By Yakubu LAAH InvestAdvocate
Lagos (INVESTADVOCATE)-Nigeria’s tier one lender, Access Bank Plc said on Thursday it has appointed Mosun Belo-Olusoga as its new chairman of board; coming on the heels of the retirement of Gbenga Oyebode as director and erstwhile chairman of the bank.
Belo-Olusoga’s appointment takes effect from July 30, 2015, the lender said in an e-mailed statement to InvestAdvocate.
According to Access bank, the retirement of Oyebode follows his successful completion of the maximum term limit as prescribed by the Central Bank of Nigeria’s (CBN’s) Code of Corporate Governance for Banks and Discount Houses in Nigeria.
It said the appointment of Belo-Olusoga follows a thorough selection process by the Governance and Nomination Committee of the Board led by Emmanuel Chiejina, a non-executive director.
The lender says Belo-Olusoga joined the board of the Bank in November 2007 as a non-executive director. “Until her recent appointment, she was the chairperson of the Credit and Finance Committee and member of the board Committees on Audit, Governance and Nomination, Risk Management and Remuneration,” Access Bank said.
Belo-Olusoga was formerly an executive director of Guaranty Trust Bank Plc and was at various times responsible for Risk Management, Corporate and Commercial Banking and Transaction Services and Settlements. She is a graduate of Economics from University of Ibadan and a Fellow of the Institute of Chartered Accountants of Nigerian and Chartered Institute of Bankers of Nigeria.
‘I am glad that Mrs Belo-Olusoga will be succeeding me as chairperson. Her significant board experience; knowledge of our dynamic industry and personal qualities will be highly beneficial to Access Bank,”Oyebode former chairman affirmed.
‘‘I consider it a great privilege to chair Access Bank, an outstanding financial institution at a time like this. I look forward to working with its great team in transforming it into the World’s Most Respected African Bank,” Belo-Olusoga said.
The lender says by this development, the board is now comprised of 15 directors made up of 7 executive directors and eight (8) non-executive directors, two (2) of whom are independent directors.
Shares at Access Bank climbed up 1.43 percent to N4.98 from N4.91 recorded the past session; gaining 0.07 kobo per share.
