Access Holdings Plc says Roosevelt Ogbonna has resigned from its board as a non-executive director.
The holding company announced the board exit in a corporate filing on the Nigerian Exchange Group on Tuesday, signed by Sunday Ekwochi, its company secretary.
The company said the development comes after over three years of dedicated service.
“Mr. Ogbonna continues to serve as the managing director/chief executive officer of Access Bank Plc, the company’s flagship subsidiary,” Ekwochi said.
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“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 bank said the board appreciates Ogbonna for his “outstanding and continued contributions to the Access Group”.
In 2022, Access Holdings appointed Ogbonna as the new CEO of its banking subsidiary.
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Prior to his appointment as CEO, he served as the bank’s deputy managing director in 2017 and executive director in 2013.
Ogbonna was also a non-executive director of the bank’s subsidiaries in the United Kingdom and South Africa.
In February 2023, the CBN issued a new rule stating that executive directors (EDs), deputy managing directors (DMDs), managing directors (MDs), and non-executive directors (NEDs) can only serve a cumulative tenure of 20 years across the banking industry.
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