The immediate past Minister of Solid Minerals Development and the All Progressives Congress (APC) candidate in the coming Ekiti State Governorship election Dr Kayode John Fayemi, has bought a palatial property at the Ikeja Government Reserved Area, GRA, Lagos.
The property according to sources is worth N1.2 billion.
The property is located at Tayo Ayeni Street, and bounded by Oduduwa Crescent and Ladipo Bateye Street.
Fayemi bought the mansion from Mr. Tayo Ayeni, the Chairman of Skymit Motors.
Negotiation for the property started before the APC primary election which turned rowdy at Ado-Ekiti. The primary was later rescheduled and Fayemi won.
The Minister was seen driving into the palatial house at exactly 5.56pm on Friday, May 18, 2018 with his security aides. He wore a black kaftan with his trademark cap.
This building is about 500 yards from the Ekiti Liaison Office on Oduduwa Crescent, which has turned into an abandoned property for more than five years. During his tenure as Ekiti governor, Fayemi secured a N25 billion bond which his government stated was for the development of infrastructure in Ekiti. N2.5 billion out of the bond was earmarked for the building of the Liaison Office.
Despite the fact that the Ekiti building was not completed, Fayemi, immediately after leaving office as governor, bought a property on the same Oduduwa crescent which he used as both office and home, before acquiring the new house.
No 58, Oduduwa Crescent is on the upper part of the street. It contains a twin duplex. While one serves as office for both Fayemi and his wife, the other serves as residence. He still had a meeting with a team of selected journalists and editors at the office last Friday evening.
Sources revealed that Fayemi bought his new property from funds he received from friends of President Muhammadu Buhari to aid his governorship campaign. Two leading Nigerian businessmen of northern extraction were said to have given him substantial amount of money to prosecute the election campaign. One gave him N2 billion, while the other dolled out $5 million.
One of the sources, a prominent aide of the APC candidate said he is comfortable buying the property since he had been assured of more funds as the election approaches.
A budget of N25 billion was reportedly presented to President Buhari by Fayemi to prosecute the July 14 election.
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