Tunde Folawiyo Bows Out, As Paul Usoro Steps In As Access Bank Non – Executive Director

There is a change at financial institution, Access Bank.

The development is detailed in this report made available to societynowng.com

‘Access Bank Plc has announced the appointment of Mr. Paul Usoro as a non-executive director of the bank.

‘A statement by the bank on Tuesday said Usoro, a Senior Advocate of Nigeria, would bring on board his extensive boardroom experience from some of Nigeria’s leading companies and multinationals.

According to the statement, Usoro has over 30 years post-call experience and is acknowledged as one of Nigeria’s brightest litigators and foremost communication law expert.

‘Usoro currently serves on the Board of Airtel Network Limited (and the Chairman of the Audit Committee), Nigeria Bulk Electricity Traders Plc, Marina Securities Limited, Premium Pension Limited and PZ Cussons Nigeria Plc.

He represented Access Bank on the Board of Intercontinental Bank in 2011 as a non-executive director following the bank’s acquisition of the Intercontinental Bank Group.

‘He holds a Bachelor of Law Degree from the University of Ife (1981) and was called to the Nigerian Bar in 1982.

His appointment has been approved by the Central Bank of Nigeria.

The Chairman, Access Bank, Mr. Gbenga Oyebode, said on the appointment, “I am delighted to welcome Paul on the Board of Access Bank. He brings on board a very rich professional and corporate board experience relevant to our industry as well as a deep understanding of the needs of shareholders. I am certain that these skills can only benefit Access Bank in our quest to become the world’s most respected African bank.”

‘In a related development, the bank’s board has announced the retirement of Dr. Babatunde Folawiyo as a non-executive director following the completion of the maximum 12-year term stipulated by the CBN’s code of corporate governance for banks in Nigeria.

Folawiyo has confirmed that he has no disagreement with the board in any respect and there is no matter relating to his retirement that needs to be brought to the attention of the bank’s shareholders or the Nigerian Stock Exchange.

With this appointment, Access Bank’s board is made up of 16 directors, seven of whom are in the executive capacity while nine are non-executives, including two independents.’