To Meet CBN Requirements, Ogbonna Exits Access Holdings Board, Remains Bank’s CEO

Access Holdings Plc has announced Roosevelt Ogbonna’s resignation from the company’s board as a non-executive director.

In a statement issued on the Nigeria Exchange Limited on Wednesday, Access Holdings said the resignation was in accordance with the stipulated guidelines stipulated by the Central Bank of Nigeria (CBN).

Ogbonna, who has served on the board for over three years, stepped down to enable the group to comply with CBN’s Corporate Governance Guidelines for Financial Holding Companies, which limit the number of directors on a holding company’s board to nine.

Despite his resignation from the holdings’  board, Ogbonna will continue as the managing director and chief executive officer of Access Bank Plc, the group’s flagship subsidiary.

The holding company, in a statement signed by its company secretary, Sunday Ekwochi, expressed appreciation for Ogbonna’s “outstanding and continued contributions to the Access Group” while noting that his leadership of Access Bank remains critical to the company’s overall performance and strategic direction.