State Auditor's General's Report for year 2015

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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.

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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.

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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.

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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.

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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

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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

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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

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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:

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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
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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

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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.

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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

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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.

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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.

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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,

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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

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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
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
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
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 -
CAPITAL RELEASES TO MINISTRIES/DEPARTMENTS/AGENCIES
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 -
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
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
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
OVERHEAD COSTS
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)
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
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
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
(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
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
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
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
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
(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.
(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
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
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
(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
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.
(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
(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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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

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