CBN Tenure Limit: FBN DMD, Shobo First To Step Down, Others To Follow Business CBN
Consequently, bank and financial holding executives such as MD of Heritage Bank, Ifie Sekibo, MD of Access Corporation, Herbert Wigwe, MD of Guaranty Trust Holding Company, Segun Agbaje, founder and Chairman of Zenith Bank, Jim Ovia as well as Chairman of United Bank for Africa, Tony Elumelu.
Noting that the policy was long overdue, Olubunmi said it would allow for easier implementation of succession as he said the top level of the banking industry is heavy with those who have been in the industry for a long time thus, not giving room for younger talents to grow. “If within 12 years, you can’t develop people who will take over from you that means you are not serious about succession planning. If after being in an executive position for 12 years, you can’t identify two to four people that can take over from you then you are not serious about succession.
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