Access Holdings Confirms Access Bank CEO's Resignation From Board, Gives Reason
- Roosevelt Ogbonna has resigned as a non-executive director from the board of Access Holdings Plc after over three years of service
- He will, however, continue as the managing director and chief executive officer of Access Bank Plc, the group’s flagship subsidiary
- Ogbonna, who became CEO of Access Bank in 2022 after serving in various leadership roles since 2013, remains recognised for his contributions
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Legit.ng journalist Victor Enengedi has over a decade's experience covering Energy, MSMEs, Technology, Banking and the Economy.
Access Holdings Plc has announced the resignation of Roosevelt Ogbonna from its board, where he served as a non-executive director.
The company disclosed the development in a notice filed with the Nigerian Exchange Group on Tuesday, August 27, 2025, signed by its company secretary, Sunday Ekwochi.
Source: UGC
Ogbonna remains Access Bank CEO
According to the disclosure, Ogbonna stepped down after serving on the board for more than three years.
Ekwochi stated:
“Access Holdings Plc (the Company’) today announces the resignation of one of its Non- Executive Directors Mr. Roosevelt Ogbonna from the Board after three and half years of dedicated service."
Despite the resignation, Ogbonna remains the managing director and chief executive officer of Access Bank Plc, the flagship subsidiary of Access Holdings.
The company explained that the decision aligns with the Central Bank of Nigeria’s 2023 corporate governance guidelines for financial holding companies, which limit the number of directors on their boards to a maximum of nine.
He added:
“His resignation allows the company to comply with the Central Bank of Nigeria’s corporate governance guidelines for financial holding companies in Nigeria, 2023, which stipulates a maximum of nine (9) directors for the Board of a Financial Holding Company.”
Ekwochi added that the board appreciates Ogbonna’s valuable contributions to the Group and looks forward to his continued leadership at Access Bank.
Ogbonna's contribution to Access Bank so far
Ogbonna became CEO of Access Bank in 2022, having previously served as deputy managing director from 2017 and executive director from 2013.
He has also held non-executive director roles in the bank’s subsidiaries in the UK and South Africa.
Source: UGC
His exit from the holding company’s board comes against the backdrop of the CBN’s February 2023 directive, which caps the total tenure of executive and non-executive directors, deputy managing directors, and managing directors at 20 years within the Nigerian banking sector.
Recall that under Ogbonna's leadership, Access Bank recently secured N351 billion ($228 million) through a rights issue to strengthen its capital base in line with new regulatory requirements and to support its growth plans.
With this fresh injection, the bank’s share capital has risen to N600 billion, which is 20% higher than the CBN's mandatory threshold for financial institutions holding international banking licenses.
Ogbonna, Elumelu, bank chiefs make donations
Meanwhile, Nigerian banks, through the committee of chief executive officers, have donated relief materials worth millions of naira to victims of recent floods in Jigawa state, reaffirming their commitment to national development.
A delegation of top bank executives, including UBA’s Dr. Oliver Alawuba, Access Bank’s Roosevelt Ogbonna, Zenith Bank’s Dame Adaora Umeoji, and Fidelity Bank’s Dr. Nneka Onyeali-Ikpe, visited the state to show solidarity with the people and government.
Speaking on behalf of the banks, Alawuba explained that the support included essential supplies and healthcare assistance aimed at easing the hardship of affected residents.
Proofreading by James Ojo, copy editor at Legit.ng.
Source: Legit.ng
