Ecobank Chairman Forced To Resign

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Kolapo Lawson, Ecobank MD

By Alphonsus E.W

Chairman of Ecobank Transnational Inc. ETI Kolapo Lawson may have been eased out of the board. The bank on Wednesday announced that Mr. Lawson would stand down amidst a looming cloud of fraud allegations that are being investigated by the Securities and Exchange Commission, SEC.

Lawson whose sudden retirement takes effect from December 31st this year has constantly insisted he has done nothing wrong. He will hand over immediately to interim chairman, André Siaka.

A statement obtained from the bank quoted Mr. Lawson as saying that his retirement was to preserve the integrity of the institution which had almost been blighted by the allegations.

“I am very conscious of the uncertainty that current media speculation has cast over the institution. I therefore wish to take the necessary steps to bring this to an end.

As the head of such a respected global institution, I must act when there is even the slightest perception that the interests of that institution might be at risk. I therefore step aside as Chairman of Ecobank Transnational,” he said.

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