• He remains Bank MD, Says Access
By Obinna Uballa
Access Holdings Plc has explained that Mr. Roosevelt Ogbonna, Managing Director and Chief Executive Officer of Access Bank Plc, resigned from the Board of the HoldCo to comply with regulatory guidelines issued by the Central Bank of Nigeria (CBN).
The company, in a statement signed by its Secretary, Sunday Ekwochi, on Tuesday, said the decision was in line with the CBN’s Corporate Governance Guidelines for Financial Holding Companies (2023), which stipulate a maximum of nine directors on a financial holding company’s board.
“His resignation became necessary to ensure compliance with the Central Bank of Nigeria’s Corporate Governance Guidelines for Financial Holding Companies (2023), which limit the number of directors on a financial holding company’s board to nine,” the statement said.
Despite stepping down from the Access HoldCo board, Ogbonna will continue to serve as the Managing Director and Chief Executive Officer of Access Bank Plc, the group’s flagship subsidiary, where he has been instrumental in driving growth and strategic expansion.
The company expressed gratitude for his contributions, stating: “The board appreciates Mr. Ogbonna for his outstanding and continued contributions to the Access Group.”
Ogbonna, who became MD/CEO of Access Bank in May 2022 after serving as Deputy Managing Director since 2017 and Executive Director from 2013, joined Access Bank in 2002 from Guaranty Trust Bank.
He has over two decades of experience in the banking sector and holds several professional and academic qualifications, including an MBA from IMD Business School in Switzerland and an LL.M in International Corporate & Commercial Law from King’s College London.
The Access Holdings board is currently chaired by Aigboje Aig-Imoukhuede, with Bolaji Olaitan Agbede as Acting Group CEO and Lanre Bamisebi as Executive Director.
Analysts say Ogbonna’s exit from the HoldCo board underscores Access Holdings’ commitment to regulatory compliance while ensuring that its banking arm remains under experienced leadership.
