Governor Ayodele Fayose of Ekiti State has said the state was in the process of filing a suit against some banks he said granted loans to the administration of ex-Governor Kayode Fayode without due process.
Fayose, who gave the hint while addressing monarchs in the state during a meeting on Thursday, said “We don’t know where the funds ended or entered”.
At the meeting, it was learnt that the monarchs agreed to pray and work for the revival of the finances of the state while also urging government to increase the drive for internally generated revenue.
Gov. Fayose lamented that dialogue with the affected banks had failed, adding that they had tagged Ekiti as insolvent and wouldn’t grant the state loans.
He said, “We are currently entering legal action against some banks because of some of the loans they gave the state, we don’t know where they entered. They granted some loans without due process. The banks have been approached but they are not willing to cooperate.
“So, what we are doing now is to approach the courts to seek a legal redress”.