By Yakubu LAAH InvestAdvocate
Lagos INVESTADVOCATE)-Pan-African lender, Ecobank Transnational Incorporated (ETI) on Friday said it will amend its company’s articles of association at an extra-ordinary general meeting (EGM) to be held on June 30, 2014 at the Pan-Africa Centre in Lome, Togo.
Similarly, the pan-African bank scheduled its 26th annual general meeting (AGM) on the same date to transact the following business: approval of its current accounts, retirement and election of directors, ratification of the co-option of a director and re-appointment of the joint auditors.
This is coming on the heels of the appointment of Albert Essien as group chief executive officer (GCEO) following the departure of Thierry Tanoh with effect from 12 March 2014.
Nigeria’s Securities and Exchange Commission (SEC) had December 16, 2013 presented the result of an audit exercise to the board of ETI in order to elicit feedback from them following issues of corporate governance concerns.
SEC directed that the EGM should be held before the end of February 2014 and expects ETI to develop a one year remedial plan with measures to address the specific governance gaps observed.
The bank complied by holding the EGM March 03, 2014 to reconstitute its board; part of which is to strengthen governance within the Ecobank Group.
