Thursday, December 17, 2015 05:34PM / NSE
The Board of Directors of Access Bank Plc. has received the written resignation of Dr. Mahmoud Isa-Dutse as Non-Executive Director of the Bank due to his other work engagements requiring more time and attention.
The Board at its meeting held on December 16, 2015 accepted his resignation and expressed its appreciation for his dedication to duty during his term of service.
The resignation takes effect immediately.
Dr. Isa-Dutse has confirmed that he has no disagreement with the Board and there are no circumstances connected with his resignation which should be brought to the attention of the shareholders of the company or the regulatory authorities.
The Central Bank of Nigeria and the Securities and Exchange Commission’s Codes of Corporate Governance require every Board of Directors of regulated companies to have more Non-Executive Directors than Executive Directors subject to stipulated maximum size of Boards.
With the resignation of Dr. Isa-Dutse, the Bank now has 14 directors comprising equal number of Executive and Non-Executive Directors.
The Board is identifying right candidates to fill the resultant vacancies as soon as practicable and further announcements will be made as and when appropriate.