ECOBANK CEO FORCED OUT

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By Ayomide Oriade

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Reports from Ecobank board meeting held yesterday in Yaounde, Cameroun has it that the embattled CEO of the bank, Thierry Tanoh, has been forced to resign.

The Ivorien has been under scrutiny since it was revealed at an emergency general meeting held last week that he had failed to comply with instructions by Nigeria’s Securities and Exchange Commission (SEC) to recall Laurence do Rego, a former executive director of the pan-African bank responsible for finance and risk.

One of the deputy managing directors, Albert Essien, a Ghanaian is to occupy the CEO position until a substantive head was found for the bank in October. The meeting also decided that do Rego be recalled.

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