Ecobank Transnational Incorporated on Wednesday 12 February announced the resignations of two members of its Board of Directors. They are Mr. Isyaku Umar and Dr. Babatunde Ajibade who until their resignations were non- executive directors on the board of the pan-African bank. Their resignations became effective from February 8th, 2014.
Umar became a non-executive Director of ETI in 2006. He started his career with UAC of Nigeria and later worked with the federal government of Nigeria in various capacities before rejoining the private sector. Ajibade joined the Board of ETI in 2010 as a non-executive director. He is a legal practitioner engaged in private commercial legal practice and is a Senior Advocate of Nigeria.
Ecobank is under pressure to reform after the Securities and Exchange Commission criticised the board of corporate governance breaches. The bank will hold an Extra-ordinary General Meeting in Lome on March 3, 2014 to vote on setting up a seven-strong interim board.