The Board of Directors of Ecobank Transnational Incorporated, parent company of the Ecobank Group, held a special meeting in Accra Thursday to discuss recent court judgments in C\u00f4te d\u2019Ivoire and Togo.<\/p>\n
Those judgments awarded over US$26 million to the company\u2019s former CEO, Mr. Thierry Tanoh, whose appointment was terminated in March 2014 after he had spent less than two years in the position.<\/p>\n
[contextly_sidebar id=”dAfd7eebvZV5pMOLue7qGG7Ndy5xH49e”]The board evaluated its legal position in regard to these judgments, and resolved to pursue its appeals.<\/p>\n
It is confident about the robustness and merits of these appeals, and feels assured that the higher courts will ultimately uphold them.<\/p>\n
It also resolved to continue other legal proceedings against Mr. Tanoh.<\/p>\n
The new board of directors, which was constituted in 2014, is a highly credible and vastly experienced board.<\/p>\n
Under its guidance, the group\u2019s management has subsequently completed a rigorous 51-point action plan to implement best practice governance controls and systems, including quarterly reporting to regulators.<\/p>\n
Since the inception of the new board and the current management team, two institutional investors, Nedbank and Qatar National Bank have both become significant ETI shareholders.<\/p>\n
The Ecobank Group reaffirms its financial strength and its commitment to transparent corporate governance as a systemically important banking group in Africa.<\/p>\n
The bank has total assets of over US$23 billion.<\/p>\n
To further strengthen its financial position, Ecobank, in the last six months, raised approximately US$1 billion in combined equity and debt capital for both its parent company and its business in Nigeria, the largest of the group\u2019s subsidiaries.<\/p>\n
Source: Ecobank<\/p>\n","protected":false},"excerpt":{"rendered":"
The Board of Directors of Ecobank Transnational Incorporated, parent company of the Ecobank Group, held a special meeting in Accra Thursday to discuss recent court judgments in C\u00f4te d\u2019Ivoire and Togo. Those judgments awarded over US$26 million to the company\u2019s former CEO, Mr. Thierry Tanoh, whose appointment was terminated in March 2014 after he had […]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":[],"footnotes":""},"categories":[19,1],"tags":[4],"class_list":["post-91774","post","type-post","status-publish","format-standard","hentry","category-health","category-uncategorized","tag-st-augustines-college"],"_links":{"self":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/91774","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=91774"}],"version-history":[{"count":0,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/91774\/revisions"}],"wp:attachment":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=91774"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=91774"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=91774"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}