Fayemi lifts embargo on Ecobank, GTB, Zenith Bank

Kayode Fayemi, governor of Ekiti, has lifted an embargo placed on Guaranty Trust Bank, Zenith Bank and Ecobank from operating in the state.

Ayodele Fayose, immediate past governor of the state, had in 2016 ordered a non-patronage of the banks following the freezing of his accounts by the Economic and Financial Crimes Commission (EFCC)

In a statement signed on Sunday by Yinka Oyebode, press secretary to Fayemi, all ministries and agencies in the state have been directed to resume patronage of the banks.

The statement read: “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.

“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.”