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Zenith Bank Denies Involvement in Funding Fayose’s Governorship Election

Politics & Good Governance

Zenith Bank Denies Involvement in Funding Fayose’s Governorship Election


Nigeria’s leading commercial bank, Zenith Bank has issued out a public statement on the alleged claim made by the Ekiti-State governor Ayodele Fayose that the bank fund his governorship election in 2014.
Zenith Bank Plc issued the following press release about the recent scandal involving their Branch Manager and the Ekiti State Government; Zenith Bank claim that the EFCC wrote the bank during the course of their investigation and asked that they close the account.

Zenith Bank claimed that they did not fund any election in Ekiti State. The bank also claimed that it does not hold any “Business Account” of Ekiti State.

The Economic and Financial Crimes Commission(EFCC) has been on the governor’s tail after investigations linked him to the $2.1 billion arms money reportedly diverted by the former Goodluck Jonathan administration.

Shortly after, the anti-graft body froze the personal accounts of Governor Fayose and those of some of his associates. Governor Fayose has since denied the allegations, accusing the EFCC of being corrupt.

See full statement below:

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 enquires and also directed that the bank temporarily suspend operations on the account pending conclusion of the investigation, 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. 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.



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