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Zenith Bank Provided Funds for My Election – Governor Ayo Fayose



Governor Ayo Fayose

Governor Ayo Fayose

Reacting to reports credited to the Economic and Financial Crimes Commission (EFCC) linking him with funds funds from the Office of the National Security Adviser, Governor Ayo Fayose of Ekiti State has said that funds for his election was provided by Zenith Bank.

The EFCC had said that N1,219,490,000 was flown to Akure Airport on June 12, 2014 to Fayose by a former Minister of State for Defence, Musiliu Obanikoro.

According to PREMIUM TIMES, the governor denied the report in a statement signed by his Chief Press Secretary, Idowu Adelusi.

“I have no financial transaction whatsoever with the Office of the National Security Adviser (ONSA) under Col Sambo Dasuki (rtd) and former Minister of State for Defence, Senator Musiliu Obanikoro either by cash, cheque or electronic transfer.

EFCC is only acting a movie scripted, produced and directed by the All Progressives Congress (APC) government of President Muhammadu Buhari just to silence me being a major opposition voice in the country,” Fayose said.

On the allegations he made against the wife of the president, Aisha Buhari, Fayose said:

It is on record that the President has visited USA three times and his wife did not travel with him. Equally. She ought to have visited USA last year September to chair a United Nations programme but she sent the wife of the Senate President, Toyin Saraki to represent her.

He went to to explain how Zenith Bank provide the funds for his election. 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 Abiodun Agbele.

All the payments into Abiodun Agbele’s account domiciled in Zenith Bank were directly from Zenith Bank.

In actual fact, the account was opened by Zenith Bank hurriedly at that time and Abiodun Agbele’s identity card which ought to have been collected before the account was opened was only collected last week in the bank’s desperation to perfect the account obviously after submitting to the intimidation and harassment of the EFCC.

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.

Assuming but not conceding that cash moved from Lagos to Akure as being claimed by the EFCC in its usual manner of media trial, was meant for my election in Ekiti, why was the cash not moved to Ado Ekiti branch of Zenith Bank or the cash handed to me directly?

Why was it deposited into Zenith Bank, Akure and did the bank make any report
on the transaction to the appropriate authorities? Why did the bank send its bullion van to move the money from Akure Airport to their Akure branch if it was illegal money?

I must say it categorically that I don’t have any link financially with Obanikoro and I know as a fact that he (Obanikoro) has not; and cannot mention my name, as beneficiary of whatever money any company in which he has interest could have gotten from the ONSA if truly Obanikoro collected money from the ONSA as being claimed by the EFCC.

Therefore, bringing Obanikoro and his son’s narrative or that the Zenith Bank is telling different stories, having been blackmailed and coerced into submission by the EFCC is a joke that will not fly.

I wish to state further that if it becomes evidently clear that those who willingly provided money for my election can no longer stand by what they did, may be because of threat from the EFCC, I will not hesitate to name names.

Since we are now in the era in which financial assistance from Nigerians to fund elections is being criminalised, the international community, especially those funding EFCC must insist that the commission probes the funding of APC elections before further funds are released to the commission.

Most importantly, Nigerians are interested in the $60 million allegedly donated to the APC campaign by Sahara Energy, on which EFCC has been forced to suspend investigation.

I advise that they should keep their gun pounder dry and wait till the end of my tenure in 2018 and I want to assure them that I will be available to answer any of their questions, no matter how unreasonable.

Furthermore, Nigerians should know that I have been persecuted by the EFCC before, using phantom N1.2 billion poultry scam and I came out victorious. I was not only acquitted, I got N10 million judgment against the EFCC and my impeachment that was orchestrated by the EFCC was quashed by the Supreme Court.

Nigerians should recall that it was part of this plot to get back at me because of my critical stance on Buhari’s government that the Ekiti State House of Assembly was invaded by men of the Department of State Service (DSS), placement of travel ban on me and lately, illegal restriction placed on account by the EFCC.

I therefore make bold to state that in the overall interest of democracy and well-being of Nigerians, I will continue to speak my mind on issues bordering on governance in Nigeria. I will not be intimidated.


  1. Fani

    June 22, 2016 at 7:36 pm

    This guy is just digging a bigger hole! So banks now fund elections?!Zenith bank has a lot of explaining to do to the shareholders.

    • Damilola

      June 24, 2016 at 1:01 pm

      This is getting good. Fayose, keep talking. One thing I like about him is, he’s a fighter whether you agree with him or not. Nigerian Banks have been funding politicians for a very long time. And of course, Zenith bank will deny it. But at least, we all know now. Corruption is embedded in the nigerian system that you have to unravel first before building it back.
      He should name APC funding machine. One thing, I’m certain of is this administration will make some impact. And the fact that this administration will also be probed by the next one sounds great to me and gives me hope Nigeria is gradually progressing.

      I can only imagine how everybody’s head involved in corruption will be spinning around. They can’t sleep well at night.

  2. Tami

    June 22, 2016 at 7:42 pm

    see his dirty mouth? Can’t believe he thinks this is okay! When young entrepreneurs try and get loans these silly banks will turn them down but they have money to be funding elections? These same banks have been laying off staff economy leaving out willthe money they wasted on such people.

    • seyi

      June 22, 2016 at 8:52 pm

      Let me.go and withdraw my small money with them sharply before they say they have sanction them na. Which kind thing be this. Haba

  3. Ej

    June 22, 2016 at 7:48 pm

    My tots exactly, since when do banks fund elections

  4. nwa nna

    June 22, 2016 at 8:13 pm

    How did this clown Foyose manage to become a governor twice?! This kind of shyte only happens in Nigeria.. So, now banks are now election financiers? There you have people, next time to plan on running for a political office in naija reach out to your bank’s local branch 😀

  5. Dee

    June 22, 2016 at 8:30 pm

    Wow. Oya Zenith Bank, over to you oh.

  6. sista

    June 22, 2016 at 8:30 pm

    … Fayose seems like a very good entertainer. He would ve been a good comedian. I like him. looking forward to more exchange of words or I’ll say epistles

  7. dupsy

    June 22, 2016 at 9:01 pm

    I don’t get what this man is saying – I mean who and I mean ‘Who’? in Zenith Bank sponsored his campaign? Under what arrangement? If a bank loans you money you pay interest for the money they loaned you until you fully repay the loan. So under what agreement did the bank agree to loan out such a huge amount of money to Fayose? What did he promise the bank in return for giving him such a huge amount of money ( I am talking about interest percentage on the money) as well as the arrangement to pay back the money ( where was he thinking of getting the money to pay back Zenith Bank – may be he already has emptied the coffers of Ekiti State and this explains why they can pay the state government salaries) – everything Fayose said doesn’t just add up he is just digging a greater hole for himself! How can a bank fund a political campaign?

  8. dupsy

    June 22, 2016 at 9:05 pm

    This Buhari regime is really interesting! So many smelly things are just popping out left right and center. This tells us that we as Nigerians still have a lot of soul searching to do in order to move this great but right now paralyzed and very sick country forward. I hope that those in government now know that once they are gone they would definitely be probed!

  9. Engoz

    June 22, 2016 at 10:01 pm

    Fayose will soon start begging in 1,2,3….
    Zenith bank has reportedly rejected him.

  10. mela

    June 22, 2016 at 10:07 pm

    Stories that touch….there’s nothing we won’t hear in this our dear fantastically corrupt nation….Banks now sponsor elections…kudos to Zenith bank!

  11. Naijatalk

    June 22, 2016 at 10:14 pm

    Wonders upon wonders in Nigeria. This is good. Keep singing Fayose…..

  12. Jani

    June 23, 2016 at 3:18 am

    Fayose may have a point here. Nigerian banks have been funding political campaigns since kingdom come, the payback is getting lucrative accounts. If the government was not so famtastically corrupt and fantastically malicious they should tell Nigerians the exact source and routes of BOTH the political parties campaign funds. Also, WHO exactly is in charge of the proclaimed recovered funds? Where are they kept? TSA?

    • Hmm

      June 23, 2016 at 7:36 am

      So you support the banks doing this?

    • Yeyeperry

      June 23, 2016 at 7:52 am

      @Jani what are you saying? The money in question was not said to be loan repayment. Not by the bank or EFCC. So even if he is paying the bank back, his state workers should die of hunger?

  13. Susu

    June 23, 2016 at 8:04 am

    These are the dangers of entering into a relationship with an uncouth and uncivil person.
    Banks have always funded elections with the intention of claiming the Faac and Jaac accounts and both parties keep a lid on it.
    Zenith don buy bad market;
    Dear EFCC, extends your dragnet to probe all sitting politicians election funds. The outcome would be mind blowing.

  14. Moyo

    June 23, 2016 at 8:15 am

    is this Fayose serious, a bank called him that they will fund the election. Ok we are watching, now that Zenith has denied him, let us hear what he will say again.

  15. Spunky

    June 23, 2016 at 9:01 am

    He spilled with so much confidence. Do we really expect Zenith bank to own up? As smart as they are, it is very much likely for them to cover their tracks to avoid sanctions from the supervisory body. The shareholders won’t care much as long as they get huge bonus and profit share at year end. This is a mess and his outburst should not be taken lightly. Zenith denied such transaction occurred? Drama! Nigeria is fun mennnnnn! No dulling moment.

  16. Grace

    June 23, 2016 at 9:20 am

    I hate Fayose sha…. SMH
    He is just so stupid.

  17. LAW

    July 1, 2016 at 4:56 pm


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