Zenith Bank has categorically denied any part in the funding of the 2014
governorship election effort of now Ekiti State governor, Ayo Fayose.
In a letter of Disclosure to the Nigerian Stock Exchange (NSE), the bank
said it did not fund the election which returned Fayose to power as
governor, nor any other election in the country.
Zenith Bank has categorically denied any part in the funding of the
2014 governorship election effort of now Ekiti State governor, Ayo
Fayose.
In a letter of Disclosure to the Nigerian Stock Exchange (NSE), the bank said it did not fund the election which returned Fayose to power as governor, nor any other election in the country.
“As a policy the bank does not make political donations or fund any
political association or party,” it said in response to an
administrative inquiry by the NSE.
It added that as a financial institution, it only maintains a
very cordial relationship with the authorities of all States where it
has business offices, including Ekiti.
“The bank's only branch in Ekiti State predates the assumption of
office of the current· Administration,” it noted. “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 stated that it will continue to conduct its
business in line with best practices and extant banking laws and
regulations.
It would be recalled that on June 22, Governor Fayose declared that
his governorship run had been funded by Zenith Bank Plc and other
private donors as he tried to challenge claims by the Economic and
Financial Crimes Commission that funds of the office of the former
National Security Adviser, Sambo Dasuki (retd), had been deployed in the
campaign.
In his account, the governor said, “The management of Zenith Bank,
which majorly funded my election, called me to a meeting where I was
assured that the fund would be provided for my election. I was asked to
nominate a trusted ally to be related with and I nominated Mr. Abiodun
Agbele.
“All the payments into Abiodun Agbele’s account domiciled in Zenith
Bank were directly from Zenith Bank…Most of the funds posted into
Agbele’s account were through the Ibadan, Akure and Lagos branches of
the Zenith Bank and sometimes; they brought cash.”
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