Faleye was accused of incompetence and refusal to call a meeting of the State Executive Committee since assuming office in 2014.
The Vice Chairman of the party in Ekiti North Senatorial District, Olatunde Olatunde, who announced the sack, said he (Olatunde) had been elected by the State Executive Committee to step into Faleye’s shoes.
Olatunde, who disclosed the new change to journalists in Ado Ekiti on Wednesday, alleged that Faleye was removed from office on Tuesday at a meeting called by two-third of the SEC members.
But Faleye said he remained the constitutionally recognised chairman of the party in the state, having been ratified by both the state and national executive committees of the party.
Faleye alleged that he was being persecuted because of his refusal to sign a cheque for N11 million as six months honorarium for SEC members.
Faleye was chosen to replace Makanjuola Ogundipe following his elevation to the position of the Chairman of the South West zone of the party in 2014.
Olatunde, who spoke along with the Public Relations Officer of the party, Chief Joseph Daraniwon, however, said the state Governor, Ayo Fayose, had not been officially informed of the development.
He promised to brief Fayose before the week runs out.
Olatunde dismissed the insinuation that the new change is a fallout of the skirmishes between Fayose and the National Chairman of the party, Alhaji Adamu Mu’azu, over the bad outing of the party in the last general election.
Olatunde added: “We discovered some errors in the appointment of Idowu Faleye following the elevation of Mr. Ogundipe as the Chairman of the party in the South West.
“He was removed for inefficiency and again he has not called a meeting since he was appointed as acting chairman.
“We also discovered that Faleye came from the same Ido Ward 1 in Ido Osi Local Government where the Youth Leader of the party also hails from.
“As at that time, he was not elected and the SEC has not ratified his appointment.
“We told him all these at our meeting on Tuesday and he willingly stepped down after thanking us.”
Responding to a question on the possibility of the new development generating a friction between the executive of the party and Fayose, Olatunde said: “I don’t foresee any crisis but if there are issues, we are ready to solve them.
“But this step is to make the party stronger.”
Responding to his purported sack, Faleye maintained that only the National Working Committee of the party could either query or sack him from office, adding that nobody else could.
Faleye said: “We least expected this.
“I am the recognised party chairman in Ekiti.
“As a national executive committee member, nobody has such power at the state level to do such a thing.
“Before anybody is suspended, there are processes to be followed but such were not followed.
“The only thing they said was that I should sign a cheque of N11 million for their six months honorarium but I said no, they should wait until I get clearance from the leaders of the party.”
Faleye also dismissed allegations of incompetence and not calling meetings.
He said he had held several responsible positions before now, adding that there were also minutes to show that SEC under him met every week.