Home News Finally, Ekiti Government Lifts Embargo On GTBank, Ecobank,Zenith Bank

Finally, Ekiti Government Lifts Embargo On GTBank, Ecobank,Zenith Bank

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Ministries, Departments and Agencies (MDAs) as well as civil servants in Ekiti state are now free to bank with all financial institutions in the state as the state governor, Dr. Kayode Fayemi, has lifted the embargo placed on some banks by the immediate past administration.

Former Governor Ayodele Fayose-led administration had in May 2016 placed a “non-patronage” ban on three banks, namely: GTbank, Ecobank and Zenith Bank Plc and forbade government 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 all MDAs to 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, Mr. 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