Access Holdings Confirms Access Bank CEO's Resignation From Board
- 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, signed by its company secretary, Sunday Ekwochi.
Source: UGC
According to the disclosure, Ogbonna stepped down after more than three years of service on the board.
It 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, he 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 their boards to a maximum of nine directors.
It stated:
“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 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.
Source: Legit.ng
