Ogbonna Resigns As Access Holdings Non Executive Director Owing To CBN’s Corporate Governance Rules
The Oasis Reporters
August 28, 2025
Access Holdings Plc has announced the resignation of one of its Non-Executive Directors, Roosevelt Ogbonna, from its Board after three and a half years of service.
In a notice to the Nigerian Exchange Limited on Wednesday, the company explained that Ogbonna, who continues to serve as the Managing Director/Chief Executive Officer of Access Bank Plc, stepped down from the Board in order to comply with the Central Bank of Nigeria’s Corporate Governance Guidelines for Financial Holding Companies, 2023.
The guideline stipulates a maximum of nine directors for the Board of a financial holding company.
“Access Holdings Plc (‘the Company’) today announces the resignation of one of its Non-Executive Directors. Roosevelt Ogbonna from the Board after three and a half years of dedicated service. Ogbonna continues to serve as the Managing Director/Chief Executive Officer of Access Bank Plc, the Company’s flagship subsidiary.
“Access Holdings Plc (‘the Company’) today announces the resignation of one of its Non-Executive Directors. Roosevelt Ogbonna from the Board after three and a half years of dedicated service. Ogbonna continues to serve as the Managing Director/Chief Executive Officer of Access Bank Plc, the Company’s flagship subsidiary.
Access Bank Plc is one of the fastest growing banks in Nigeria with the highest number of branches and it is expanding it’s footprint all over Africa because of its track record as a turnaround bank that acquires failing banks and turns them around from critical loss making to buoyant profitability within the shortest possible time.
Most failing banks in Africa usually submit themselves to Access Bank of Nigeria PLC through their board resolutions for management expertise and turn around specialty beyond Anglophone countries, Francophone countries and even Lusophone countries.
The Portuguese-speaking countries in Africa are known as Lusophone Africa or the PALOP (Países Africanos de Língua Oficial Portuguesa) and include Angola, Cape Verde, Equatorial Guinea, Guinea-Bissau, Mozambique, and São Tomé and Príncipe. These six nations are former colonies of the Portuguese Empire that share a common language and have formed an interstate organization to promote their shared culture and language preservation.
Access Bank Plc transitioned into a Holdings Company, thus necessitating the pulling out of the flagship subsidiary Managing Director from the board.
