Ecobank Appoints Body To Assess Corporate Governance | Bizness Watch

Ecobank Appoints Body To Assess Corporate Governance

In a bid to strengthen position in the African market, pan-African lender, Ecobank Transnational Incorporated (ETI), had contracted the Swiss-based Global Board Centre (GBC) to evaluate its corporate governance issues, it said on Monday.The GBC, which is part of the Swiss-based International Institute for Management Development (IMD), will also assess the firm’s processes of managing deals, the composition of its committee structures and also investigate incentive policies.

This announcement comes shortly after the sudden resignation of the group’s director of risk and finance, Laurance do Rego.

The lender could not give detailed reasons for his departure. It only released a terse statement about do Rego’s departure.

Do Rego had apparently called on the Nigerian Securities and Exchange Commission to probe the lender because some high-powered executives at the lender were set to dispose of some of its assets at lower prices.

The report by GBC is expected to come out at the end of this month.

Ecobank has admitted that its board and executive management committee had recognised and addressed errors in audit and internal controls within the company.

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