The panel was as a result of a resolution of the state’s House of Assembly, which asked the state governor, Mr. Ayodele Fayose, to set up the panel after its invitations to Dr Fayemi were allegedly ignored.
The body is to look into the finances of the state between 2010 and 2014 when Fayemi, who is currently serving as the Minister of Mines and Steel Development, served as the governor of the state.
The Chairman of the Commission, Justice Bamidele Oyewole (rtd), highlighted the terms of reference of the body, saying they included “ascertaining the actual amount that accrued to the state as statutory allocations from the federation account and all relevant financial transactions of the state during the period under review.”
Justice Oyewole added that the commission also had the mandate “to investigate the allegations of fraud, diversion and conversion of funds related to the Universal Basic Education Commission (UBEC).”
According to him, the commission would find out the exact amount received on behalf of the state under the scheme and how it was expended, adding that the commission was, in addition, authorised to verify the amount obtained as loan by government within the period and how the funds were utilised.
Justice Oyewole assured of the impartiality and transparency of the panel and called for memoranda from the general public with respect to the terms of reference of his commission.
He noted that there was the need for the support of all concerned towards the success of the assignment.
The Commission has three months to conclude its assignment is made up of Mrs. Bolanle Wale-Awe, Chief Magistrate Idowu Ayenimo and a representative of the Labour Unions, Comrade Oladele Blessing.
Other members of the Commission are Mrs. Adesola Oluremi, a Quantity Surveyor; Mr. Vincent Omodara; Barrister Sunday Bamise, Counsel to the Commission and Barrister Gbemiga Adaramola, State Director of Public Prosecutors who will function as Secretary to the Commission.
However, Dr Fayemi had gone to court to challenge the legality of the panel and alleged that the members were ineligible as they were partisan and would not discharge justice.
The matter is yet to come up in court.