Otti Never Used Our Bank Branch As Campaign Office—Diamond Bank


Diamond Bank has reacted to allegations made by an online news blog, The Paradigm, that former GMD/CEO of Diamond Bank, Alex Otti, converted a branch of the reputable bank in Abia State as his political campaign office, and also used customers’ money to fund his campaign.

In a press statement issued by the Diamond Bank on Wednesday, which was made available to Aproko247, the bank stressed that Otti, who repositioned the bank to an enviable position before he resigned some weeks ago to pursue his gubernatorial ambition, never used any of the bank’s properties for his political dream as alleged in the story.

Diamond Bank described the report as “not only to be spurious but also baseless and malicious.”

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The full statement reads;

“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.

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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.
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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.”

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