Access Holdings Plc has announced the resignation of Mr. Roosevelt Ogbonna from its Board of Directors, where he served as a Non-Executive Director for over three years. While stepping down from the board of the holding company, Ogbonna retains his role as Managing Director and Chief Executive Officer of Access Bank Plc, the group’s flagship subsidiary and one of Africa’s leading financial institutions.
The move, disclosed in a statement signed by the Company Secretary, Mr. Sunday Ekwochi, was made in compliance with the Central Bank of Nigeria’s (CBN) Corporate Governance Guidelines for Financial Holding Companies (2023), which limit the number of directors serving on the board of a financial holding company to nine.
According to the statement:
“Access Holdings Plc today announces the resignation of one of its Non-Executive Directors, Mr. Roosevelt Ogbonna, from the Board after three and a half years of dedicated service. Mr. Ogbonna continues to serve as the Managing Director/Chief Executive Officer of Access Bank Plc, the Company’s flagship subsidiary. His resignation allows the Company to comply with the Central Bank of Nigeria’s Corporate Governance Guidelines for Financial Holding Companies in Nigeria, 2023.”
The board commended Ogbonna’s leadership and contributions during his tenure, noting that his strategic insights have helped shape the growth trajectory of Access Holdings and its subsidiaries. “The Board appreciates Mr. Ogbonna for his outstanding and continued contributions to the Access Group,” the statement added.
Ogbonna’s Continued Leadership at Access Bank
Roosevelt Ogbonna, who assumed the role of CEO of Access Bank in May 2022, has been a key figure in sustaining the bank’s growth momentum following the passing of the group’s late CEO, Herbert Wigwe. Prior to his appointment as CEO, Ogbonna served in multiple leadership roles within the bank, including Deputy Managing Director and Executive Director of Wholesale Banking.
His stewardship has seen Access Bank deepen its retail and corporate banking operations, enhance digital banking services, and expand across Africa and beyond. Today, Access Bank operates in more than 20 countries and is recognized as one of the continent’s largest lenders by assets.
Access Bank’s Growth Story
Access Bank has established itself as a major player in Nigeria’s financial services landscape, boasting over 60 million customers, cutting-edge digital platforms, and a strong push for financial inclusion. The bank has been instrumental in driving the group’s pan-African strategy, including acquisitions and strategic partnerships in markets such as South Africa, Botswana, and Kenya.
Under Ogbonna’s watch, Access Bank has also focused on sustainability and innovation, introducing initiatives to support small businesses, improve digital payment adoption, and drive green finance in line with global best practices.
Balancing Compliance with Continuity
Industry watchers say Ogbonna’s exit from Access Holdings’ board reflects the group’s adherence to regulatory best practices while ensuring that leadership continuity is maintained at the operational level of Access Bank. His presence at the helm of the bank is expected to reassure investors, customers, and stakeholders of continued stability and strategic focus.
“Ogbonna’s decision to step down from the board of Access Holdings while remaining as CEO of Access Bank shows both regulatory compliance and a deliberate choice to keep the bank’s leadership steady during a period of global and local economic headwinds,” one Lagos-based financial analyst observed.
Looking Ahead
As Access Holdings Plc navigates Nigeria’s evolving banking landscape, Roosevelt Ogbonna’s leadership at Access Bank is expected to remain central to its strategy of becoming Africa’s gateway to the world. With digital transformation, regional expansion, and customer experience at the core of its agenda, stakeholders believe Access Bank will continue to consolidate its position as a leading African financial powerhouse under his guidance.
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