Access Holdings Plc (NGX: ACCESSCORP) has announced changes and appointments to the board of its banking subsidiary, Access Bank Plc.
The parent company made this disclosure in a statement signed by Sunday Ekwochi, the group company secretary, on Monday in Lagos.
The statement said the announcement followed the completion of the scheme of arrangement between Access Bank Plc and its shareholders.
According to the state, Roosevelt Ogbonna was appointed the Managing Director/Chief Executive Officer of Access Bank, Nigeria’s largest lender by asset. His emergence as MD/CEO of the subsidiary arm of the company follows the appointment of the incumbent, Herbert Wigwe, as the Group MD/CEO of Access Holdings Plc.
Ogbonna has since 2017 been Access Bank’s deputy managing director. Prior to 2017, he was appointed executive director, commercial banking division, in October 2013. He is a thoroughbred and consummate professional with over two decades of banking experience having joined Access Bank in 2002 from Guaranty Trust Bank, according to a statement.
The statement said, “Ogbonna has a very rich professional cum academic background. He is a fellow of the Institute of Chartered Accountants of Nigeria, an honorary member of the Chartered Institute of Bankers, a graduate of the Harvard Kennedy School of Government’s Senior Executive Fellow programme, an alumnus of Harvard Business School and a CFA charter holder. Read also: Access Bank’s 2021 profit hits seven-year-high on diversified business model
“He holds a Master’s degree in Business Administration from IMD Business School, Switzerland; a Master’s degree (LL.M) in International Corporate & Commercial Law from King’s College, London; an Executive Master’s degree in Business Administration from Cheung Kong Graduate School of Business; and a Bachelor’s degree in Banking and Finance from University of Nigeria, Nsukka.”
The board of Access Holdings also announced the appointment of Victor Etuokwu as Access Bank’s deputy managing director (Retail North) and Chizoma Okoli as deputy managing director (Retail South).
Mr. Victor Etuokwu
Etuokwu was appointed Executive Director of the Bank in 2012 and his appointment was renewed in 2022 following the expiration of his second term. He has approximately three (3) decades of banking experience cutting across Operations, Information Technology, Business Development and Retail Banking.
He commenced his professional career in Citibank Nigeria where he served in various capacities including Head, Operations and Records and Reconciliations. He joined the Bank in 2003 and has led several critical projects including the mergers with the defunct Intercontinental Bank Plc and Diamond Bank Plc.
Mr. Etuokwu holds a Bachelor’s of Science degree and a Master’s in Business Administration from the University of Ibadan and the University of Benin, respectively. He is an Honorary Senior Member of the Chartered Institute of Bankers of Nigeria and represents the Bank on the boards of E-Tranzact Plc and Unifies Payment Services Limited.
Mrs. Chizoba Okoli
Okoli is a seasoned professional with almost three decades of banking experience, she commenced her professional career in 1992 as an Executive Trainee in the defunct Diamond Bank Plc where she distinguished herself and rapidly rose through the ranks to become an Executive Director in 2016. Following the Bank’s merger with Diamond Bank in 2019, she was appointed Executive Director, Business Banking Division by the Bank.
Her experience cuts across commercial and consumer banking; corporate banking; branch banking, institutional banking, business banking and business development.
She obtained a Bachelor’s of Law degree from the University of Benin and a Master’s in Business Administration from Warwick Business School, United Kingdom. She is an Honorary Senior Member of the Chartered Institute of Bankers of Nigeria and a Member of the Institute of the Credit Administration of Nigeria.
Access Holding listed on NGX
The entire 35,545,225,622 issued shares of Access Bank were on Monday delisted from the daily official list of Nigerian Exchange Limited (NGX) while Access Holdings’ entire issued share capital of 35,545,225,622 ordinary shares of 50 kobo each were listed on the daily official list of NGX at N9.95 per share.
Access Holdings shares gained 30 kobo or 3.02 percent to N10.25 (nearing its 52-week high of N10.6) at the close of trading session on Monday from the preceding trading day’s N9.95.
Investors on Monday traded 15.457 million units of Access Holdings shares valued at N156.404 million. Trading in the shares of Access Bank Plc was suspended last Thursday to prevent trading in the shares of the bank in preparation for its eventual delisting from the daily official list of the NGX and the listing of the holding company, Access Holdings Plc, on the Exchange.
The delisting of Access Bank and listing of Access HoldCo on NGX are pursuant to the Scheme of Arrangement between Access Bank Plc and the holders of its fully paid ordinary shares of 50 kobo each as approved by the Securities and Exchange Commission (SEC) and sanctioned by the court.