Report Alleging Conversion of Diamond Bank Branch to Political Campaign Office

On Tuesday, November 18, 2014, the Paradigm posted on its blog site the report that the former Group Managing Director/CEO of Diamond Bank Plc, Dr. Alex Otti OFR, has converted one of  the Bank’s properties located at Library Road, Umuahia, Abia State to his political campaign office. The report also alleged that Dr. Otti “in cooperation with his stooges in the bank” has laid conduits through which he siphons depositors’ funds to finance his gubernatorial campaign in Abia State. We have studied the report, investigated the allegations and found it not only to be spurious but also baseless and malicious.

To put the records straight we state the following:

1. Diamond Bank Plc is not oblivious of its strategic value in the financial services sub-sector in the country and the burden of responsibility reposed on its management, and therefore, is focused on its core business of deposit mobilisation and credit creation; the Bank is focused on its set goals to meet shareholders expectations and create value for the millions of its customers across the six geopolitical zones; and is not involved in politics in anyway.

2. As at the close of business on the date the report was posted on the blog site, none of the Bank’s over 265 branches in the country or any of its properties in Abia State and the entire South East is under the control of its former GMD/CEO, Dr. Otti for his political campaign or is being used as a campaign office by any other politician.

3. Much as freedom of speech is a fundamental human right guaranteed by Law, good journalism entrusts the writer with the burden of responsibility to cross check and validate his information with verifiable facts. Diamond Bank Plc upholds the integrity of journalistic truth and objectivity; and hope that this statement will serve to clear the air about this misleading and malicious report posted on the blog.

SIGNED