Access Holdings Plc has confirmed the resignation of Mr. Roosevelt Ogbonna as a Non-Executive Director on its Board of Directors. The disclosure, filed with the Nigerian Exchange (NGX) and signed by Company Secretary, Sunday Ekwochi, stated that Ogbonna’s decision took effect after three and a half years of service on the board.
Despite stepping down from the holdings’ board, Ogbonna will continue to serve as the Managing Director and Chief Executive Officer of Access Bank Plc, the banking subsidiary of the group. This arrangement, according to the company, ensures that his leadership at the core banking unit remains intact while aligning the group’s governance structure with regulatory standards.
Access Holdings explained that the resignation was necessary to comply with the Central Bank of Nigeria’s (CBN) Corporate Governance Guidelines for Financial Holding Companies, released in 2023. The guidelines stipulate that no more than nine directors are permitted to sit on the board of a financial holding company, a rule designed to strengthen oversight and improve governance within the sector.
The company’s board expressed appreciation to Ogbonna for his valuable contributions during his tenure as a Non-Executive Director, describing his role as pivotal to the growth and success of the group. “The board appreciates Mr. Ogbonna for his outstanding and continued contributions to the Access Group,” the statement noted.
Ogbonna, a seasoned banker with decades of experience, assumed the role of Access Bank CEO in 2022, following the leadership transition within the group. His continued stewardship of the bank, even as he exits the holdings’ board, is seen by industry observers as a strategic step to consolidate compliance while maintaining stability at the operational level of Nigeria’s largest lender by assets.
