Former SEC DG, Oteh resigns from ETI board

Arunma Oteh, a former Director-General of Nigeria Securities and Exchange Commission (SEC), has resigned from the board of Ecobank Transnational Incorporated (ETI).

According to the board chairman, Mr Emmanuel Ikazoboh, Oteh who joined the board in 2018, was resigning to focus on personal commitments. Oteh is currently an academic scholar at the St. Anthony’s College and Executive-in-Residence at Said Business School, University of Oxford.

London Stock Exchange- Ecobank Transnatonal
Ecobank Chairman Emmanuel Ikazoboh (2nd from left) opens the London Stock Exchange with Group CEO Ade Ayeyemi (3rd from left)

In an official statement released on the bank’s website on Tuesday, the Chairman and the Board thanked Ms Oteh for her valuable contributions and wished her success in her future commitments.

The Lomé-based parent company of the Ecobank Group also announced other changes on its Board of directors.

Mrs Zanele Monnakgotla will now step in as a Non-Executive Director and nominee of the Public Investment Corporation (PIC) of South Africa on the Board, replacing Dr Daniel Matjila who resigned from the ETI Board when he left his role as Chief Executive Officer of PIC.

Dr Georges Agyekum Nana Donkor will also join the board as a Non-Executive Director to replace Mr Bashir Mamman Ifo as the representative of Ecowas Bank for Investment & Development (EBID) on the Board of ETI.

Mr Ikazoboh, Chairman of the Board of ETI, commenting on the changes said, “We must first of all, sincerely express our appreciation to Mr Ifo and Dr Matjila for their contributions on the Board and their tireless dedication to the Ecobank Group. We know that they will always remain members of the Ecobank family. As we formally bid them farewell, I do warmly welcome, both Dr Donkor and Mrs Monnakgotla and believe that their respective expertise would be most beneficial to the Board.” 

The new directors: Dr Donkor is a Lawyer, Banker and Marketing Consultant with over twenty-five years’ experience in Senior Management capacities across several fields such as Finance, Strategic Management, Marketing, Legal, Compliance, and Administration.

Mrs Zanele Monnakgotla has over 20 years of public and private sector experience in Structured Finance and Strategy.

What you should know: The Ecobank Transnational Incorporated (ETI) is the parent company of the Ecobank Group, the leading independent pan-African banking group. The Group has a banking license in France and representative offices in Addis Ababa, Ethiopia; Johannesburg, South Africa; Beijing, China; London, the UK, and Dubai, the United Arab Emirates.

The Group offers a full suite of banking products, services and solutions including bank and deposit accounts, loans, cash management, advisory, trade, securities, wealth and asset management. ETI is listed on the Nigerian Stock Exchanges in Lagos, the Ghana Stock Exchange in Accra, and the Bourse Régionale des Valeurs Mobilières in Abidjan.

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