Access Holdings Director Ogbonna Resigns to Meet CBN Corporate Governance Rules

Access Holdings Plc has announced the resignation of one of its Non-Executive Directors, Roosevelt Ogbonna, from its Board after three and a half years of service, to comply with new regulatory requirements.

In a notice to the Nigerian Exchange Limited on Wednesday, the company explained that Ogbonna, who continues to serve as the Managing Director/Chief Executive Officer of Access Bank Plc, stepped down from the Board of the holding company to align with the Central Bank of Nigeria’s Corporate Governance Guidelines for Financial Holding Companies, 2023.

The guideline stipulates a maximum of nine directors for the Board of a financial holding company.

“Access Holdings Plc (‘the Company’) today announces the resignation of one of its Non-Executive Directors, Roosevelt Ogbonna, from the Board after three and a half years of dedicated service. Ogbonna continues to serve as the Managing Director/Chief Executive Officer of Access Bank Plc, the Company’s flagship subsidiary.

“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,” the statement partly read.

Commenting on the development, the Company Secretary, Sunday Ekwochi, said, “The Board appreciates Ogbonna for his outstanding and continued contributions to the Access Group.”

Access Holdings added that Ogbonna will continue in his role as Managing Director and Chief Executive Officer of its flagship subsidiary, Access Bank Plc.

Punch