Zenith Bank Denies Fayose’s Claim, Releases Official Statement [READ HERE]

A month after the Ekiti State governor, Ayodele Fayose, claimed Zenith Bank Plc chiefly bankrolled his 2014 election, the financial institution has released an official statement as regards the claim.

Zenith Bank in the statement released to the Nigerian Stock Exchange, NSE, clarified that it did not sponsor the governor’s election campaign as alleged by Fayose. The bank noted that its policy was against political donations and as such did not make an exception for the Ekiti State governor.

According to the statement, the bank averred that, “The issue involved in this case has to do with investigation bordering on the account of the governor of Ekiti State by the Economic and Financial Crimes Commission, EFCC.

The bank was never a party to the matter.

“The Economic and Financial Crimes Commission, 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.

“Zenith Bank 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. 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.

The bank’s only branch in Ekiti State predates the assumption of office of the current administration,” the bank claimed. It added: “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.

“Zenith Bank management would like to reassure and state that it will continue to conduct its business in line with best practices and extant banking laws and regulations,” it concluded.