By Yakubu LAAH InvestAdvocate
Lagos (INVESTADVOCATE)-Access Bank Plc Friday said it has appointed Paul Usoro as a non-executive director of the bank.
According to the bank, Usoro is a seniour advocate of Nigeria (SAN), fellow of the chartered institute of arbitrator and the founder and seniour partner of the law firm of Paul Usoro and Co.
Access Bank says Usoro brings on board his extensive boardroom experience from some of Nigeria’s leading companies and multinationals.
Usoro has over 30 years post-call experience and is acknowledged as one of Nigeria’s brightest litigators and foremost communication law experts. He has advised a wide range of blue chip Nigerian and foreign companies in project finance and development, equity raising, infrastructure development and Management Buy-outs.
He currently serves on the board of Airtel Network Limited (and the chairman of the audit committee), Nigeria Bulk Electricity Traders Plc, Marina Securities Limited, Premium Pension Limited and PZ Cussons Nigeria Plc.
Usoro has represented Access Bank on the board of Intercontinental Bank in 2011 as a non-executive director following the bank’s acquisition of the Intercontinental Bank Group.
He holds a Bachelors of Law Degree from University of Ife (1981) and was called to Nigerian bar in 1982.
The bank affirmed that Usoro’s appointment has been approved by the central bank of Nigeria (CBN).
“I am delighted to welcome Paul on the Board of Access Bank. He brings on board a very rich professional and corporate board experience relevant to our industry as well as a deep understanding of the needs of shareholders. I am certain that these skills can only benefit Access Bank in our quest to become the World’s Most Respected African Bank.” Gbenga Oyebode, the chairman of Access Bank said.
In the same vein, the board of directors of the bank also announced the retirement of Babatunde Folawiyo as a non-executive director following his completion of the maximum 12 year term stipulated by the Nigeria’s central bank’s code of corporate governance for banks in Nigeria.
Folawiyo has confirmed that he has no disagreement with the board in any respect and there is no matter relating to his retirement that needs to be brought to the attention of the bank’s shareholders or the Nigerian stock exchange (NSE).
The Access Bank board of directors extends their appreciation to Folawiyo for his contributions to the growth of the bank.
The bank further affirmed that with this appointment, its board is made up of 16 directors, seven (7) of whom are executives while nine (9) are non-executives including two (2) are independents directors.
