Fayemi lifts ’embargo’ on Ecobank, GTbank, Zenith Bank

Dr Kayode Fayemi, newly elected governor of Ekiti State [Pic: Pulse.ng]
Dr Kayode Fayemi, governor of Ekiti State [Pic: Pulse.ng]

The Ekiti State Governor, Kayode Fayemi, has lifted the embargo placed on some banks by the immediate past administration.

The Fayose-led administration had in May 2016 placed a “non-patronage” ban on three banks- Ecobank, GTbank and Zenith Bank Plc and forbade government Ministries, Departments and Agencies (MDAs) as well as workers from transacting business with them.

Governor Fayemi in quashing the directive on the embargo, earlier in the month, also directed that all MDAs should resume patronage of all the banks immediately.

Consequently, the office of the State’s Accountant General has issued a memo to all heads of MDAs to give effect to the Governor’s directive lifting the ban.

According to a statement by the Chief Press Secretary to the Governor, Yinka Oyebode, the embargo was lifted in a bid to rekindle and strengthen the age-long relationship between the affected banks and the state government.

Government took the decision after a careful review of the developments that led to the purported embargo by the immediate past administration.

The Fayemi administration is committed to the infrastructural and industrial development of the state. In achieving this, it will create a conducive atmosphere for business to thrive in the state by partnering with the private sector and encouraging private initiatives, among others, the statement added.

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