Zenith Bank releases official statement on alleged funding of Ekiti election

Zenith Bank has said that it neither funded the governorship election of Ekiti State as alleged by Governor Ayodele Fayose nor indeed any other election in the country because as a matter of policy the bank does not make political donations nor fund any political association or party.

In a letter released on Monday to the Nigerian Stock Exchange (NSE), the bank said, that as a foremost financial institution, it maintains a very cordial relationship with the authorities of all its host states where it has business offices including Ekiti State. Adding that its only branch in Ekiti State predates the assumption of office of the current administration of Governor Fayose.

It also said that since 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 reassured and stated that it would continue to conduct its business in line with best practices and extant banking laws and regulations.

See the attached statement they released:

The letter reads:

“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.

“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,” the bank said.