Zenith Bank refutes funding Fayose’s election

The management of Zenith Bank Plc, has repudiated funding election of Ekiti State governor, Ayodele Fayose.

The governor in June denied allegations by the EFCC linking him with funds from the Office of the National Security Adviser, saying his 2014 election was funded by Zenith Bank Plc, fund raisers, donations from friends and associates as well as sales of campaign souvenirs.

The bank’s in an information sent to the Nigerian Stock Exchange (NSE) today on alleged funding of Ekiti State Governorship election said, the bank was never a party to the matter.

According to Zenith Bank, “The issue involved in the case has to do with investigation bordering on the account of the governor of Ekiti State by the Economic and Financial Crime Commission (EFCC). The EFCC wrote to the bank, in the course of its investigation to make enquiries and also directed that the bank temporarily suspend operations on the account pending conclusion of investigations which the bank complied with.”

The bank’s affirmed that it did not fund the governorship election of Ekiti State or indeed any other election in the country.

As a policy, the bank does not make political donations or fund any political association or party, it stated.

“Zenith Bank Plc as a foremost financial institution maintains a very cordial relationship with the authorities of all its host states where it has business offices including Ekiti State till date.
The banks only branch in Ekiti State predates the assumption of office of the current administration. Moreover, the bank does not hold any business account of Ekiti State till date. There was therefore, no incentive to fund the election as alleged”, the bank stressed..

The management of the bank however reassured and state that it would continue to conduct it’s business in line with best practices and extant banking laws and regulations.