6 August 2013
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Ecobank (Lome)

Board of Ecobank Transnational Incorporated Unanimously Reaffirms its Confidence in Chairman

press release

The Board of Directors of Ecobank Transnational Incorporated (ETI) has reviewed issues relating to two financial transactions involving ETI Chairman, Mr Kolapo Lawson.

These comprise a personal agreement between him and AMCON and an agreement with Ecobank Nigeria on the part of a company of which he is Chairman. The Board concluded that there had been no financial impropriety and that Mr Lawson had acted in good faith throughout. As a result, the Board unanimously reaffirmed its confidence in Mr Lawson.

Speaking on behalf of the Board, Vice-Chairman, Mr André Siaka said:

"Kolapo Lawson has been a loyal servant of Ecobank for many years and has been a major contributor to its on-going success.   We are happy unanimously to reiterate our full support for Mr Lawson and his leadership and look forward to renewing our focus on continuing the remarkable success of Ecobank."

Mr Lawson added:

"I am pleased that we have been able to draw a line under this matter.   The Board has made clear that it has no outstanding concerns and I now wish to concentrate once again on leading Ecobank to further success."

Notes to Editors

About Ecobank: Incorporated in Lomé, Togo, Ecobank Transnational Incorporated (ETI) is the parent company of the leading independent pan-African banking group, Ecobank. It currently has a presence in 34 African countries, namely: Angola, Benin, Burkina Faso, Burundi, Cameroon, Cape Verde, Central African Republic, Chad, Congo (Brazzaville), Congo (Democratic Republic), Côte d'Ivoire, Equatorial Guinea, Gabon, Gambia, Ghana, Guinea, Guinea-Bissau, Kenya, Liberia, Malawi, Mali, Niger, Nigeria, Rwanda, Sao Tome and Principe, Senegal, Sierra Leone, South Africa, South Sudan, Tanzania, Togo, Uganda, Zambia, Zimbabwe.

The Group is also represented in France through its affiliate EBI SA in Paris. ETI also has representative offices in Dubai-United Arab Emirates, London-UK and Beijing-China. ETI is listed on the stock exchanges in Lagos, Accra, and the West African Economic and Monetary Union (UEMOA) – the BRVM. The Group is owned by more than 600,000 local and international institutional and individual shareholders. The Group employs nearly 19,000 people from 40 different countries in over 1,200 branches and offices. Ecobank is a full-service bank providing wholesale, retail, investment and transaction banking services and products to governments, financial institutions, multinationals, international organizations, medium, small and micro businesses and individuals. Additional information may be found at : www.ecobank.com.

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