WHAT DOES ZENITH BANK WANT IN IMO STATE?
WHAT DOES ZENITH BANK WANT IN IMO STATE?
By Emma Nwoko
Zenith Bank, one of the New Generation banks in Nigeria was founded in 1990.
Since then, the bank has grown to become the biggest bank in Nigeria.
A major factor behind the bank's phenomenal growth is that Zenith is a strong player in the Public or Government sector.
The bank has a reputation for chasing government accounts and portfolios at all costs. It is this aggression in chasing accounts and the efficiency with which it renders all manners of service, straight forward or crooked, to public officers that has made the bank of choice for corrupt office holders.
There is hardly any deal , for good or bad that Zenith Bank is not in the middle of.
This love for government funds is also the reason why, more than most banks, it is heavily exposed to many state governments.
This exposure is partly why it is necessary for Zenith to take more than a passing interest in the governance of such states.
The desire to have unfettered access to government funds is also another reason for this interest.
In many states Zenith staff have been appointed commissioners and major government functionaries.
Former staff of the bank are currently serving as governors in two states, Borno and Akwa Ibom. The present Governor of the Central Bank of Nigeria is a former staff.
He was the Managing Director of the bank before his kinsman and mentor, Zenith bank founder Jim Ovia installed him as CBN Governor.
The bank also sponsors candidates as the Ekitii state governor Ayo Fayose revealed when he
disclosed that Zenith Bank "majorly funded " his campaign.
In Imo state, the bank is the major banker to the state government.
In that capacity,it has been involved in numerous unwholesome deals which have undermined the economy of the state and the well being of Imolites.
In the circumstances, there is no doubt that Zenith bank will do everything in its power to ensure that the details of these transactions remain hidden while, at the same time, strive to maintain a relationship which has been of immense financial benefit to the bank.
What better way is there of achieving this and killing two birds with one stone, than to install a trusted staff as Governor?
It is for this reason that an Executive Director of the bank has been drafted into the Imo governorship race with a war chest reported to be in the neighborhood of 10 Billion Naira.
This huge sum of money is to ensure that he captures the ticket of whatever party he joins.
Incidentally, the first time this bank executive's name was mentioned politically was as an alternative or Plan B in Governor Okorocha's desperate bid to install a successor.
From the foregoing, the answer to the question " What does Zenith Bank want?" is very clear.
There is no doubt about the purpose of the Executive Director's gubernatorial bid.
The interest and well-being of Imo people is certainly not a priority for him.
His primary mission is to protect and further Zenith Bank's interests in Imo state.
His secondary mission is to give Okorocha a soft landing and ensure that their bank's dealings with him, which have contributed to ruining the state, remain secret and ongoing.
Consequently, the people of Imo state have to ask themselves a couple of questions.
Is this Bank executive the sort of person Imo people should hand over the running of their affairs to at this time when they have a chance to break with the ignoble past and effect a change for the better?
Do the people of Imo want themselves and their state to remain on the list of Zenith Bank's and Jim Ovia's minions and vassal states?
Surely, the answers to these questions must be a capital NO.
That is why the people of Imo state must reject Zenith Executive Director, Stanley Amuchie and his Billions of Naira.
His candidacy is an ill wind that will blow them no good.
Zenith Bank, one of the New Generation banks in Nigeria was founded in 1990.
Since then, the bank has grown to become the biggest bank in Nigeria.
A major factor behind the bank's phenomenal growth is that Zenith is a strong player in the Public or Government sector.
The bank has a reputation for chasing government accounts and portfolios at all costs. It is this aggression in chasing accounts and the efficiency with which it renders all manners of service, straight forward or crooked, to public officers that has made the bank of choice for corrupt office holders.
There is hardly any deal , for good or bad that Zenith Bank is not in the middle of.
This love for government funds is also the reason why, more than most banks, it is heavily exposed to many state governments.
This exposure is partly why it is necessary for Zenith to take more than a passing interest in the governance of such states.
The desire to have unfettered access to government funds is also another reason for this interest.
In many states Zenith staff have been appointed commissioners and major government functionaries.
Former staff of the bank are currently serving as governors in two states, Borno and Akwa Ibom. The present Governor of the Central Bank of Nigeria is a former staff.
He was the Managing Director of the bank before his kinsman and mentor, Zenith bank founder Jim Ovia installed him as CBN Governor.
The bank also sponsors candidates as the Ekitii state governor Ayo Fayose revealed when he
disclosed that Zenith Bank "majorly funded " his campaign.
In Imo state, the bank is the major banker to the state government.
In that capacity,it has been involved in numerous unwholesome deals which have undermined the economy of the state and the well being of Imolites.
In the circumstances, there is no doubt that Zenith bank will do everything in its power to ensure that the details of these transactions remain hidden while, at the same time, strive to maintain a relationship which has been of immense financial benefit to the bank.
What better way is there of achieving this and killing two birds with one stone, than to install a trusted staff as Governor?
It is for this reason that an Executive Director of the bank has been drafted into the Imo governorship race with a war chest reported to be in the neighborhood of 10 Billion Naira.
This huge sum of money is to ensure that he captures the ticket of whatever party he joins.
Incidentally, the first time this bank executive's name was mentioned politically was as an alternative or Plan B in Governor Okorocha's desperate bid to install a successor.
From the foregoing, the answer to the question " What does Zenith Bank want?" is very clear.
There is no doubt about the purpose of the Executive Director's gubernatorial bid.
The interest and well-being of Imo people is certainly not a priority for him.
His primary mission is to protect and further Zenith Bank's interests in Imo state.
His secondary mission is to give Okorocha a soft landing and ensure that their bank's dealings with him, which have contributed to ruining the state, remain secret and ongoing.
Consequently, the people of Imo state have to ask themselves a couple of questions.
Is this Bank executive the sort of person Imo people should hand over the running of their affairs to at this time when they have a chance to break with the ignoble past and effect a change for the better?
Do the people of Imo want themselves and their state to remain on the list of Zenith Bank's and Jim Ovia's minions and vassal states?
Surely, the answers to these questions must be a capital NO.
That is why the people of Imo state must reject Zenith Executive Director, Stanley Amuchie and his Billions of Naira.
His candidacy is an ill wind that will blow them no good.
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