By InvestAdvocate
Lagos (INVESTADVOCATE)-Pan African lender, Ecobank Transnational Incorporated (ETI) announced on Wednesday that Jibril Aku, the current managing director (MD) of its largest subsidiary, Ecobank Nigeria Limited will step down from his current role at the end of this year on conclusion of his five-year tenure according to the Bank’s internal policy.
“The board will immediately activate the process of selecting a successor. The successful candidate will be announced before the end of next month,” John Aboh chairman of Ecobank Nigeria said in a statement.
Aboh who congratulated the outgoing CEO for the good work achieved said he looked forward to the Bank improving on the good work that the team had accomplished.
According to ETI, Aku will take on another seniour role in the firm in the first quarter of 2016.
The pan African lender says Aku, a distinguished banker, spent the most part of his banking career with Citibank (Nigeria International Bank), before joining former Afribank Nigeria Plc as executive director (ED), Operations & Technology from 2003 to 2005. Thereafter, he joined Ecobank Nigeria in 2006 as (ED) responsible for the Bank’s Treasury & Financial Institutions business, following which he was subsequently appointed MD of Ecobank Nigeria in 2010.
“Leading the Ecobank franchise to its position in the Nigeria banking industry today with the Oceanic Bank acquisition, Jibril positioned the bank from number 13 to its current position of number six,” ETI affirmed.
“I am proud of what the team and I have achieved together, and I thank them for the good work and their unwavering commitment to Ecobank. Our board stood with us, and was steadfast in its support. I must, therefore, extend my sincere appreciation to the board and the team.
Despite some of the market challenges that we faced over the years, our customers have always been loyal, and it is their patronage that led to the achievements we see today,” Aku said.
Shares of ETI at the close of trading on the Nigerian bourse increased 0.65 percent to N17.13 from N17.02 traded the previous session; gaining 0.11 kobo per share.
