Zenith Bank has dismissed claims that it financed the Ekiti State governorship election as alleged by Governor Ayodele Fayose or any other election in the country, saying as a matter of policy the bank does not make political donations and does not support any political association or party finances.
In a letter released to the Nigerian Stock Exchange (NSE) on Monday, the bank said that as a premier financial institution, it enjoys a very cordial relationship with the authorities of all its host states where it has offices, including Ekiti State. It states that since the bank does not maintain any business account of Ekiti State to date, there was therefore no incentive to finance the elections as alleged. The bank reassured and stated that it would continue to conduct its business in accordance with best practices and existing banking laws and regulations.
The letter reads:
“The issue at stake in this case relates to investigation bordering on the report of the Governor of Ekiti State by the Economic and Financial Crimes Commission (EFCC). The bank has never been a party to this case.”
“The Economic and Financial Crimes Commission (EFCC), in the course of its investigation, has written to the bank to make inquiries and has also directed the bank to temporarily suspend operations on the account pending the completion of the investigations that the bank has complied with.
“Zenith Bank did not finance the Ekiti State governorship election or any other election in the country.
“As a policy, the bank does not make political donations or finance any political association or party….
“Zenith Bank Plc, as a premier financial institution, maintains a very cordial relationship with the authorities of all its host states where it has business offices, including Ekiti State.
“The only branch of the bank in Ekiti State predates the incumbency of the current administration…
“Furthermore, the bank has no business account from Ekiti State to date. There was therefore no incentive to finance the elections, as claimed.
“The management of Zenith Bank wishes to reassure and state that it will continue to conduct its operations in accordance with best practices and existing banking laws and regulations,” the bank said.