In a notice to the Nigerian Stock Exchange, (NSE), Fortis Microfinance Bank has announced the appointment of an Interim Management Committee by the Central Bank of Nigeria (CBN) to pilot the affairs of the bank.
Members of the committee include Bunmi Lawson who will serve as Managing Director/Chief Executive Officer, Tiko Okoye as Deputy Managing Director, and Adewale Aderounmu ED, Development Finance. Others include Oluwasaola Ajewole, ED Finance and Administration, Rebecca Sheyin ED Banking Operations and Chika Okey-Nwangwu ED Enterprise and Risk Management. Okoye and Aderounmu were executives on the previous board.
The committee has been mandated to maintain current operations and conclude negotiations regarding the bank’s restructuring. The bank last month disclosed it had embarked on a housecleaning exercise following some accounting irregularities. it also stated that news of its suspension by the Nigerian Stock Exchange had led many depositors to make panic withdrawals, believing this to be a suspension of its operating licence.
Here is a copy of the statement.
(Nairametrics)
