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

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Two years after Former Governor Ayodele Fayose stopped Ministries, Departments and Agencies (MDAs) from patronising Zenith Bank, GT Bank and Ecobank, Governor Kayode Fayemi has lifted the embargo.

Governor Fayemi announced the lifting of the embargo placed on the three  banks by the administration of former Governor Ayodele Fayose.

Recall that the Fayose-led administration in May 2016, placed a “non-patronage” ban on the three banks and forbade MDAs as well as workers from transacting business with them.

But in a statement by his spokesman Olayinka Oyebode, the governor directed MDAs to resume transactions with the banks.

Acting on the directive, the Office of the state’s Accountant-General has issued a memo to heads of MDAs to give effect to the governor’s directive lifting the ban.

According to the statement, the embargo was lifted in a bid to rekindle and strengthen the relationship between the affected banks and the state government.

The statement reads: “The 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.”

 

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