Access Holdings Plc has announced the resignation of Mr. Roosevelt Ogbonna from its board, where he served as a Non-Executive Director for over three years.
In a notice filed with the Nigerian Exchange (NGX) on Wednesday and signed by Company Secretary Sunday Ekwochi, the Group explained that Ogbonna’s decision was made to comply with the Central Bank of Nigeria’s (CBN) Corporate Governance Guidelines for Financial Holding Companies (2023). The guidelines stipulate that a financial holding company cannot have more than nine directors on its board.
Although stepping down from the Access Holdings board, Ogbonna will continue as Managing Director/Chief Executive Officer of Access Bank Plc, the flagship subsidiary of the Group.
The board expressed appreciation for his service, stating: “The Board appreciates Mr. Ogbonna for his outstanding and continued contributions to the Access Group.”
The corporate disclosure, titled “Notification of Resignation of a Non-Executive Director from the Board”, read:
“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 a half 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. 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 Board appreciates Mr. Ogbonna for his outstanding and continued contributions to the Access Group.”
