fiscal year ended on that date subject to the observations and comments in the other parts of this report. Daniel A. Kayode (FCNA,FCFIP,ACTI) Auditor-General, Ekiti-State.
  5. 5. 5 2.0 APPRAISAL OF THE YEAR’S BUDGET PERFORMANCE. The revenue projection for year 2015 was Eighty Billion, Seven Hundred and Eighty Four Million, and Thirty Two Thousand, Eight Hundred and Sixty Seven Naira and Thirty Seven Kobo (N80,784,032,867.37) only and the expenditure proposed for the period was Eighty Billion, Six Hundred and Nine Million, and Thirty Two Thousand, Eight Hundred and Sixty Seven Naira and Thirty Seven Kobo (N80,609,032,867.37) only. The budget as passed by the House of Assembly was supposed to be a balanced budget with a revenue and expenditure projection of N80,784,032,867.37. However, it was discovered by Audit that the details of capital expenditure for Social Services Sector when added up amounted to N3,692,514,656.38 as against N3,867,514,656.38 stated in the budget for the sector as published by Ministry of Budget, Economic Planning and Service Delivery thereby reducing the budgeted total expenditure to N80,609,032,867.37 from N80,784,032,867.37 approved. The actual revenue for the year under review was N76,155,576,906.01 and the actual expenditure was N75,538,752,131.82 with a resultant aggregate surplus of N616,824,774.19. The revenue and expenditure achieved a performance level of 94.27% and 93.71% respectively in the year. 2.1 RECOMMENDATION: - Enough care should be taken in future to ensure the correctness of the budget before its release for public use. The whole should be equal to the sum of its parts. 2.2 REVENUE PROFILE AT A GLANCE ESTIMATE 2015 N ACTUAL 2015 N PERFORMANCE % RECURRENT RECEIPTS Statutory Allocation 30,948,303,542.35 25,166,811,012.07 81.32 VAT 6,660,360,510.48 7,217,080,422.81 108.36 IGR 9,465,427,095.47 8,392,498,525.71 88.66 Other Recurrent Receipt 9,646,445,342.76 3,690,547,983.12 38.26 SUB TOTAL 56,720,536,491.06 44,466,937,943.71 78.40
  6. 6. 6 CAPITAL RECEIPTS 17,219,953,944.55 31,688,638,962.30 184.02 Transfers from 2014 to 2015 6,843,542,431.76 - - TOTAL 80,784,032,867.37 76,155,576,906.01 94.27 SOURCES: - Financial Report of Accountant-General, Ekiti-State for the year ended 31st December, 2015. 2.3 RECURRENT REVENUE BUDGET: From the above analysis, the sum of N56,720,536,491.06 which represents 70.20% of the total estimated Receipts was expected from Recurrent receipts and a sum of N17,219,953,944.55 representing 21.30% was anticipated from Capital receipts. The actual Recurrent receipts for the year under review was N44,466,937,943.71. This represents 78.40% performance level and a recurrent revenue variance of 21.60% which is slightly lower than year 2014 variance of 24.48%. Further analysis of the actual Recurrent revenue budget of N44,466,937,943.71 as stated above showed that the Statutory Allocation recorded a budget performance of 81.32% and a variance of 18.68% while VAT recorded 8.36% increase above the budgeted figure. The Internally Generated Revenue recorded 88.66% budget performance and other Recurrent Receipts had 38.26% level of performance. 2.4 RECOMMENDATION:- The budget was observed to be more realistic in its projections in consonance with earlier recommendations made in the previous Auditor-General’s Reports. The practice should be sustained as budget based on unrealistic revenue projections is dead on arrival with a grave consequence of derailment of developmental programmes planned for implementation. 2.5 CAPITAL RECEIPTS The actual Capital Receipts recorded in year 2015 was N31,688,638,962.30 as against N17,219,953,944.55 projected translating to 184.02% performance. This was a sharp increase when compared with 78.02% attained in the preceding year. This incredible performance was largely due to the receipts of Bailout Fund and FGN Bond loans totalling N28,433,408,546.52 representing 90% of Actual Capital receipts which was not budgeted for, as only the sum of
  7. 7. 7 N10,000,000,000.00 was projected in the year as Internal Loan component of Capital Receipt Budget. Though, the two loans were approved by the House of Assembly, Audit is of the opinion that a supplementary budget ought to have been raised and passed so that the amount could be reflected in the State budget. This should be noted for future reference. The sum of N6,843,542,431.76 expected to be transferred from 2014 to 2015 was a deceptive gimmick used to Jack up the Capital Receipts as the projection had no financial base. 2.6 RECOMMENDATION:-There is need to develop an investments strategy capable of boosting the Capital Receipt for rapid economic growth and development. 2.7 ACTUAL REVENUE COMPARISON BETWEEN 2014 AND 2015. S/N REVENUE ACTUAL 2014 N ACTUAL 2015 N DIFFERENCE N PERCENTAGE DIFFERENCE % 1 Statutory Allocation 34,409,670,309.05 25,166,811,012.07 (9,242,859,296.98) (26.87) 2 Value Added Tax 7,400,855,934.44 7,217,080,422.81 (183,775,511.63) ( 2.49) 3 Excess Crude Oil 202,114,516.62 85,679,741.75 (116,434,774.87) (57.61) 4 Other statutory Receipts 4,819,164,371.01 3,604,868,241.37 (1,214,296,129.64) (25.20) 5 Ecological Fund 2,000,000,000.00 - (2,000,000,000.00) (100) 6 IGR 7,327,233,743.73 8,391,651,489.64 1,064,417,745.91 14.53 7 Other Receipts 2,315,190,420.55 2,705,737,050.37 390,546,629.82 16.87 8 Internal Loan 13,604,212,740.48 28,982,901,911.92 15,378,689,171.44 113.05 9 Sundry Receipts 11.574.55 847,036.07 835,461.52 7218 TOTAL 72,078,453,610.43 76,155,576,906.00 4,077,123,295.57 5.66 SOURCES:- Financial Report of Accountant-General, Ekiti-State for the year ended 31st December, 2015. From the above analysis, there was a remarkable decrease in Statutory Allocation from N34,409,670,309.05 in year 2014 to N25,166,811,012.07 in year 2015. This caused 26.87% decrease, the first of such decrease in the last 5 years. The Value Added Tax had a slight decrease of 2.49% as receipt from this Revenue Head fell by N183,775,511.63 in year 2015 when compared with 2014
  8. 8. 8 figure. Excess Crude Oil decreased by 57.61%, Other Statutory Receipts by 25.20% and Ecological Fund by 100% as nothing was released to the State on this revenue component in year 2015. On the aggregate, the amount received by the State from the Federation Account in year 2015 reduced by N12,757,365,713.12 which was 26.13% decrease when compared with the previous year. The decrease definitely had negative impact on the economy of the State as most of her statutory obligations expected to be fulfilled could not be met. The Internally Generated Revenue increased by N1,064,417,745.00 in year 2015 representing 14.53% over corresponding period of 2014. It is worthy of note that the increase was not due to increased efficiency of the State Revenue Agency but largely to increase in IGR of Tertiary Institutions by N759,569,823.99 in year 2015 and the sum of N697,954,183.25 which was arrears of 2014 PAYE paid in 2015. The two sums when added together amounted to N1,457,524,007.54. There is need to reposition the State Revenue Agency for greater efficiency in the face of dwindling revenue from the centre due to slump in crude oil prices. In the same vein, Other Receipts had an increase of 16.87% when compared with the previous year. The only revenue component captured as Sundry Receipts was Repayment of Wema Shares Loan which rose from N11,574.55 in year 2014 to N847,036.07 in the year 2015. The Internal Loan had a remarkable increase of 113.05% from year 2014 figure of N13,604,212,740.48 to N28,982,901,911.92 in year 2015. However, the 2015 figure was made up of the sums of (i) N549,493,365.41 procured from commercial banks (ii) N9,604,430,000.00 as Bailout Fund for the payment of arrears of salaries and deductions to the State workers and (iii) N18,828,978,546.52 as FGN Bond for the settlement of all outstanding Commercial bank loans just to reduce the debt burden which weigh heavily on the State purse as this Bond is now made repayable over a long period of time. There were sources which performed far below expectations and some sources from which revenue was not anticipated but which recorded tangible revenue. However, the following were the sources from which revenue were received without expectation:
  9. 9. 9 2.8 REVENUE RECEIVED NOT CAPTURED IN YEAR 2015 BUDGET. S/N REVENUE SOURCES BUDGETED AMOUNT ACTUAL RECEIPT ₦ : k 1 Community Development levy - 49,387,717.38 2 Tax Audit Liability - 121,630,160.55 3 Legal Fees - 32,774,361.13 4 Dividends - 31,702,213.65 TOTAL - 235,494,452.71 SOURCES: Financial Reports of the Accountant-General, Ekiti-State for the year ended 31st December, 2015. The previous Auditor-General’s Reports had made reference to this issue of Revenue received which were not captured in the budgets. The advice given that they should be captured by subsequent budget estimates was not heeded. The Ministry of Budget, Economic Planning and Service Delivery should as a matter of necessity include all these areas of revenue sources in the year 2016 budget estimate for effective coverage of the year’s revenues. 2.9 PIE CHART 3 The chart above depicts the revenue profile of the State for the period under review. As revealed by the chart, 3.55% of the total revenue was from foreign loan obtained while 38.06% represent internal loan. The Internally Generated Revenue contributed 11.02% of the total revenue in the year. However, the income of the 47.37% 38.06% 11.02% 3.55% Analysis of 2015 Total Revenue Revenue from Federal Government Internal Loan Internally Generated Revenue Foreign Loan
  10. 10. 10 State Government from the Federation Account reduced significantly to 47.37% of the total revenue compared to 70.69% in 2013 and 67.75% in 2014. The past Auditor-General’s Reports had reiterated the risks associated with over reliance of the State on Federation Account for her revenue. Now, with oil prices in free fall, the revenue of the State would appear to be in precarious position where it was increasingly becoming difficult to meet statutory obligations and carry out developmental programmes as earlier predicted. 2.9.1 RECOMMENDATIONS (a) New revenue sources should be identified in other to broaden the revenue base of the State Government. (b) The recent slide in oil revenue is a clear warning for an urgent need to step up new investments in Agriculture and Agro-Allied activities where the State has one of the biggest opportunities. (c) Bold initiatives have to be put in place to secure the economic future of the State rather than looking for only short term solution that will ameliorate the present conditions. (d) The State Government should showcase the economic potential of the State to the whole world by organising economic summit to attract both private and foreign investors to the State. (e) The pilfering going on around the State Internally Generated Revenue should be stopped. 3.00 THE EXPENDITURE PROFILE FOR 2015 EXPENDITURE ESTIMATE 2015 ₦ : k ACTUAL 2015 ₦ : k PERFORMANCE % Recurrent Expenditure 50,698,884,704.10 68,516,722,399.30 135.14 Capital Expenditure 29,910,148,163.27 7,022,029,732.52 23.48 TOTAL 80,609,032,867.37 75,538,752,131.82 93.71 SOURCES: Financial Reports of the Accountant-General, Ekiti State for the year ended 31st December, 2015.
  11. 11. 11 From the above table, the aggregate expenditure proposed in the year under review was N80,609,032,867.37 as against N103,882,393,433.00 projected in the year 2014 thus resulting to a significant decrease of 22.40% below the previous year’s budget. The performance was 93.71% as against 66.01% in year 2014. The expenditure budget was not over-ambitious and it appears more realistic though lower than last year figure. 3.1 RECURRENT EXPENDITURE The recurrent expenditure budget for the year was N50,698,884,704.10 representing 62.90% of total expenditure budget. However, actual recurrent expenditure incurred in the year was N68,516,722,399.30 representing 135.14% of the budgeted figure and resulting in an excess recurrent expenditure of N17,817,837,695.20. It was observed that the actual recurrent expenditure was 90% of total revenue collected for the year 2015 despite the fact that November and December, 2015 salaries and pensions were in areas as at 31ST December, 2015. 3.2 ACTUAL RECURRENT EXPENDITURE COMPARISON BETWEEN 2014 AND 2015. S/N ITEM OF EXPENDITURE ACTUAL 2014 N ACTUAL 2015 N DIFFERENCE N % DIFFERENCE 1 Personnel Cost 14,035,110,656.52 18,265,052,358.20 4,229,941,701.68 30.14 2 Pension & Gratuity 2,280,943,710.24 3,030,220,824.28 749,277,114.04 32.85 3 Overhead Cost 2,835,452,991.78 1,524,483,459.38 (1,310,969,532.40) (46.00) 4 Transfer to other funds 8,266,301,196.25 4,083,570,710.01 (4,182,730,486.24) (50.60) 5 Grants to Parastatals &Tertiary Institutions 11,476,738,503.99 12,853,656,398.95 1,376,917,894.96 12.00 6 Expenditure of General Nature 3,260,998,694.31 2,933,949,905.52 (327,048,788.79) (10.03) 7 Public Debt Charges 192,727,247.36 167,500,000.00 (25,227,247.36) (13.09) 8 Repayment of Loans- Foreign 295,730,580.48 377,746,192.39 82,015,611.91 27.73 Local Bank 4,363,490,081.11 19,193,695,721.47 14,830,205,640.36 339.87 Bond 5,995,858,696.06 5,995,857,692.12 (1,003.94) 0.00
  12. 12. 12 FGN Bond - 46,952,073.92 46,952,073.92 100 Bailout - 44,037,063.06 44,037,063.06 100 TOTAL 53,003,352,358.10 68,516,722,399.30 15,513,370,041.20 29.27 SOURCES:- Financial Reports of the Accountant-General, Ekiti State for the year ended 31st December, 2015. On the aggregate, the Recurrent Expenditure for the year 2015 increased sharply by N15,513,370,041.20 representing 29.27% over corresponding period of 2014 which had a recurrent expenditure outflow of N53,003,352,358.10 as depicted in the table above. The disparity was largely due to payment of outstanding salaries, leave bonus, deductions and subventions owed to workers and Institutions in the State by the last administration through CBN bailout Loan and the settlement of all outstanding loans to Commercial banks through the FGN Bond to reduce the debt burden on the state purse by elongation of repayment period. 3.3 SECTORAL PERFORMANCE: The over-all indices of the recurrent expenditure can best be demonstrated with the use of sectoral analysis to show the effective and efficient implementation of the year’s budget. 3.3.1 SECTORAL ANALYSIS OF RECURRENT EXPENDITURE (OVERHEAD COST) S/N SECTOR BUDGET N ACTUAL N PERFORMANCE % 1 Administration sector 1,972,522,773.02 1,300,050,944.66 65.91 2 Economic Sector 341,005,683.64 152,604,637.32 44.75 3 Law and Justice Sector 89,962,587.43 2,650,000.00 2.95 4 Regional Sector 2,871,941.21 900,000.00 31.34 5 Social Sector 114,391,901.92 68,277,877.40 59.69 TOTAL 2,520,754,887.22 1,524,483,459.38 60.48 SOURCES: - Financial Reports of the Accountant-General, Ekiti-State for the year ended 31st December, 2015.
  13. 13. 13 The performance of the recurrent expenditure based on the above sectoral analysis indicates that adequate attention would appear not to have been given to the sectors. The overall percentage performance for the current year of 60.48% was higher than 48.63% recorded in the year 2014. But in terms of actual aggregate expenditure on the sectors, there had been a continuous fall for the past three years. It was N3,622,071,041.29 in 2012, N3,241,490,762.34 in 2013, N2,835,452,991.78 in 2014 and N1,524,483,459.38 in 2015 translating to 57.91% reduction when compared with 2012 figure. Adequate attention should be paid to these sectors by the Government because their services are crucial in the discharge of Government activities for the attainment of the desired social, political and economic goals. 3.4 CAPITAL EXPENDITURE BUDGET 2015 N ACTUAL 2015 N PERFORMANCE % Capital Expenditure 29,910,148,163.27 7,022,029,732.52 23.48 TOTAL 29,910,148,163.27 7,022,029,732.52 23.48 SOURCES: Financial Reports of the Accountant-General, Ekiti-State for the year ended 31st December, 2015. The sum of N29,910,148,163.27 which represented 37.11% of the aggregate budgeted expenditure was allocated for capital expenditure in the year under review. However, a sum of N7,022,029,732.52 representing 23.48% of the budgeted figure and 9.22% of actual revenue for the year was actually released and spent. The actual Capital Expenditure was far below average and this should be discouraged as this quantum of capital expenditure is inimical for rapid growth and development of the State. For the sake of the users of this report, it must be noted here that the actual capital receipt of N31,688, 638,962.30 for the current year was inclusive of the sums of N9,604,340,000.00 bailout fund and N18,828,978,546.52 FGN Bond which were not intended for execution of capital projects.
  14. 14. 14 For clarity of the spread of actual capital expenditure incurred, below is the sectoral analysis. 3.4.1 CAPITAL EXPENDITURE PERFORMANCE ON SECTORAL BASIS FOR 2015. S/N SECTOR BUDGET N ACTUAL N PERFORMANCE % 1 ADMINISTRATION SECTOR Administration Sector 4,020,600,000.00 380,046,036.33 9.46 2 ECONOMIC SECTOR Agriculture, Emergency, Infrastructure, Lands and Housing 18,867,482,907.48 2,036,487,600.19 10.79 3 LAW AND JUSTICE SECTOR Law and Justice Sector 285,734,555.30 - - 4 REGIONAL SECTOR Regional Sector 5,000,000.00 - - 5 SOCIAL SECTOR Education, Health, Information and Environments. 6,731,330,700.59 4,605,496,096.00 68.42 TOTAL 29,910,148,163.27 7,022,029,732.52 23.48 SOURCES:- Financial Reports of the Accountant-General, Ekiti State for the year ended 31st December, 2015. It could be deduced from above that overall performance of capital expenditure of 23.48% reduced drastically when compared with 35% for year 2014. Only the Social sector had 68.42% of performance level. Administration and Economic Sectors had 9.46% and 10.79% respectively. Both Law and Justice and Regional Sectors did not receive any fund for capital expenditure in the year under review. Government is urged to improve tremendously by paying particular attention to all these sectors so as to boost the overall infrastructural development of the State with inherent potentials of job creation, poverty reduction and revenue generation. 3.5 OBSERVATIONS ON FUND DISTRIBUTION TO MINISTRIES, DEPARTMENTS AND AGENCIES: Audit examinations during the year under review revealed that both capital and recurrent expenditure were not distributed as budgeted. Some Ministries,
  15. 15. 15 Departments and Agencies were starved of fund to execute some of the laudable programmes included in the year’s budget and therefore could not contribute efficiently and effectively towards the growth and development of the State. However, some were able to access over and above their budgetary provisions. 3.5.1 MDAS WITH ABYSMALLY LOW EXPENDITURE PROFILE OVERHEAD COST S/N HEAD MINISTRY/DEPARTMENT/ AGENCY BUDGET 2015 N ACTUAL 2015 N BUDGET VARIANCE N PERFORMANCE % 1 459-2200 HOUSE OF ASSEMBLY SERVICE COMMISSION 40,000,000.00 6,000,000.00 34,000,000.00 15.00 2 459-0600 OFFICE OF THE HEAD OF SERVICE 22,068,188.54 3,960,460.00 18,107,728.54 17.95 3 459-2400 STAFF DEVELOPMENT CENTRE [ESTAB] 636,582.36 100,000.00 536,582.36 15.71 4 459-4600 CIVIL SERVICE TRANSFORMATION 20,438,824.12 1,680,000.00 18,758,824.12 8.22 5 458-08900 FORESTRY DEPARTMENT 1,500,000.00 256,000.00 1,244,000.00 17.07 6 453-0403 DEBT MANAGEMENT OFFICE 6,365,823.62 1,220,000.00 5,145,823.62 19.16 7 459-3602 MAIN ACCOUNT AND MANAGEMENT SERVICES 636,582.36 120,000.00 516,582.36 18.85 8 459-3601 CENTRAL PAY OFFICE 1,000,000.00 120,000.00 880,000.00 12.00 9 459-3603 PROJECT FINANCE MANAGEMENT UNIT[PFMU] 1,527,797.67 101,381.68 1,426,415.99 6.64 10 459-3101 MULTILATERAL DEPARTMENT 4,243,882.41 400,000.00 3,843,882.41 9.43 11 459-3500 STATE GOVERNANCE AND CAPACITY BUILDING 2,574,127,12 240,000.00 2,334,127.12 9.32 12 459-5601 EKITI STATE MINERAL RESOURCES DEVELOPMENT AGENCY 5,000,000.00 200,000.00 4,800,000.OO 4.00 13 458-0500 OFFICE OF SURVEYOR-GENERAL OF THE STATE 4,092,658.90 690,000.00 3,402,658.90 16.86 14 459-3103 DEVELOPMENT PLANNING AND STRATEGY COMMITTEE[MB&EP] 5,000,000.00 281,250.00 4,718,750.00 5.63 15 459-3200 BUREAU OF STATISTICS 7,958,482.51 1,400.000.00 6,558,482.51 17.59 16 459-0100 MINISTRY OF JUSTICE 30,000,000.00 2,450,000.00 27,550,000.00 8.17 17 459-5603 OFFICE OF PUBLIC DEFENDER 3,000,000.00 200,000.00 2,800.000.00 6.67 18 459-4401 SERVE-EKS STEERING COMMITTEE 750,000.00 100,000.00 650,000.00 13.33 19 457-0700 WOMEN DEVELOPMENT CENTRE, IGEDE-EKITI [WOMEN AFFAIRS] 750,000.00 67,500.00 682,500.00 9.00 20 455-0500 BOARD FOR TECHNICAL AND VOCATIONAL EDUCATION 3,000,000.00 400,000.00 2,600,000.00 13.33 21 456-0601 RUNNING GRANT TO SECONDARY HEALTH FACILITIES[HMB] 15,000,000.00 1,600,000.00 13,400,000,00 10.67
  16. 16. 16 GRANTS TO PARASTATALS AND TERTIARY INSTITUTIONS S/N HEAD MINISTRY/DEPARTMENT/AGENCY BUDGET 2015 N ACTUAL 2015 N BUDGET VARIANCE N PERFORMANCE % N 1 459-2700 EKITI STATE LOCAL GOVERNMENT SERVICE COMMISSION 14,589,230.35 961,979.50 13,727,250.85 6.55 CAPITAL RELEASES TO MINISTRIES/DEPARTMENTS/AGENCIES S/N HEAD MINISTRY/DEPARTMENT/ AGENCY BUDGET 2015 N ACTUAL 2015 N BUDGET VARIANCE N PERFORMANCE % 1 459-0700 BUREAU OF PUBLIC PROCUREMENT (BPP) 60,000,000.00 1,050,000.00 58,950,000.00 1.75 2 459-1600 GOVERNMENT HOUSE AND PROTOCOL 1,200,000,000.00 93,284,193.60 1,106,715,806.40 7.77 3 459-2100 HOUSE OF ASSEMBLY 100,000,000.00 6,792,842.73 93,207,159.27 6.79 4 457-0100 MINISTRY OF YOUTH AND SPORTS DEVELOPMENT 60,000,000.00 10,180,000.00 49,820,000.00 16.97 5 451-0100 MINISTRY OF AGRICULTURE AND RURAL DEVELOPMENT 555,396,000.00 1,000,000.00 554,396,000.00 0.18 6 459-3600 OFFICE OF ACCOUNTANT GENERAL 125,000,000.00 534,450.00 124,465,550.00 0.43 7 459-3800 INTERNAL REVENUE SERVICE 147,600,000.00 2,850,000.00 144,750,000.00 1.93 8 454-0700 BUREAU OF COMMUNICATION, TECHNOLOGY AND SOCIAL MEDIA 280,000,000.00 5,000,000.00 275,000,000.00 1.79 9 454-0600 EKITI STATE ELECTRICITY BOARD 180,000,000.00 2,880,229.65 177,199,770.35 0.02 10 458-0500 OFFICE OF SURVEYOR- GENERAL OF THE STATE 70,000,000.00 150,000.00 69,850,000.00 0.21 11 459-3100 BUDGET AND ECONOMIC PLANNING[MIN.OF BUDGET] 1,232,700,000.00 11,200,000.00 1,221,500,000,00 0.91 12 454-0800 EKITI STATE WATER CORPORATION 587,000,000.00 42,152,587.81 544,847,412.19 7.18 13 454-0100 MINISTRY OF LAND,HOUSING AND URBAN DEVELOPMENT 800,000,000.00 157,696,431.49 642,303,568.51 19.71 14 458-0600 URBAN RENEWAL AGENCY[CAPITAL URBAN DEVELOPMENT AUTHORITY 265,000,000.00 33,713,612.40 231,286,387.60 12.72 15 457-0600 MINISTRY OF WOMEN AFFAIRS, GENDER EMPOWERMENT & SOCIAL WELFARE 200,000,000.00 2,661,650.00 197,338,350.00 1.33 16 455-0100 MINISTRY OF EDUCATION, SCIENCE AND TECHNOLOGY 207,598,552.38 1,146,800.00 206,451,752.38 0.55
  17. 17. 17 3.5.2 MDAS WITH BUDGETARY PROVISION WITHOUT ANY RELEASES THROUGHOUT THE YEAR OVERHEAD COST S/N HEAD MINISTRY/DEPARTMENT/AGENCY BUDGET 2015 N ACTUAL 2015 N BUDGET VARIANCE N PERFORMANCE % 1 459-1605 OFFICE OF THE SPECIAL ADVISER,SENIOR SPECIAL ASSISTANTS AND SPECIAL ASSISTANTS TO THE GOVERNOR 1,273,164.73 - 1,273,164.73 - 2 459-0411 OFFICE OF SPECIAL ASSISTANT[COPORATE MEDIA] 1,000,000.00 - 1,000,000.00 - 3 459-0401 OFFICE OF SPECIAL ASSISTANT[SPECIAL PROJECTS] 500,000.00 - 500,000.00 - 4 459-0408 SENIOR SPECIAL ADVISER INTERGOVERMENTAL RELATION[P&E] 1,273,164.73 - 1,273,164.73 - 5 459-2001 ADVOCACY MEETING[INTEGRATION&INTERGOVMENTAL RELATION] [P&E] 6,365,823.62 - 6,365,823.62 - 6 459-5106 POLICY AND STRATEGY [P&E] 3,250,000.00 - 3,250,000.00 - 7 459-2101 QUATERLY LEGISLATIVE/EXECUTIVE PARLEY[P & E] 10,000,000.00 - 10,000,000.00 - 8 459-2002 SOUTH WEST GOVERNORS FORUM SECRETARIAT 3,500,000.00 - 3,500,000.00 - 9 452-0101 SPECIAL ECONOMIC FUND COMMITTEE 2,847,291.84 - 2,847,291.84 - 10 459-1502 SENIOR EXECUTIVE ASSISTANT ON MEDIA [DEPUTY GOVERNOR OFFICE] 7,500,000.00 - 7,500,000.00 - 11 459-1614 MAINTENANCE OF GOVERNOR’S LODGE 50,000,000.00 - 50,000,000.00 - 12 459-2801 AUDITOR-GENERAL SERVICE COMMISSION 3,000,0000.00 - 3,000,000.00 - 13 459-0800 EKITI STATE SIGNAGE AND ADVERTISEMENT [IRS] 12,731,647.24 - 12,731,647.24 - 14 452-0102 EKSG/CBN MSMEs DEVELOPMENT FUND 12,000,000.00 - 12,000,000.00 - 15 459-5602 MINERAL RESOURCES AND ENVIRONMENTAL COMMITTEE 5,000,000.00 - 5,000,000.00 - 16 459-3107 CAPACITY BUILDING 2,895,105.93 - 2,895,105.93 - 17 455-1000 EKITI STATE UNIVERSITY 200,000,000.00 1,658,038.60 198,341,961.40 0.83 18 455-0500 BOARD FOR TECHNICAL AND VOCATIONAL EDUCATION 213,000,000.00 38,151,219.07 174,848,780.93 17.91 19 456-0100 MINISTRY OF HEALTH 701,464,052.00 5,000,000.00 696,464,052.00 0.71 20 456-0400 PRIMARY HEALTH CARE DEVELOPMENT AGENCY 284,000,000.00 13,256,000.00 270,744,000.00 4.67 21 458-1000 EKITI STATE WASTE MANAGEMENT BOARD 349,000,000.00 23,330,500.00 325,669,500.00 6.68
  18. 18. 18 17 459-3102 ECONOMIC DEVELOPMENT COUNCIL[MB&EP] 10,250,000.00 - 10,250,000.00 - 18 459-3401 CGS TO LGAS TRACK [MDG] 7,500,000.00 - 7,500,000.00 - 19 459-3402 DEVELOPMENT RELATION[MDGS] 2,500,000.00 - 2,500,000.00 - 20 NEWLY CREATED MDAs 56,962,587.43 - 56,962,587.43 - 21 457-0606 MAINTENANCE OF YOUTHS ORGANISATION AND AREA OFFICES 1,199,999.51 - 1,199,999.51 - 22 459-3110 YOUTH EMPLOYMENT AND SOCIAL SUPPORT OPERATION[YESSO] 5,000,000.00 - 5,000,000.00 - 23 459-0402 EKITI DIASPORA OFFICE 509,265.89 - 509,265.89 - GRANTS TO PARASTATALS AND TERTIARY INSTITUTIONS CAPITAL RELEASES TO MINISTRIES/DEPARTMENTS/AGENCIES S/N HEAD MINISTRY/DEPARTMENT/ AGENCY BUDGET 2015 N ACTUAL 2015 N BUDGET VARIANCE N PERFORMANCE % 1 459-1500 OFFICE OF THE DEPUTY GOVERNOR 42,960,000.00 - 42,960,000.00 - 2 459-5400 EKITI STATE BOUNDARY COMMISSION 16,500,000.00 - 16,500,000.00 - 3 458-1200 STATE EMERGENCY MANAGEMENT AGENCY [SEMA] 200,000,000.00 - 200,000,00.00 - 4 459-0500 SECRETARY TO THE STATE GOVERNMENT[SSG] 1,200,000.00 - 1,200,000.00 - 5 459-5100 POLITICAL AND ECONOMIC AFFAIRS DEPARTMENT 5,640,000.00 - 5,640,000.00 - 6 459-1200 POLITICAL AND INTER-PARTY AFFAIRS[P&E] 3,000,000.00 - 3,000,000.00 - 7 459-0900 EKITI STATE LIAISON OFFICE- LAGOS 100,000,000.00 - 100,000,000.00 - 8 459-1000 EKITO STATE LIAISON OFFICE- ABUJA 220,000,000.00 - 220,000,000.00 - 9 459-4500 BUREAU OF TRANSFORMATION AND STRATEGY 3,000,000.00 - 3,000,000.00 - 10 459-2600 EKITI STATE PENSION COMMISSION/BOARD 35,000,000.00 - 35,000,000.00 - 11 459-3000 CABINET DEPARTMENT GOVERNOR’S OFFICE 2,000,000.00 - 2,000,000.00 - 12 459-1200 INTER-GOVERMENTAL AFFAIRS 60,000,000.00 - 60,000,000.00 - 13 457-2200 HOUSE OF ASSEMBLY SERVICE COMMISSION 50,000,000.00 - 50,000,000.00 - 14 457-0200 BROADCASTING SERVICE OF EKITI STATE 325,000,000.00 - 325,000,000.00 - 15 457-0300 GOVERNMENT PRINTING PRESS 9,000,000.00 - 9,000,000.00 - 16 459-0600 OFFICE OF THE HEAD OF SERVICE 1,800,000.00 - 1,800,000.00 - 17 459-2300 OFFICE OF ESTABLISHMENT AND TRAINING 3,000,000.00 - 3,000,000.00 - 18 459-2400 STAFF DEVELOPMENT 3,000,000.00 - 3,000,000.00 - S/N HEAD MINISTRY/DEPARTMENT/ AGENCY BUDGET 2015 N ACTUAL 2015 N BUDGET VARIANCE N PERFORMANCE % 1 459-0301 CUSTOMARY COURT OF APPEAL 8,633,275.4 1 - 8,633,275.41 -
  19. 19. 19 CENTRE[ESTAB] 19 459-2800 STATE AUDITOR-GENERAL OFFICE 59,500,000.00 - 59,500,000.00 - 20 459-2900 OFFICE OF AUDITOR-GENERAL FOR LOCAL GOVERNMENT 88,000,000.00 - 88,000,000.00 - 21 459-3900 CIVIL SERVICE COMMISSION 4,000,000.00 - 4,000,000.00 - 22 459-2700 EKITI STATE LOCAL GOVERNMENT SERVICE COMMISSION 60,000,000.00 - 60,000,000.00 - 23 459-4100 STATE INDEPENDENT ELECTORAL COMMISSION 100,000,000.00 - 100,000,000.00 - 24 451-1100 RURAL DEVELOPMENT 230,000,000.00 - 230,000,000.00 - 25 451-0200 DIRECTORATE OF FARM SETTLEMENT AND PEASANT FARMER DEVELOPMENT 60,000,000.00 - 60,000,000.00 - 26 455-0200 SCHOOL AGRICULTURE AND ENTERPRISE 14,500,000.00 - 14,500,000.00 - 27 451-0500 AGRICULTURAL DEVELOPMENT PROJECT 50,000,000.00 - 50,000,000.00 - 28 451-0600 FADAMA PROJECT 70,000,000.00 - 70,000,000.00 - 29 458-0800 FORESTRY DEPARTMENT 70,000,000.00 - 70,000,000.00 - 30 451-0300 FOUNTAIN AGRIC MARKETING AGENCY 10,000,000.00 - 10,000,000.00 - 31 453-0400 MINISTRY OF FINANCE AND ECONOMIC DEVELOPMENT 500,000,000.00 - 500,000,000.00 - 32 459-5200 CENTRAL INTERNAL AUDIT OFFICE 16,000,000.00 - 16,000,000.00 - 35 459-0800 EKITI STATE SIGNAGE AND ADVERTISEMENT[IRS] 70,000,000.00 - 70,000,000.00 - 34 452-0100 MINISTRY OF COMMERCE,INDUSTRIES AND COOPERATIVES 167,000,000.00 - 167,000,000.00 - 35 453-0700 EKITI STATE ENTERPRISES DEVELOPMENT AGENCY 15,000,000.00 - 15,000,000.00 - 36 454-0300 MULTIPURPOSE CREDIT AGENCY 2,000,000.00 - 2,000,000.00 - 37 459-4200 PETROLEUM PRODUCTS CONSUMER PROTECTION UNIT 1,700,000.00 - 1,700,000.00 - 38 454-0100 BUREAU OF PRODUCTIVITY AND EMPOWERMENT 100,000,000.00 - 100,000,000.00 - 39 454-0200 JOB CREATION AND EMPLOYMENT AGENCY 10,000,000.00 - 10,000,000.00 - 40 454-1100 EKITI STATE TRAFFIC MANAGEMENT AGENCY 39,000,000.00 - 39,000,000.00 - 41 454-1400 EKITI STATE ROAD MAINTENANCE AGENCY [EKROMA] [PUBLIC WORKS CORPORATION] 180,000,000.00 - 180,000,000.00 - 42 453-0300 MINISTRY OF TOURISM CULTURE AND NATIONAL ORIENTATION 50,000,000.00 - 50,000,000.00 - 43 459-3200 BUREAU OF STATISTICS 41,000,000.00 - 41,000,000.00 - 44 459-3400 MILLENIUM DEVELOPMENT GOALS[MDG] OFFICE 3,000,000,000.00 - 3,000,000,000.00 - 45 459-4000 FISCAL RESPONSIBILITY COMMISSION 30,000,000.00 - 30,000,000.00 - 46 454-0900 RURAL WATER SUPPLY AND SANITATION AGENCY 130,000,000.00 - 130,000,000.00 - 47 458-0200 STATE HOUSING CORPORATION 300,000,000.00 - 300,000,000.00 - 48 459-4300 UTILITY SERVICE DEPARTMENT 9,950,000.00 - 9,950,000.00 - 49 459-0200 THE JUDICIARY 183,550,916.48 - 183,550,916.48 - 50 459-3000 JUDICIAL SERVICE COMMISSION 71,183,638.82 - 71,183,638.82 - 51 459-0100 MINISTRY OF JUSTICE 31,000,000.00 - 31,000,000.00 - 52 459-4400 SERVE-EKS 5,000,000.00 - 5,000,000.00 - 53 457-0400 MINISTRY OF YOUTH DEVELOPMENT 325,000,000.00 - 325,000,000.00 - 54 457-0700 WOMEN DEVELOPMENT CENTRE,IGEDE-EKITI[WOMEN AFFAIRS] 20,000,000.00 - 20,000,000.00 - 55 455-0800 EKITI STATE LIBRARY BOARD 46,800,000.00 - 46,800,000.00 - 56 455-1200 COLLEGE OF EDUCATION- IKERE EKITI 100,000,000.00 - 100,000,000.00 - 57 455-0700 STATE TEACHING SERVICE COMMISSION 40,000,000.00 - 40,000,000.00 - 58 455-0600 AGENCY FOR ADULT AND NON- 68,700,000.00 - 68,700,000.00 -
  20. 20. 20 FORMAL EDUCATION 59 456-0300 EKITI STATE UNIVERSITY TEACHING HOSPITAL 380,000,000.00 - 380,000,000.00 - 60 456-0600 HOSPITAL MANAGEMENT BOARD 155,000,000.00 - 155,000,000.00 - 61 456-0200 COLLEGE OF HEALTH TECHNOLOGY 114,952,052,00 - 114,952,052.00 - 62 456-0500 CENTRAL MEDICAL STORE 80,000,000.00 - 80,000,000.00 - 63 458-0700 MINISTRY OF ENVIRONMENT 47,000,000.00 - 47,000,000.00 - 64 457-0500 EKITI STATE SPORT COUNCIL 47,500,000.00 - 47,500,000.00 - 65 459-1300 MINISTRY FOR LOCAL GOVERNMENT,COMMUNITY DEVELOPMENT AND CHIEFTANCY AFFAIRS-STATE 203,000,000.00 - 203,000,000.00 - 66 451-1200 COMMUNITY DEVELOPMENT 161,000,000.00 - 161,000,000.00 - 67 459-1400 CHIEFTANCY AFFAIRS 11,000,000.00 - 11,000,000.00 - The tables above showed that most MDAs could not access their budgetary provisions during the period under review. While the sum of N8,864,627,933.63 was budgeted as expenditure for these MDAs, nothing was released to them throughout the year. MDAs with budgetary provisions of N8,007,990,784.34 could only access N476,246,126.53 leaving a difference of N7,531,744,657.81. Of a particular note is the case of Ministry of Agriculture and Forestry Department which showcased their potentials with impressive revenue performance levels of 120.14% and 75.57% respectively in the current year. However, out of the sum of N555,396,000.00 projected as capital expenditure for the Ministry, only the sum of N1,000,000.00 was released translating to 1.80% of budget performance while nothing was released to the Forestry Department out of capital allocation of N80,000,000.00 for the year 2015. Audit is of the opinion that in the face of falling crude oil prices and failing economy, Agricultural Sector holds prospect for immense growth of the economy and employment generation. Therefore, it should be recognised as one area of focus for more investments and innovations so that the sector could be repositioned as an alternative to crude oil. 3.6 EXCESS EXPENDITURE TO MDAS PERSONNEL COSTS HEAD MINISTRY/DEPARTMENT APPROVED ESTIMATES 2015 N ACTUAL EXPENDITURE 2015 N VARIANCE 2015 N 457-0102 MINISTRY OF INFORMATION, YOUTH & SPORTS DEVELOPMENT 118,956,583.79 130,022,257.45 (11,065,673.66) 455-0700 STATE TEACHING SERVICE COMMISSION 160,000,000.00 192,021,390.55 (32,021,390.55) TOTAL 278,956,583.79 322,043,648.00 (43,087,064.21)
  21. 21. 21 OVERHEAD COSTS HEAD MINISTRY/DEPARTMENT APPROVED ESTIMATES 2015 N ACTUAL EXPENDITURE 2015 N VARIANCE 2015 459-3100 BUDGET & ECONOMIC PLANING (Ministry of Budget) 7,609,706.03 18,240,000.00 (10,630,293.97) 457-0600 Ministry of Women Affairs, Gender Development and Social welfare 4,000,000.00 19,786,500.00 (15,786,800.00) TOTAL 11,609,706.03 38,026,800.00 (26,417,093.97) GRANTS TO PARASTATALS AND TERTIARY INSTITUTIONS HEAD MINISTRY/DEPARTMENT APPROVED ESTIMATES 2015 N ACTUAL EXPENDITURE 2015 N VARIANCE 2015 N 455-1200 College of Education, Ikere 2,426,000,000.00 2,825,028,221.00 (399,038,221.00) 455-1000 Ekiti State University 3,390,345,005.89 5,733,478,955.00 (2,343,133,949.11) 456-0300 University Teaching Hospital 2,501,841,358.53 2,669,100,094.65 (167,258,736.12) 456-0200 College of Health Technology 329,302,973.66 435,400,980.50 (106,098,006.84) TOTAL 8,647,489,338.08 11,663,018,251.15 (3,015,528,913.07) From the above tables, some Ministries and Departments exceeded their approved estimates without legislative approval. Allowance had been made in respect of the sum of N69,504,158.18 for the MDAS excess expenditure. However, Audit investigations revealed that the excess expenditure recorded under Grants to Tertiary Institutions was attributable to error committed by not adding the IGR of the Tertiary Institutions to their subventions in the budget estimates whereas it was added in the actual expenditure. RECOMMENDATION: The IGR of Tertiary Institutions captured in the budget is deemed to be part of their expenditure. Hence, the figures should always be added to their subventions in the budget estimate. Officers of Government concerned with budget preparation should take note of this.
  22. 22. 22 3.7 UNDER PROVISION MADE IN THE BUDGET FOR EXPENDITURE (LOAN REPAYMENT): It was observed that the sum of N4,226,912,293.21 was proposed for loan repayment in the 2015 budget. This was grossly inadequate when compared with actual loan repayment of N25,658,288,748.36. The amount to be proposed could be determined with ease as it is a function of monthly repayment on each category of loan. RISK: - Fund allocated for other purposes are diverted thereby leading to derailment of Government developmental programmes. RECOMMENDATIONS: (i) Correct data should be obtained from Accountant-General’s Office to determine the appropriate budget figure for loan repayment. (ii) Supplementary budget should be raised to take care of any unplanned/additional expenditure as in the case of settlement of outstanding loans to commercial banks through FGN Bond and repayment of bailout loan which came up during the year under review. 4.0 STATEMENT OF ASSETS AND LIABILITIES 4.1 PUBLIC DEBTS: 4.1.1 LOAN PORTFOLIOS OF THE STATE GOVERNMENT AS AT 31ST DECEMBER, 2015: N (i) Internal Loan 47,983,838,726.49 (ii) External Loan 11,014,756,390.56 58,998,595,117.05 SOURCES: Financial Report of the Accountant-General, Ekiti State for the year ended 31st December, 2015.
  23. 23. 23 From the above statement, the Internal (local) and External (foreign) Loans of the State Government stood at N47,983,838,726.49 and N11,014,756,390.56 respectively as at 31st December, 2015. However, the management of the External Loan of the State Government had not been given the required attention. The sum of N11,014,756,390.56 reported as the External Loan of the State as at 31st December, 2015 could not be taken to be the authentic figure because of the following : (i) SEPIP CLOSING BALANCE:- The State Financial Report showed the balance as $22,099,266.70 whereas DMO document from Abuja showed that the balance was $22,251,862.64 giving rise to a difference of $152,595.94 to be reconciled. (ii) 3RD NATIONAL FADAMA:- DMO document revealed that no repayment was made in 2014 whereas the State Financial Records revealed that $261,557.96 was paid in 2014. (iii) PSGRDP AND YESSO:- These two on-going –projects with a cumulative drawn down of N429,843,262.24 were not captured by DMO document. Therefore they have not been included in the State Foreign (External) Loan Balance as at 31st December, 2015. (iv) THE PAYMENT COLUMN: - The payment column of the repayment schedule of the foreign loan in 2015 Financial Report was calculated as the difference between the opening balances of each Loan component in the Financial Report and their closing balances as stated in DMO document from Abuja. The actual repayment on each foreign debt component was not stated in the DMO document and this was not shown in the FAAC document sent from Abuja. In order to get a more reliable, accurate and final figure, a mandatory visit has to be made to the Debt Management Office, Abuja for proper reconciliation of the State records on foreign loans with that of DMO. 4.1.2 RECOMMENDATIONS: - (i) A crack team comprising of Staff of Ministry of Finance, Accountant- General’s Office and Auditor-General’s Office should be raised to visit DMO, Abuja to carry out proper reconciliation of observed discrepancies in the foreign debt records.
  24. 24. 24 (ii) The Staff of the State Finances Department, Ministry of Finance should wake up to their responsibility. 4.1.3 ANALYSIS OF RECEIPTS AND PAYMENTS OF INTERNAL LOAN FROM 2011-2015 YEAR LOAN OBTAINED PAYMENT N N 2011 37,836,318,010.44 11,153,163,503.30 2012 3,902,152,097.70 16,972,939,690.34 2013 11,127,054,913.31 8,047,386,179.27 2014 13,604,212,740.48 10,359,348,771.10 2015 10,153,923,365.41 6,369,673,783.30 76,623,661,127.34 52,984,404,147.31 Sources:- Financial Reports of Accountant-General, Ekiti State for the period 2011-2015. From the above analysis, the total Internal Loans obtained by the State for the period 2011-2015 was N76,623,661,127.34. After the payment of N52,984,402,147.31, the expected balance was supposed to be N23,639,258,980.03. However, the statement of Assets and Liabilities as at 31st December, 2015 revealed the Internal Loan of the State to be N47,983,838,726.49. The difference of N23,344,579,746.46 being the high cost of borrowing of these loans and severe penalty charges paid on the loan facilities due to failure on the part of Government to honour the repayment agreement. Up till now, the pangs of servicing these loans remained a pain in the neck of the Government as the monthly deductions from the State Allocations had impaired its budgetary allocations to other sectors of the State economy. It must be noted that when loans were not utilised in extending / stretching the productive capacity of the economy, it may lead to ‘debt overhang’ that is a situation where debt stock exceeds its future repayment. Audit is of the opinion that utilisation of loans should be towards programmes and projects that will generate economic returns to offset loaned outlays.
  25. 25. 25 4.1.4 RECOMMENDATIONS: (i) Loans should be faithfully expended on capital assets that are capable of generating future income in view of the current precarious state of the State’s economy. (ii) Government should take proactive steps to stimulate private productive activities from which IGR could be derived. 5.0 SUBMISSION OF APPROPRIATION ACCOUNTS BY MINISTRIES, DEPARTMENTS AND AGENCIES. By the provisions of Section 35 (4) of Audit Law (No 11) of 2014, the Accounting Officers of MDAs shall prepare and submit to the Accountant-General with copy to the Auditor General, Appropriation Account of the monies expended under the votes for which they are responsible within three (3) months after the close of each fiscal year. Thus, for the year ended 31st December, 2015, the accounts were supposed to reach me on or before 31st March, 2016. Out of 55 MDAs that rendered their accounts, 53 of them submitted before the due date of 31st March, 2016. The table below shows the analysis of the rendition of appropriation accounts for the year under review. 5.1 SUBMISSION OF YEAR 2015 ANNUAL APPROPRIATION ACCOUNT S/N MINISTRY/MDA’S DATE OF SUBMISSION 1 General Administration Department 12th January, 2016 2 Fiscal Responsibility Commission 21st January, 2016 3 Central Internal Audit 15th January, 2016 4 Christian Pilgrims’’ Welfare Board 26th January, 2016 5 Ministry of Local Government Affairs 27th January, 2016 6 Ekiti State Waste Management 1st February, 2016 7 Cabinet and Special Service Department 2nd February, 2016 8 Ministry of Health 5th February, 2016 9 School of Agric and Enterprise Agency 10th February, 2016 10 Office of State Auditor General For Local Government 16th February, 2016 11 Office of the State Auditor-General 16th February, 2016 12 BIR 17th February, 2016 13 Political & Economic Affairs Department 18th February, 2016 14 Ekiti State Boundary Commission 19th February, 2016 15 Ekiti Enterprise And Economic Development Agency 19th February, 2016 16 Subsidy Reinvestment Programme (SURE-P) 22nd February, 2016 17 Ekiti State House of Assembly Service Commission 22nd February, 2016 18 Ekiti State Environmental Protection Agency 22nd February, 2016
  26. 26. 26 19 Ministry of Agriculture and Rural Development 22nd February, 2016 20 Ministry of Justice 22nd February, 2016 21 Ministry of Women Affairs, Social Development & Gender Empowerment 23rd February, 2016 22 Ekiti State House of Assembly 23rd February, 2016 23 Primary Health Care Development Agency 24th February, 2016 24 Office of Establishment and Training 24th February, 2616 25 Bureau of Tourism , Arts & Culture 24th February, 2016 26 Ekiti State Scholarship Board 25th February, 2016 27 Ekiti State Multipurpose Credit Agency 26th February, 2016 28 Ekiti State Education Trust Fund 26th February, 2016 29 Ministry of Information , Youth and Sports Development (Printing Department) 26th February, 2016 30 State Universal Basic Education Board 26th February, 2016 31 Ministry of Education, Science and Technology 29th February, 2016 32 Board for Technical Vocational Education 29th February, 2016 33 Ministry of Finance and Economic Development 29th February, 2016 34 Office of the Surveyor General 1st March, 2016 35 MDGS 1st March, 2016 36 Government House & Protocol Department 1st March, 2016 37 Ministry of Information, Youth & Sports Development 1st March, 2016 38 Job Creation and Employment Agency 2nd March, 2016 39 Central Medical Stores 2nd March, 2016 40 Office of the Deputy Government 10th March, 2016 41 Hospitals Management Board 10th March, 2016 42 Ekiti State Muslim Pilgrims Welfare Board 10th March, 2016 43 Ministry of Budget, Economic Planning and Service Delivery 10th March, 2016 44 State Aids Control Agency 11th March, 2016 45 State Bureau of Statistics 13th March, 2016 46 Agency for Adult and Non-Formal Education 14th March, 2016 47 Ekiti State Housing Corporation 17th March, 2016 48 Ekiti State Electricity Corporation 24th March, 2016 49 Ministry of Environment 29th March, 2016 50 Housing Loan Board 29th March, 2016 51 State Independent Electoral Commission 29th March, 2016 52 State Environmental Management Agency 29th March, 2016 53 Ekiti State Water Corporation 29th March, 2016 54 Civil Service Commission 4th April, 2016 55 Bureau of Productivity & Empowerment 26th April, 2016
  27. 27. 27 5.2 OBSERVATIONS ON APPROPRIATION ACCOUNTS SUBMITTED BY MDAS: (i) Most Ministries, Departments and Agencies did not keep essential books of accounts such as Departmental Vote Revenue Abstract (DVRA), Departmental Vote Expenditure Abstract (DVEA), Deposits and Advances Ledgers. Where they are kept at all, they were not properly maintained. (ii) There were variances between the appropriation figures submitted by MDAs to this Office and figures in the DVEA books kept by the Accountant-General’s Office. This implies lack of proper co- ordination of the field officers by the Headquarters. 5.3 RECOMMENDATION: - Monitoring unit of Accountant-General’s Office should be strengthened for efficiency and effectiveness while Internal Auditors should be alive to their responsibilities. 6.0 STATE OF THE ACCOUNTS 6.1 PREPARATION OF 2015 BUDGET: It was observed that the Budget was not prepared in accordance with National Charts of Accounts which specified six segments which must be completed in the budget entries with specific codes for all revenue items. This is to facilitate uniform budgeting and financial reporting in the country which is one of the benefits of adopting IPSAS in the Country. 6.1.1 RECOMMENDATION: The Ministry of Budget, Economic Planning and Service delivery should ensure that from year 2016 State Budgets are prepared in consonance with National Charts of Accounts. 7.0 TREATMENT OF PERSONNEL COSTS OF GOVERNMENT AGENCIES AND PARASTATALS IN THE BUDGET: It was observed that the personnel costs of Government Agencies and Parastatals were treated under the subvention Head of Expenditure in the current year budget. It should be noted that no subvention was released to any parastatal now as state workers’ salaries are centrally paid.
  28. 28. 28 7.1 RECOMMENDATION: The personnel costs of these agencies and parastatals should be treated under the personnel costs Head of Expenditure. The Ministry of Budget, Economic Planning and Service Delivery should take note of this. 8.0 ADOPTION OF IPSAS ACCRUAL BASIS OF ACCOUNTING It must be noted that 2015 financial reports should be the last to be prepared using cash basis of accounting as the Federal Government had already set 1st January, 2016 as the date of adoption of IPSAS accrual basis of accounting for all Public Sector Entities in the country. The State Government should take proactive measures to ensure its implementation so that Ekiti State would not be the clog in the wheel of consolidation of the accounts of all the public sector entities in the Country. 8.1 RECOMMENDATIONS: (i) The State Government should issue a statement on adoption of IPSAS accrual basis of accounting in the State. (ii) Training of all relevant stakeholders to be involved in its implementation and purchase of the software necessary to prepare the accounts. (iii) Setting up of committee on compilation and revaluation of all the assets owned by the State. 9.0 INTERNAL CONTROL SYSTEM: The State’s Internal Control System needs to be beefed up especially the E- payment of salaries. The Central Internal Audit would appear not to be efficient in this critical area. Hence, the unit should improve on its performance to ensure that all observed inefficiencies associated with E-payment of salaries in the State are reduced to barest minimum. In accordance with section 29002 of Financial Administration, the Internal Auditors are to carry out prepayment check on all vouchers including salary vouchers to ensure their correctness before payment.
  29. 29. 29 9.1 RECOMMENDATIONS: (i) The Internal Auditors should ensure strict compliance with the circular Number EK/AUD/503/02 issued by the State Auditor-General on Internal control measures on salary payments. (ii) The Headquarter of the unit should Co-ordinate the reports of its field officers to come out with a single monthly report on payment of salaries in the state. The major highlights of the report should include; variation report, names of retired officers, dead officers, any observed unjust overpayment etc. (iii) Where the unit is unable to carry out its roles, they should write the report and send it to appropriate quarters rather than keeping silent. 10.0 REVENUE GENERATED BUT NOT CAPTURED BY IGR PLATFORM. It was observed that some IGR in the State were not captured by the IGR platform of the Board of Internal Revenue Service, though, the records are maintained by the Treasury Department. Examples of such are: Traffic control fines, Plate number, Primary and Secondary Schools’ Development Levy. Another example was the amount reported in the Financial Statements as revenue generated by the Education Trust Fund which was put at N16,572.00 whereas Audit investigation revealed that N33,532,852.49 was actually collected in the year under review. The effect of this is that the Board of Internal Revenue will understate the IGR of the State. 10.1 RECOMMENDATIONS: (i) All Internally Generated Revenue must be captured by the State Internal Revenue Service to prevent understatement of State IGR. (ii) Where the Treasury Department or any other special Agency collects any revenue, the returns should be sent to SIRS on monthly basis.
  30. 30. 30 11.0 BAILOUT FUND: The State received a sum of N9,604,430,000.00 as bailout loan at 9% interest rate in the year 2015 for the settlement of outstanding salaries, deductions and subventions owed to the workers and some institutions by the last administration. However, the sum of N991,036,972.45 was the Local Government component of the loan leaving a balance of N8,613,393,027.55 as State component . The repayment period covers 240 months from October, 2015 to September 2035 and monthly repayment of N86,405,567.05. The Local Government component of the repayment is N7,864,121.62 which will be paid to the State coffers for the same period. The application of the bailout fund as revealed by Accountant-General’s record is shown in Appendix “A” 12.0 FGN BOND: The State commercial Bank loans amounting to N18,828,978,546.52 were restructured into 14.83% FGN Bond during the year under review. N18.3b of the total loan was procured by the last administrations in the State. The bond had a repayment period of 226 months from October, 2015 to July, 2034 with a monthly repayment of N248,153,651.78 13.0 OUTSTANDING STATUTORY DEDUCTIONS: Statutory deductions amounting to N1,218,861,341.27 deducted from contracts and other procurements made in the year 2014 was still outstanding as at 31st December, 2015. The figure was not even included in the debt profile of the State as at 31st December, 2014 compiled by the Office of the Accountant-General as disclosed in the 2014 Financial Report. 13.1 RECOMMENDATION: - The Accountant- General should be courageous enough to advise the Government appropriately on financial matters. They ought to have brought to the notice of the then Government the financial implications of non- payment of these deductions as the law stipulates penalty for late payment of some of these deductions. The amount outstanding should be paid as soon as possible to avoid payment of heavy penalties on it.
  31. 31. 31 14.0 OUTSTANDING LOSSES: Outstanding Losses which amounted to N24,711,640.40 and reported as Appendix ‘B’ were yet to be attended to by the affected MDAs. Despite repeated comments on the issue in previous reports, it would appear as if no effort had been made by the Accounting Officers of the various affected MDAs to recover the losses. The public Accounts Committee is urged to take necessary action as recommended in Appendix ‘B’ 15.0 STATE INVESTMENTS The management of Government stock had been transferred to Fountain Holdings Limited since year 2011. Financial Reports of the Accountant-General had not revealed any contributions by the Holding Company to the State Internally Generated Revenue in the form of dividend or returns on investment. Audit investigation revealed that various dividends declared by some of the companies in which the State government had investment for the period 2012 to 2015 amounted to N165,254,578.70 as shown in Appendix ‘C’ The calculation was based on the original no of shares transferred to the Fountain Holdings without considering the bonus and scrip issue of shares declared by the companies. (See Appendix ‘D’ for schedule of Government Stock transferred). Beside this, the sum of N500,000,000.00 fixed deposit of the State Government held by Enterprise Bank was used to defray the overdraft of Fountain Holdings in the year 2014. In the current year under review, commercial Bank loan plus accrued interest amounting to N1,386,766,023.10 procured by the management of Fountain Holdings was paid by the State Government through the FGN Bond. It should be noted here also that Fountain Holdings was expected to collect rents on some Government properties. Despite all these, no audited Financial Statements of the Enterprise had been submitted to my Office since inception.
  32. 32. 32 15.1 RECOMMENDATIONS: (i) There is an urgent need to conduct a forensic investigation on the organization since inception. (ii) The Public Accounts Committee of Ekiti State House of Assembly should take a critical look at the case of Fountain Holdings for appropriate action. (iii) The enterprise should be repositioned to become a viable organization that will professionally manage Government securities to generate earnings and harness the economic potentials of the State for revenue enhancement and employment generation. 16.0 E-PAYMENT OF SALARY: The audit analysis of payroll carried out for the period 2012- 2014 by this Office had revealed that salaries were paid to Retired, Absconded and Dead Officers. It was confirmed that in the period 2012-2014, a sum of N80,231,650.89 was paid to this set of officers through the payroll platform as stated below: N : K (a) Core MDAS 19,176,406.20 (b) TSC (Teaching Staff) 23,650,040.87 (c) TSC (Dead Staff) 8,485,149.63 (d) TSC (Non-Teaching Staff) 1,949,713.53 (e) HMB 26,478,703.51 (f) BSES 385,865.63 (g) Housing Corporation 105,771.52 GRAND TOTAL 80,231,650.89 There were also cases of double payment of salaries to staff discovered in the payroll as stated below: N : K (a) May 2014 199,513.56 (b) September 2014 28,995.69 (c) December 2014 153,777.01 (d) January 2015 334,197.79 (e) March 2015 747,987.37 GRAND TOTAL 1,464,471.42
  33. 33. 33 It was also discovered by Audit that the State Account was debited twice with the sums of N3,145,292.15 and N1,326,578.67 by NIBSS leading to an over payment of N4,471,870.82 which NIBSS agreed to refund to Government Account. The State Accountant-General had been requested to confirm the recovery of these sums. The Audit analysis for the year under review was still ongoing at the time of writing this report. The delay was due to non-release of NIBSS Report for some months in the year 2015. 16.1 RECOMMENDATIONS: (i) Timely release of NIBSS Reports on the payment of salaries is mandatory for the audit analysis of the payroll. (ii) Circular Number EK/AUD/503/02 on Beefing the Internal Control Measures around the State’s Payroll System issued by this Office must be strictly adhered to in order to check the observed irregularities in the payroll system. (iii) The Accountant-General Office should endeavour to prepare the monthly variation report after payment of salaries. (iv) Delay by the Office of the Accountant-General to resolve financial issues raised by this Office should be discouraged. 17.0 NON-DISCLOSURE OF OUTSTANDING LIABILITIES: The outstanding Liabilities of the State especially the contractual obligations was not disclosed in the 2015 Financial Report of the Accountant-General despite my comments and inclusion of the same in the Auditor-General’s Report for the year 2014. The Accountant-General should take note that full disclosure of all material facts which is a key requirement of IPSAS is sacrosanct for a true and fair General Purpose Financial Statements. This enhances reliability of the information provided by the GPFS to the various users.
  34. 34. 34 17.1 RECOMMENDATIONS: (i) Full disclosure must be made on all outstanding liabilities of the State as at the end of the financial year so that users of the GPFS would be properly guided to make right decisions based on information provided. (ii) The Accountant-General should liaise with the State Tenders Board with a view to keeping reliable Contract Register for the State. 18.0 IKUN DAIRY FARM: The balance of N2,700,000.00 owed Ekiti State Government by Shonga Farms Limited on the sales of the animals at the defunct Ikun Dairy Farm is yet to be recovered. 18.1 RECOMMENDATION:-The Ministry of Trade, Investments and Innovation should write the consultant/buyer to pay the outstanding amount to Government Treasury without further delay. 19.0 PUBLIC DEBTS: 19.1 LOCAL LOANS: The difference between the total amount of local loan reflected in the Annual Financial Statements of Accountant-General for the year 2013 and the total amount disclosed by the Debt Management Office as loan for the same year, amounting to N70,789,257.07 had not been resolved since 2013 when the issue was raised in the Auditor –General’s Report. 19.2 RECOMMENDATION: The Office of the Accountant-General should resolve this issue with dispatch. 19.3 FOREIGN LOANS: No critical steps had been taken since it was reported in the 2013 Auditor- General’s Report that the State foreign debt was overstated by$3,819,960.63 which was an equivalent of N611,002,702.77 based on the ruling exchange rate as at 31st December, 2013.
  35. 35. 35 Also, a reported case of N103,361,447.79 in the Auditor-General’s Report for year 2012, being the difference between amount actually deducted directly from FAAC and the amount actually paid as indicated in the analysis of the foreign loan had not been attended to up till the time of writing this report. 19.4 RECOMMENDATION: - Audit query no EK/GMD/AGR/35 forwarded to the Office of Accountant General on these issues should be promptly responded to. 20.0 BOND MANAGEMENT: The total Bond obtained by the State Government was N25 billion in two tranches of N20 billion and N5 billion secured in October, 2011 and December, 2013 respectively. The interest payable on N20 billion and N5 billion Bonds are N13,364,531,872 and N3,606,472,100.84 respectively, making a total loan repayable of N41,971,003,872.84 on the N25 billion Bond. As at 31st December, 2015 the sum of N22,716,031,323.09 had been paid on the two bonds to the Bond Sinking Fund Accounts leaving a balance of N19,254,972,548.93 to be paid. However, a sum of N1,905,236,000.00 was still standing in the Bond Sinking Fund Accounts as balance yet to be paid to principal and coupon Bond Holders. The Trustee Annual Fee of 0.10% on the Bond amounting to N84,000,000.00 was overcharged by N4,000,000.00. Again, the demand note expected to be presented by the Consultant and Registrar for their fees could not be produced for scrutiny. 20.1 RECOMMENDATION: The yearly overcharge of the Trustee Annual Fee by N1m should be discontinued while the excess Fee of N4m should be credited to the Bond Sinking Fund Accounts. 21.0 REVIEW OF THE FINANCIAL ADMINISTRATION: There is the need to review the current Financial Administration being used in the State to reflect the newly introduced Accounting standards and establishment of Central Internal Audit. It is observed that copies of the current Financial Administration are no longer available as those who wanted to buy could not get them at Civil Service Commission or at Office of Establishments and Training.
  36. 36. 36 21.1 RECOMMENDATION: The present copy of the Financial Administration could be made available on the website of Ekiti State Government for any user to download. 22.0 TRANSFERS TO OTHER FUNDS. It became the practice in recent times to vote money to a head of expenditure for recurrent purposes and tag same as ‘Transfer to Other Funds’ in the budget. A fund is a pool of resources set aside for a specific purpose and the establishment of such funds is often backed by proper regulations spelling out their purpose and modus-operandi of the Fund. Examples are Consolidated Revenue Fund, Capital Development Fund etc. It is when the funds available to such Fund are insufficient for the purpose for which it was established that funds are then authorised to be transferred from the Consolidated Revenue Fund to meet the shortfall. It is such fund transfer that bears the narration ‘Transfer to Other Funds’ in Consolidated Revenue Fund. In the light of the above, it is unusual and unethical to vote money to a head of expenditure for recurrent purposes and tag same as ‘Transfer to Other Funds’ Audit is of the opinion that the practice should be reconsidered and discontinued for transparency and probity in the State budgetary process. 23.0 OUTSTANDING ISSUES IN PREVIOUS AUDITOR-GENERAL’S REPORT Many issues raised and recommendations made in the past Auditor-General’s Reports were left unattended to by the concerned MDAs It must be noted here that the essence of the Auditor-General’s Report is to expose the weaknesses and flaws in the Financial Management System and to recommend ways to strengthening same to ensure transparency and accountability in the management of public finances which is the hallmark of good governance.
  37. 37. 37 24.0 POSITION OF ACCOUNTS IN EDUCATIONAL INSTITUTIONS /PUBLIC SECONDARY SCHOOLS. The accounts of One Hundred and Ninety Two (192) Public Secondary, Technical and Special Schools for the year 2014/2015 had been checked with the necessary corrections made by this Office. Out of One Hundred and Ninety Two (192) public schools in the State, One Hundred and Thirty (130) schools had been audited. Work is in progress on the auditing of Thirty One (31) schools, while Thirty One (31) schools were yet to be audited as at the time of writing this report. However, most of the anomalies mentioned in paragraph (2) of the 2008 Auditor-General’s Report still remain. It is equally sad to note that no effort was made to recover the outstanding amount of N11,271,572.70 being loss of fund reported in paragraph a (b) of the 2009 Auditor-General’s Report and included in this Report as Appendix ‘E’. Appendix ‘F’ contains the current position of the accounts of all Public Secondary Schools in the state. 25.0 TERTIARY INSTITUTIONS The state of the accounts of the Tertiary Institutions in the State is as listed below: S/N INSTITUTION PERIOD 1 Ekiti State University, Ado-Ekiti 31st December, 2014 2 College of Education, Ikere-Ekiti 31st December, 2013 3 College of Health, Science & Technology, Ijero 31st December, 2014 26.0 ISSUES REQUIRING GOVERNMENT ATTENTION IN THE OFFICE OF THE STATE AUDITOR-GENERAL. 26.1 AUDIT STAFF TRAINING AND DEVELOPMENT Staff training and development is essential to enhance the productivity of any establishment. To keep staff abreast of innovations in Accounting and Auditing, Government should train more staff especially in the area of ICT, Forensic Audit, IPSAS Accrual, Risk based Auditing, Taxation, Project Monitoring etc to update their knowledge. I wish to acknowledge here that the Office is now deriving benefits from
  38. 38. 38 the training provided for few members of staff. The trained staffs are adding value to the Office. 26.2 FINANCE: The Office of the State Auditor-General was not adequately funded in the year under review. Many activities of the Office are often handicapped by paucity of fund. Most affected was the department of Monitoring and Evaluation where it is expedient for staff to travel before accomplishing any assignment .This was a major hindrance for effective and efficient performance because Auditors would have to rely on their clients and this would automatically impair objectivity. Therefore, two separate Heads of Expenditure for (i) Monitoring and Evaluation and (ii) Outstation Department should be created in the budget. My Office should be funded in equal monthly instalments once budget is approved by the House of Assembly to guarantee some level of financial independence as being practiced by other States. 26.3 AUDIT LAW It is indeed appreciative and worthy of commendation for the State Government to have taken a bold step towards the passage of Audit bill into Law in 2014. This was a right step to enhance the independence of the Office of the Auditor-General which is a requirement of INTOSAI, the practice in advanced economies and a demand by foreign partners and donors. Whatever expedient reviews that have to be carried out on the Law to allow for its full implementation should be speedily concluded. Without the full implementation of the Audit Law, it cannot be said that the independence of the Office of the Auditor-General has been secured in practice. Daniel A. Kayode (FCNA,FCFIP,ACTI) Auditor-General, Ekiti-State.
  39. 39. 39 APPENDIX ‘A’ APPLICATION OF BAILOUT FUND. S/N DETAILS OF PAYMENT AMOUNT N : K 1 2014 Outstanding deductions 1,854,968,394.52 2 2014 Outstanding Leave Bonus 730,588,563.79 3 2014 August Subvention 636,131,826.83 4 2014 September Salaries 1,537,171,551.16 5 2015 September Subvention 710,284,622.83 6 2015 April Subvention (EKSU) 260,000,000.00 7 2015 April Government Deductions 148,499,246.66 8 2015 June Salaries 1,409,457,040.07 9 2015 June Subvention 726,120,788.33 10 2015 September Augmentation 325,575,323.52 11 Local Government component 991,036,972.45 TOTAL 9,329,834,330.16
  40. 40. 40 APPENDIX ‘B’ DETAILS OF LOSS OF FUND AS AT 31ST DECEMBER, 2009. MINISTR/AGENCY Ref NO AMOUNT INVOLVED N AMOUNT RECOVERED N OUTSTANDING BALANCE N NAMES OF OFFICER INVOLVED REMARKS MINISTRY OF JUSTICE EK/GJS/2/1 103,942.00 - 103,942.00 Mr.FemiOmo tayo No recovery MINISTRY OF JUSTICE EK/GL/MJS/1/5 214,927.61 - 214,927.61 Mr.FemiOmo tayo No recovery EKITI SPEB EK/GL/ESTAB/1/3 41,000.00 - 41,000.00 Mr.E.O.Alo No recovery BULK PURCHASE VENTURES EK/GL/BPV/1/3 660,950.00 - 660,950,00 Mr. P.O. Orimolade No recovery BULK PURCHASE VENTURES EK/ GL/BPV/2/4 98,970.00 - 98,970.00 Mr M.A Alade No recovery OFFICE OF MILITRY ADMINISTRATION EK/ GL /GKP/1/29 210,980.00 - 210,980.00 Mr.O.OOluye de No recovery MINISTRY OF WORKS AND TRANSPORT EK/ GL/SHLB /1 1,529,267.03 - 1,529,267.03 Mr.O.OOluye de No recovery MINISTRY OF EDUCATION EK/GL/MED/1/97 250,000.00 - 250,000.00 Mr. C. O Afolayan Under correspond ence B.S.E.S EK/ GL /BSES/1/2003 46,176.00 - 46,176.00 Mr OluAkerele Under correspond -dence B.S.E.S EK/ GL /BSES/5/2003 615,000.00 - 615,000.00 Messer Martins Ayoola and Others Full Recovery B.S.E.S EK/ GL /BSES/6/3002 521,000.00 - 521,000.00 Mr Abiodun Ola Ofe No recovery C.U.D.A EK/GL/CUDA/1/3 8,096,217.96 - 8,096,217.96 Messer I.A Ilori and Others No recovery C.U.D.A EK/GL/CUDA/14/4 5,201,642.08 - 5,201,642.08 Mrs Falodun And Mr Akinyemi No recovery B.I.R EK/GL/BIR/1/2006 3,417,567.72 996,000.00 2,421,567.72 Mr. S.O. Abe Not fully recovered EKROMA EK/GL/EKROMA/1/2006 4,700,000.00 - 4,700,000.00 Mr.TayoOke No recovery TOTAL 25,707,640.40 996,000.00 24,711,640.40
  41. 41. 41 APPENDIX ‘C’ DETAILS OF DIVIDENDS DECLARED FROM 2012-2015 S/N NAME 2012 2013 2014 2015 TOTAL UNIT ACQUIRED ACCUMULATED DIVIDEND N 1 ACCESS BANK 0.60 0.60 0.25 0.35 1.80 1,617,000 2,910,600.00 2 ASHAKA CEMENT 0.40 0.42 0.42 0.45 1.69 389,333 657,972.77 3 DIAMOND BANK NIL NIL 0.30 0.10 0.40 6,721,000 2,688,400.00 4 FIRST BANK N1.00 N1.00 10K - 2.10 215,295 452,119.50 5 GUARANTY TRUST BANK 1.55 1.30 - 1.50 4.35 1,250,000 5,437,500.00 6 NAHCO 0.30 NIL 0.30 0.20 0.80 1,000,000 800,000.00 7 SKYE BANK 0.50 0.30 0.30 NIL 1.10 5,141,388 5,655,526.80 8 STERLING BANK 0.10 0.20 0.25 6K 0.61 2,242,393 1,367,859.73 9 UBA 0.50 0.50 0.50 0.10 1.60 703,125 1,125,000.00 10 UNILEVER NIL 1.40 1.25 0.20 2.85 70,000 199,500.00 11 VITAL FOAM 0.25 0.25 0.50 0.30 1.30 298,975 388,667.50 12 ZENITH BANK 1.60 1.60 1.75 1.75 6.70 21,428,572 143,571,432.40 TOTAL 6.80 7.57 5.92 5.01 25.30 41,077,081 165,254,578.70
  42. 42. 42 APPENDIX ‘D’ SCHEDULE OF GOVERNMENT STOCK TRANSFERRED BY MINISTRY OF FINANCE AND MANAGED BY FOUNTAIN HOLDINGS LTD AS AT 31ST DECEMBER, 2011. S/N STOCK UNIT ACQUIRED VALUE /UNIT COST OF ACQUISITION CURRENT MARKET PRICE/UNIT CURRENT VALUE 1 ASHAKA CEMENT PLC 389,333 13.82 5,380,313.35 11.30 8,845,162.85 2 DANGFLOUR 1,000,000 16.70 16,703,875,65 5.00 15,650,320.00 3 DANGFLOUR 1,000,000 17.39 17,393,717.24 4.70 12,588,726.15 4 DIAMOND BANK 6,721,000 14.50 97,469,460.00 1.92 33,856,679.61 5 EQUITY ASUR 250,000 4.13 1,031,372.01 0.50 122,268.13 6 GUARANTY 1,250,000 12.76 15,947,175.28 14.25 19,049,373.88 7 LASACO 200,000 4.75 950,611.20 0.50 97,814.50 8 UNILEVER 70,000 23.05 1,613,500.00 29.00 1,848,694.05 9 UBN 2,243,558 12.17 27,301,174.83 10.60 5,925,217.61 10 OLUWA GLASS 22,142,508 - - 4.47 - 11 UBA 703,125 8.65 4,459,960.00 2.59 3,878,956.27 12 FBN 1,000,000 13.35 13,347,945.74 8.90 12,226,807.91 13 FLOURMILL 1,833 - - 65.45 170,329.28 14 SOVERN TRUST 64,043,571 4.21 269,400,000.00 0.50 31,321,949.38 15 STERLING BANK 2,242,393 1.92 4,305,394.56 1.01 4,081,155.26 16 UAC-PROD 1,324 - - 12.00 26,840.00 17 NAHCO 1,000,000 9.93 9,932,475.27 5.14 7,336,087.50 18 ACCESS 1,617,000 12.73 20,580,000.00 4.80 11,229,789.30 19 FIRST BANK PLC 215,295 19.65 4,229,940.00 8.90 356,688.40 20 UBN 26,047 21.83 568,664.04 10.60 1,000,882.06 21 VITA FORM 298,975 4.41 1,318,928.22 5.06 10,124,778.90 22 WEMA BANK PLC 178,889 3.17 566,344.68 0.57 155,731.65 23 BANK PHB 1,882,000 17.00 31,994,000.00 - 2,319,494.80 24 AFRI-BANK 4,200,000 1.98 8,316,000.00 - 102,900.00 25 SKYE BANK PLC 5,141,388 38.90 200,000,000.00 8.59 44,164,522.92 26 FIRST INLAND BANK 21,052,632 9.50 200,000,000.00 - - 27 ZENITH BANK PLC 21,428,572 14.00 300,000,000.00 - - TOTAL 1,252,810,852.07 236,677,270.41
  43. 43. 43 APPENDIX ‘E’ OVERLOADING OF SALARY PAYMENT VOUCHERS OF PUBLIC SECONDARY SCHOOLS IN EKITI STATE S/NO NAME OF SCHOOL PERIOD OF LOSS AMOUNT INVOLVED N TOTAL RECOVERY N AMOUNT OUT- STANDING N PRINCIPAL’S NAME BURSAR’S NAME REMARK 1 Osi Jnr. H/S, Osi-Ekiti Nov.- Dec.,2006 94,000.00 - - Mr. F.A. Ogunnike Mr.Abolarin 2 Elo Jnr. H/S, AiyetoroEkiti Apr.- Jun.,2008 90,000.00 90,000.00 - Mr.Adeosun Mr. B. E. Oye 3 Ojo-Ugbole Jnr. H/S, IgboleEkiti June,2008 42,174.58 - 42,174.58 Mr.C.A. Ajiniran Miss Isiaka S. B. 4 Orin Jnr. H/S, Orin Ekiti Apr.-Jun., 2008 78,700.68 - - Mr.J.K. Adeleye Mr.Abolarin O. 5 Arinjale Com. Jnr H/S, IseEkiti May- Jun.,2008 64,960.00 64,960.00 - - Mr.O.J.Ojo 6 Obada Jnr. H/S, IseEkiti Jan., 2008 40,999.99 - 40,999.99 - Mr. S. K. Oni 7 United Comp. Snr. H/S, IseEkiti Apr.,2006- Jun.,2008 1,755,017.13 - 1,755,017.13 Mr.S.S. Alarde Mr. Y. A. Adegbola 8 United Comp. Jnr. H/S, IseEkiti Jul.2007- Jun.,2008 731,907.07 - 731,907.07 Mr.M.A. Abegunde Mr.C. Owonifari 9 Ise Comp. Snr. H/S, IseEkiti Apr.2006- Jul.,2008 1,247,932.45 - 1,247,932.45 Mr. S. Olowolafe Mr.S. Ekundayo 10 OgbeseSnr. H/S, IseEkiti Dec.2006- Jun.2008 3,029,276.47 - 3,029,276.47 Mr. O. Faturoti Mr.M. A. Afuye 11 Ise Comp. Jnr. H/S Mar. 2008 27,759.61 - 27,759.61 Mr E.O.Ojo Mr. E.M Asubiojo 12 Akinluse Com. Snr. H/S, IseEkiti Feb. – Mar. 2008 136,486.69 96,000.00 40,486.69 Mr.B.O. Alabi Mr.Anjorin 13 Comm. Snr. OrunEkiti May 2008 20,000.00 20,000.00 - Mr.Oyebanji Mr. S.M Faaji 14 Comm. Ser. H/S, AyegbajuEkiti July 2006 81,724.16 82,210.00 (484.84) Mr. M.A Onurin Mr.Owolabi Rec. 31/11/06 15 Itaji Comm. Snr. Girl/S, ItajiEkiti Apr. – Jun. 2008 300,464.08 300,000.00 464.08 Mr.Ogunleye Mr.Odeyem i 16 St. Augustine Com. OyeEkiti April 2008 46,264.26 46,264.26 Mr. A.T. Ogunruku D.O. Fashiku 17 Unity Jnr. H/S, OgotunEkiti Nov. 2006 23,989.24 24,000.00 (11.00) Mr Ayeni Mr.Ayeni Rec. 25 18 Omoeleye Jnr. H/S, IgbaraOdoEkiti Jun. 2008 201,000.00 202,000.00 (1,000.00) Mr. G.A. Jegede Mr.Akinluy a Rec 19 IlaweSnr. H/S, IlaweEkiti May 2008 59,029.78 50,000.00 9,029.78 Mr. F.B. Babalola Mr.Ogunley e
  44. 44. 44 20 Mary Hill Boys H/S, Ado Ekiti Mar.2006- Mar. 2008 112,773.91 112,773.91 - Mr R.O.Fajenb ola 21 Ikere Jnr. H/S, IkereEkiti Jul-Dec. 2007 302,080.68 101,700.00 200,380.68 Mr.Olatunji& Mr.Olajide Amos Kolawole 22 A.C. Comp. Jnr. H/S, IkereEkiti (I) Mar – Jun. 2008 482,896.89 255,140.00 227,756.89 Mrs. F.W. Anifowose Mr H.F Balogun 23 A.C Comp. Jnr. H/S IkereEkiti (II) Apr. 2006 – Feb. 2008 822,451.02 - 822,451.02 Mrs. F.W. Anifowose Mr H.F Balogun 24 Emure Model Jnr. H/S, EmureEkiti Mar. – May 2008 178,663..50 150,000.00 28,663.50 - Mrs. W.O. Arinde 25 EporoSnr. H/S, EporoEkiti May 2008 43,510.00 60,000.00 (16,490.00) - Mr. E.A Oyewole 26 IjalokeSnr. H/S, EmureEkiti Feb. 2008 20,290.00 20,000.00 290.00 - Mr.Ogunda re 27 St Michael’s Cath. Jnr. G/S, EfonEkiti Feb – May 2008 239,996.52 - 239,996.52 Mr.T.T. Oladeji 28 EfonSnr. H/S, EfonEkiti Feb-May 2008 275,880.98 275,000.00 (111.02) Mr.Adeniyi Mr.O. Adesola 29 Iloro Com. Jnr. H/S, IloroEkiti 2006 L/B & Feb. 2008 37,004.44 - 37,004.44 Mr F.F. Ojo Mr.D.O. Adeosun 30 Ekamefa Com. Snr. H/S, Ape AraEkiti June, 2008 60,748.38 61,000.00 (251.62) Mr. S.A Ogunleye Mr.J.O. Faola 31 Odoowa Com. H/S, OdoowaEkiti May – June 2008 199,007.17 - 199,007.17 Mr. J.O. Kolawole Mr.I.OAfpla bi 32 Ipoti Jnr. H/S, IpotiEkiti May - June 2008 129,952.22 - 129,952.22 Chf. J.A.Ajiteru Mr.J.O. Adeogun 33 IpotiSnr. H/S, IpotiEkiti June 2008 76,314.55 - 76,314.55 Mr. W.B. Ojo Mr.L.OAgu nbiade 34 Ijanmodu Comp. H/S, IjanEkiti Jan. 2007 25,017.02 - 25,017.02 Mr.Oguntime hin Mrs.O.AAki nyede 35 Aisegba Com. Jnr. H/S, AisegbaEkiti May 2007 – Mar. 2008 1,140,074.18 189,000.00 951,074.18 Mr.Aruleba Mr.F. Asepari 36 Ileowuro Jnr H/S AgbadoEkiti Jul. 2006 80,484.74 - 80,484.74 Mr. J.O. Agbebami Mr.A. Adaramodu 37 Ayeteju Com. Jnr. H/S, IroEkiti Feb. – Jul. 2007 226,678.64 - 226,678.64 - - 38 Edu Jnr. H/S, ErioEkiti May 2008 50,000.00 - 50,000.00 Mr.Onipede Mrs.Omotol a 39 Edu Jnr. H/S, ErioEkiti May 2008 18,317.39 20,000.00 (1,682.61) Rev. E.A. Ige Mr.W.O. Fagbamila
  45. 45. 45 40 Aramoko Jnr. H/S, Aramoko May 2008 50.000 - 50.000 ? ? 41 OloketuyiMem. Jnr. H/S, IgbemoEkiti Sept. 2006 16,286.71 - 16,286.71 Mrs. Awe Mrs.R.SOjo 42 Egirioke Jnr. H/S, IyinEkiti Jun. 2007 – Mar. 2008 312,260.67 - 312,260.67 Elder Fadore AdemiluaOj o 43 Eyemote Jnr H/S, IyinEkiti May, 2008 44,112.36 - 44,112.36 Mrs.Adewale Mrs.Aluko 44 Iworoko CHS, IworokoEkiti Mar. 2008 71,916.34 - 71,916.34 Chf. Bamigboye Mrs.Aguda 45 Ekiti Bapt. Jnr H/S IgedeEkiti Apr. – May 2008 300,000.00 300,000.00 - Mrs M.A. Jegede Adeosun 46 AmunuSnr. H/S, OmuoEkiti Oct. 2006 – Jan. 50,672.30 - 50,672.30 - Mr.Fadipe 47 Ekamefa Comp. Jnr. H/S, IlasaEkiti May 2006, Nov. 2007 & Oct. 2008 47,362.66 - 47,362.66 Mr.Bolarinwa J.B. Aladesuyi 48 Obedu Com. Snr. H/S, IsinbodeEkiti Jan. 2007 & Feb. 2008 71,880.94 - 71,880.94 Mr.Oloodoye Mr.Odetoy e 49 OmuokeSnr. H/S, OmuoEkiti Nov – Dec. 2006 75,262.30 - 75,262.30 - Mr.P.S. Akeju TOTAL 13,633,582.70 2,361,010.00 11,271,572.70
  46. 46. 46 APPENDIX ‘F’ LIST OF AUDITED SCHOOLS 2014/2015 ACADEMIC SESSION S/NO NAMES OF SCHOOLS DATE 1 Christ School, Ado-Ekiti 31st August, 2015 2 Ado Grammar School, Ado-Ekiti 31st August, 2015 3 Mary Hill Boys High School Ado-Ekiti 31st August, 2015 4 Muslim Grammar School, Ado-Ekiti 31st August, 2015 5 C.A.C Comp. High School, Ado-Ekiti 31st August, 2015 6 OkunsusiJemiriye High School, IgedeEkiti 31st August, 2015 7 Christ Girls School, Ado-Ekiti 31st August, 2015 8 Mary Immaculate Grammar School, Ado-Ekiti 31st August, 2015 9 Anglican Grammar School, Ado-Ekiti 31st August, 2015 10 Are/Afao Comp. High School, Are-Ekiti 31st August, 2015 11 Eyemote Comp. High School, Iyin- Ekiti 31st August, 2015 12 Igbemo Comp High School, Igbemo-Ekiti 31st August, 2015 13 All Souls Anglican Comp. High School, Ado-Ekiti 31st August, 2015 14 Ola-Oluwa Muslim Grammar School , Ado-Ekiti 31st August, 2015 15 Awo Community Comp. High School, Awo-Ekiti 31st August, 2015 16 Baptist Comp. High School, Ado-Ekiti 31st August, 2015 17 Ado Community High School, Ado-Ekiti 31st August, 2015 18 Iworoko Community High School, Iworoko-Ekiti 31st August, 2015 19 A.U.D. Comp. High School, Ado-Ekiti 31st August, 2015 20 Ayede Grammar School, Ayede-Ekiti 31st August, 2015 21 OyeEgbo High School, Oye-Ekiti 31st August, 2015 22 Ayegbaju Community High School, Ayegbaju-Ekiti 31st August, 2015 23 A.U.D. High School, Ire-Ekiti 31st August, 2015 24 Osin Community High School, Osin-Ekiti 31st August, 2015 25 Ifelodun Community High School, Ikun/Araromi 31st August, 2015
  47. 47. 47 26 Ileowuro High School, Agbado-Ekiti 31st August, 2015 27 OmuoOke High School, Omuo-Oke-Ekiti 31st August, 2015 28 Ujilogun High School, Ilupeju- Ijan-Ekiti 31st August, 2015 29 Community Grammar School Kota-Ekiti 31st August, 2015 30 Omuo Comp. High School, Omuo-Ekiti 31st August, 2015 31 Aisegba Community High School, Aisegba-Ekiti 31st August, 2015 32 Omuo Ore Secondary School, Omuo-Ekiti 31st August, 2015 33 Amunu Comp. High School, Omuo-Ekiti 31st August, 2015 34 Ayo Daramola Memorial High School, Ijan-Ekiti 31st August, 2015 5835 Ekamefa Community Grammar School, Ilasa-Ekiti 31st August, 2015 36 Isedo Comp. High School, Omuo- Oke-Ekiti 31st August, 2015 37 Obedu Community Grammar School, Isinbode-Ekiti 31st August, 2015 38 Eda Ile Community High School, Eda Ile 31st August, 2015 39 IroAyeteju Comp. College, IroAyeteju-Ekiti 31st August, 2015 40 Methodist High School, Egbe –Ekiti 31st August, 2015 41 Sola Babalola Memorial High School, Iro –Ekiti 31st August, 2015 42 Ojugbaye Comp. High School, Imesi-Ile, Imesi Ile-Ekiti 31st August, 2015 43 Ijanmodu Comp. High School, Ijan-Ekiti 31st August, 2015 44 Ode High School, Ode –Ekiti 31st August, 2015 45 Community Grammar School, Ilumoba-Ekiti 31st August ,2015 46 Methodist High School, Isinbode-Ekiti 31st August, 2015 47 Aisegba Comp. High School, Aisegba-Ekiti 31st August, 2015 48 C.A.C Comp. High School, Ijero-Ekiti 31st August, 2015 49 Ijero High School, Ijero-Ekiti 31st August, 2015 50 Orisunmibare Comp. High School, Ijero-Ekiti 31st August, 2015 51 Ara Comp. High School, Ara-Ekiti 31st August, 2015 52 Ekameta Community High School, Epe-Ekiti 31st August, 2015 53 EsoObe Comp. High School, Ikoro-Ekiti 31st August, 2015
  48. 48. 48 54 Babatope Memorial High School, Ikoro-Ekiti 31st August, 2015 55 Ipoti Community High School, Ipoti- Ekiti 31st August, 2015 56 Iloro High School, Iloro-Ekiti 31st August, 2015 57 Corpus Christ College, Ilawe-Ekiti 31st August, 2015 58 Ilawe Grammar School, Ilawe-Ekiti 31st August, 2015 59 Oniwe Comp. High School, Ilawe-Ekiti 31st August, 2015 60 United High School, Ilawe-Ekiti 31st August, 2015 61 Community High School, Igbara-Odo-Ekiti 31st August, 2015 62 Alarelu Comp. High School, Igbara-Odo-Ekiti 31st August, 2015 63 Omoleye Comp. High School, Igbara-Odo-Ekiti 31st August, 2015 64 Ogotun Unity High School, Ogotun-Ekiti 31st August, 2015 65 Ojorube Grammar School, Ogotun-Ekiti 31st August, 2015 66 Community High School, Oke-Ako-Ekiti 31st August, 2015 67 Ayebode High School, Ayebode-Ekiti 31st August, 2015 68 Odo Oro High School, Odo-Oro-Ekiti 31st August, 2015 69 Irele Community High School, Irele-Ekiti 31st August, 2015 70 Holy Apostolic High School, Ikole-Ekiti 31st August, 2015 71 Odundun High School, Ayedun-Ekiti 31st August, 2015 72 Ikole City College, Ikole- Ekiti 31st August, 2015 73 Community High School, Orin Odo –Ekiti 31st August, 2015 74 Irepodun High School, Ipao-Ekiti 31st August, 2015 75 Usi High School, Usi-Ekiti 31st August, 2015 76 Methodist Girls High School,Ifaki-Ekiti 31st August, 2015 77 Ora Community High School, Ora-Ekiti 31st August, 2015 78 Elo High School, Ayetoro-Ekiti 31st August, 2015 79 Ifaki Grammar School, Ifaki-Ekiti 31st August, 2015
  49. 49. 49 80 EkitiParapo College, Ido-Ekiti 31st August, 2015 81 Orin High School, Orin-Ekiti 31st August, 2015 82 Osi Community High School, Osi-Ekiti 31st August, 2015 83 Notre Dame Grammar School, Usi-Ekiti 31st August, 2015 84 Ifinsin High School, Ifinsin-Ekiti 31st August, 2015 85 Igogo Community High School, Igogo-Ekiti 31st August, 2015 86 Ilejemeje Community High School, Ilejemeje-Ekiti 31st August, 2015 87 SaliuAdeoti Memorial Comp. High School, Otun-Ekiti31st August, 2015 88 Moba Grammar School, Otun-Ekiti 31st August, 2015 89 Ikosun Comp. High School, Ikosun-Ekiti 31st August, 2015 90 Ipere Comp. High School, Ipere-Ekiti 31st August, 2015 91 Ijesamodu Comp. High School, Ijesamodu-Ekiti 31st August, 2015 92 Eyemojo Comp. High School, 0san-Ekiti 31st August, 2015 93 Oniyo Grammar School, EdaOniyo-Ekiti 31st August, 2015 94 Iludun Community High School, Iludun-Ekiti 31st August, 2015 95 Epe Community High School, Epe-Ekiti 31st August, 2015 96 Ikogosi High School, Ikogosi-Ekiti 31st August, 2015 97 Fabunmi Memorial High School, Oke-Mesi-Ekiti 31st August, 2015 98 St. Micheal Catholic Grammar School, EfonAlaaye 31st August, 2015 99 Okemesi High School, Okemesi-Ekiti 31st August, 2015 100 EfonAlaaye High School, EfonAlaaye 31st August, 2015 101 Edu High School, Erio-Ekiti 31st August, 2015 102 Erin Ayonigba High School, ErinjiyanEkiti 31st August, 2015 103 Community High School, Aramoko –Ekiti 31st August, 2015 104 IpoleIloro High School, IpoleIloro-Ekiti 31st August, 2015 105 C.A.C Grammar School, EfonAlaaye 31st August, 2015 106 Ile Ona Community High School, Aramoko –Ekiti 31st August, 2015 107 Erijiyan Community High School, Erijiyan –Ekiti 31st August, 2015
  50. 50. 50 108 Ekiti State Government College, Usi-Ekiti 31st August, 2015 109 Ekiti-State Government College, EfonAlaaye 31st August, 2015 110 Ekiti-State Government College Ikere-Ekiti 31st August, 2015 111 Ekiti State Government College, Ado-Ekiti 31st August, 2015 112 Ekiti State Government Science College, Ayede-Ekiti 31st August, 2015 113 Ekiti State Government Science College, Iyin-Ekiti 31st August, 2015 114 Ekiti State Government College, Emure-Ekiti 31st August, 2015 115 School for the Blind Ikere-Ekiti 31st August, 2015 116 Ekiti State School for the Deaf, Ikoro-Ekiti 31st August, 2015 117 Ekiti State School For Physically Challenged, Ido-Ekiti 31st August, 2015 118 Ekiti State Technical College Ikole-Ekiti 31st August, 2015 119 Ekiti State Technical College, Otun- Ekiti 31st August, 2015 120 Ekiti State Technical College, Ijero-Ekiti 31st August, 2015 121 Ekiti State Technical College, Igbara-Odo-Ekiti 31st August, 2015 122 Ekiti State Technical College, Ado-Ekiti 31st August, 2015 123 Ekiti State Government College, Oye-Ekiti 31st August, 2015 124 A.U.D. Comp. High School, Ikere- Ekiti 31st August, 2015 125 Akinluse Comp. High School, Ise-Ekiti 31st August, 2015 126 Ogbese Comprehensive High School, Ogbese-Ekiti 31st August, 2015 127 Obada High School, Ise-Ekiti 31st August, 2015 128 Orija High School, Emure- Ekiti 31st August, 2015 129 Amoye Grammar School, Ikere-Ekiti 31st August, 2015 130 Ise Comprehensive High School, Ise-Ekiti 31st August, 2015
  51. 51. 51 LIST OF OUTSTANDING SCHOOLS 2014/2015 ACADEMIC SESSION WORK IN PROGRESS 1 Egiri-Oke High School, Iyin-Ekiti 2 Ikingbinsin/Olorunda Community Grammar School, Ado-Ekiti 3 Iropora High School, Iropora- Ekiti 4 Esure Community High School, Esure-Ekiti 5 Ogunire Comprehensive High School, Ire-Ekiti 6 Itaji Community High School, Itaji-Ekiti 7 Doherty Memorial Grammar School, Ijero-Ekiti 8 Ijurin Comprehensive High School, Ijurin-Ekiti 9 Odo-Owa Comprehensive High School, Odo-Owa-Ekiti 10 Ipoti High School, Ipoti-Ekiti 11 Ogotun High School, Ogotun-Ekiti 12 Ilogbo High School, Ilogbo-Ekiti 13 Ojo-Ugbole High School, Igbole-Ekiti 14 Oganganmodu High School, Ido-Ekiti 15 Methodist Comp. High School, Aaye-Ekiti 16 Aramoko District Commercial Grammar School, Aramoko-Ekiti 17 Anglican High School, EfonAlaaye 18 Apostle Babalola Memorial High School, EfonAlaaye 19 Ifelodun Comprehensive High School, Igogo-Ekiti 20 African Church Comprehensive High School, Ikere-Ekiti 21 Eleyo High School, Ikere-Ekiti 22 Ikere High School, Ikere-Ekiti 23 Orun Community Grammar School, Ise/Orun-Ekiti 24 Annunciation High School, Ikere-Ekiti 25 Irepodun High School, Ikere-Ekiti
  52. 52. 52 26 United High School, Ise-Ekiti 27 Arinjale Comp. High Ise-Ekiti 28 Emure Model High School, Emure-Ekiti 29 Eporo High School, Emure-Ekiti 30 Ajolagun High School, Ikere-Ekiti 31 St Louis Grammar School, Ikere Ekiti
  53. 53. 53 LIST OF SCHOOLS NOT AUDITED 2014/2015 1 Ekiti Baptist High School, Igede-Ekiti 2 Eyio Community High School, Eyio-Ekiti 3 Oloketuyi Grammar School, Igbemo-Ekiti 4 St. Augustine Comp. High School, Oye-Ekiti 5 Ilupeju High School, Ilupeju-Ekiti 6 Omu-Ijelu High School, Omuo-Ekiti 7 Obalatan Commercial Grammar School, Ilupeju-Ekiti 8 Itapa/Osin Community High School, Itapa-Ekiti 9 Isan Grammar School, Isan-Ekiti 10 New Era College, Ode-Ekiti 11 Oke-Oro/Iroko Community High School,Oke-Oro-Ekiti 12 Ilukuno Community High School, Ilukuno-Ekiti 13 Ayegunle High School, Ayegunle-Ekiti 14 Ayetoro/Iloro High School, Iloro-Ekiti 15 A.U.D. High School, Ikole-Ekiti 16 Ara Community High School, Ara-Ekiti 17 Egbeoba High School, Ikole-Ekiti 18 Fiyinfolu Comp. High School, Ayedun-Ekiti 19 Ijesa-Isu Comp. High School, Ijesa-Isu-Ekiti 20 Iyemero Community High School, Iyemero-Ekiti 21 St .Mary, Girls Grammar School, Ikole-Ekiti 22 Itapaji High School, Itapaji-Ekiti 23 Ewu Comp. High School, Ewu-Ekiti
  54. 54. 54 24 Amure High School, Ikun-Ekiti 25 Erinmope High School, Erinmope-Ekiti 26 Aaye-Oja Community High School, Aaye-Oja-Ekiti 27 Osun Grammar School, Osun-Ekiti 28 Alamoye Comp. High School, Aramoko-Ekiti 29 Ajinare High School, Ido-Ile-Ekiti 30 AdetunjiAjayi Comp. High School, Ise-Ekiti 31 Ijaloke High School, Emure-Ekiti
  55. 55. 55
  56. 56. 56

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