Press Releases

Zenith, Skye Banks Redeem Pledges To Security Trust Fund In Lagos
…Present N50M cheques each to Governor Fashola

Jan 24, 2011 - Two major corporate citizens in Lagos State, the Zenith Bank Plc and Skye Bank Plc on Monday fulfilled the pledges they made at the Town Hall Meeting on Security in November by presenting cheques of N50Million each respectively to Lagos State Governor, Mr Babatunde Fashola (SAN) for the State Security Trust Fund.

Governor Fashola who spoke at Lagos House, Ikeja when he received the members of the management team of the Zenith Bank led by its Group Managing Director, Mr Godwin Emefiele and his Skye Bank Plc counterpart, Mr Kehinde Durosinmi- Etti separately appealed to members of the public not to see the problem of security as that of banks alone.

He added that the problem of insecurity anywhere is a problem for everyone everywhere.

While commending the financial institutions for being at the vanguard of those who have always responded to the clarion call on security in the State, Governor Fashola said they are responding not because they have too much money but because they are concerned about the maintenance of peace and security in the State.

He reiterated that the banks' gestures represent the kind of spirit that is needed across board from other institutions like hotels, hospitality outfits, eateries, petrol filling stations and other business concerns.

He said it is very gladdening to note that the State Security Trust Fund has become a model which has received state wide, national and international recognition.

Governor Fashola said when the Town Hall Meeting was held in November last year it was to render an account of the Fund and logistics at its disposal as well as demonstrate that the Fund would not go the way of other similar funds set up in the past.

Said he: "It was also to benchmark the commitment of the fund to integrity and transparent transactions and also to remind all that inspite of the successes achieved since the inception of the fund there was still more to do. It was cheaper to start to do it before it declined".

"It was cheaper to build on the foundation than going back to rebuild from scratch", he added.

The Governor said it part of the theme at that Town Hall meeting to ensure that Government was ahead of criminals by ensuring that it invests in the Security Trust Fund so that it does not suffer a decline.

He said it was through this investment that government can combat those who make money from crime and win the war against crime.

The Governor said that represented the whole idea of replacing old equipment and sustained policy of motivating and inspiring officers and men to continue to perform as well as to get all those who have participated before to do so again and get all those who have never participated before to start doing so.

"This is a communal effort where everybody's contribution matters. Students in schools actually contribute and I do not see any reason why anybody with a means of livelihood will not contribute to this commonwealth created by a commonwealth", the Governor said.

He commended the new Group Managing Director of Zenith Bank for continuing in the tradition of his leadership as demonstrated by his predecessor, Mr Jim Ovia.

While congratulating Mr Emefiele for his appointment, he commended the stability in transition at Zenith Bank, saying it speaks a lot about corporate governance and succession plans.

He recalled that when the idea of the trust fund was first mooted and one of the challenges was about raising funds, it was Mr Jim Ovia who advised the Government to reach to corporate organizations and appeal to their conscience.

Speaking earlier, the Group Managing Director of Zenith Bank Plc, Mr Godwin Emefiele thanked the Lagos State Government for providing the enabling atmosphere to do business in Lagos State.

He also congratulated Governor Fashola for providing good life and also improving the general well being of residents of Lagos State as well as security of the residents.

He said it is extremely commendable that Zenith Bank has a shared vision with the Lagos State Government on the issue of security, saying the bank believes that the State needs its support by redeeming some of the pledges it made at the town hall meeting.

During the presentation by his organization, the Managing Director of Skye Bank, Mr Kehinde Durosinmi- Etti described the donation as a significant but token contribution of Skye Bank to the improvement of security in Lagos State.

He said the bank was redeeming its pledge made at the last Town Hall meeting based on the improved state of security in Lagos State and the need for a sustenance.

Also speaking, the Executive Secretary of the State Security Trust Fund, Mr Fola Arthur -Worrey said the management teams of both banks were at the Governor's office respectively to kickstart the process of redemption of the made with respect to the Security Trust Fund.

He also described Zenith Bank as one of the largest cash and asset donor to the Lagos State Security Trust Fund since its inception and has always demonstrated its concern for protection of banks and members of the public.

The Managing Directors of Zenith Bank Plc and Skye Bank Plc, Mr Godwin Emefiele and Mr Kehinde Durosinmi-Etti later separately presented a cheque of N50Million each to Governor Fashola at the ceremony which was also attended by some members of the State Executive Council like Commissioner for Finance, Mr Rotimi Oyekan and his Budget and Economic Planning counterpart, Mr Ben Akabueze among others.


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