Zenith Bank denies funding Fayose’s election | Bizness Watch

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Zenith Bank denies funding Fayose’s election

 Nigerian Commercial lender, Zenith Bank, has denied funding the election of Ekiti State Governor, Ayodele Fayose.In a statement signed by its Head of Corporate Communication on Monday, Zenith Bank said it did not fund Fayose’s election or any other election in the country.


Just last month, Fayose had challenged the management of Zenith Bank Plc to officially deny that the bank funded  his election in 2014.

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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