Access Bank completes Holdco structure, names new subsidiary heads

Access Bank GMD buys 50 million additional shares

Access Holdings Plc has announced board changes at its banking subsidiary, Access Bank Plc, following the completion of a scheme of arrangement for holders of its fully paid ordinary shares of 50k.

In a statement signed by Mr Sunday Ekwochi, its Group Company Secretary, on Monday in Lagos, the board appointed Mr Roosevelt Ogbonna as Managing Director/Chief Executive Officer of the bank, while  Mr Victor Etuokwu, was named Deputy Managing Director, Retail North.

Similarly, Mrs Chizoma Okoli, becomes Deputy Managing Director, Retail South.

The statement  noted that the three appointments had been approved by the Central Bank of Nigeria, and would be effective May 2, 2022

It also announced the resignation of Mr Adeolu Bajomo as Executive Director, Information Technology and Operations with effect from September 30, 2022, following his decision to pursue other personal interests.

It added that the appointment underscores the effectiveness of the Group’s robust succession planning arrangement and follows the appointment of the incumbent, Dr Herbert Wigwe, as the Group Managing Director/ Chief Executive Officer, Access Holdings Plc.

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“Ogbonna has been the bank’s Deputy Managing Director since 2017. Before then, he was appointed Executive Director, Commercial Banking Division, in October 2013.

“The bank chief is a through-bred and consummate professional with over two decades of banking experience having joined Access Bank in 2002 from Guaranty Trust Bank.

The statement noted that Etuokwu was appointed an Executive Director of the bank in 2012 and his appointment was renewed in 2022 following the expiration of his second term.

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Etuokwu holds a Bachelor’s of Science degree and a Master’s in Business Administration from University of Ibadan and University of Benin respectively. He has attended several executive education programmes in prestigious institutions including Oxford Business School.

According to the statement, Okoli is a seasoned professional with approximately three decades of robust  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.

Her robust experience cuts across commercial and consumer banking; corporate banking; branch banking, institutional banking, business banking and business development.

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She obtained a Bachelor’s of Law degree from 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 Credit Administration of Nigeria.

Commenting on these developments, Mr Bababode Osunkoya, the Chairman of the Board said: “the new appointments reflect the robustness of our leadership succession plan and our decision to considerably strengthen our retail business while harnessing the potentials of SMEs and financial inclusion towards the attainment of group’s strategy.


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