By Peter OBIORA investadvocate

Nov 08 2010 17.24 GMT

Lagos (INVESTADVOCATE)-Cecilia Ibru, former Managing Director/Chief Executive Officer (MD/CEO) of Oceanic Bank Plc has been removed from the Board of e-Transact International Plc.

 

This was contained in a notice by the company Wednesday December 08 2010 to the Nigerian Stock exchange (NSE) and made available to investadvocate in Lagos Nigeria.

 

The Company notified The Exchange of the removal of Cecila Ibru from its Board of Directors (BOD), effective September 28 2010.

 

According to e-Transact,  Ibru’s removal was in pursuant to a letter dated September 21 2010 to eTransact Plc requesting for her removal and the consequent resolution of the Board of Directors of the company.

 

Ibru was on Friday October 08 2010 convicted of several financial offences including money laundering, wire fraud and abuse of office amongst others; after she was sacked by Nigeria’s Apex Bank, the Central Bank of Nigeria (CBN) in the wake of the last Global financial crisis.

 

As earlier reported, her conviction followed a Plea bargain she entered with the Economic and Financial Crime Commission (EFCC) Prosecutors and was subsequently sentenced to a six-month term in jail and was made to forfeit over N190 billion in cash and assets to the government.