The Board of Directors of Royal Exchange Plc. has announced the appointments of Alhaji Auwalu Muktari, former Group Executive Director (Marketing and Sales), as the Acting Group Managing Director of the financial institution and Francis Okoli as the Group Chief Finance Officer.

According to a statement, the appointments followed the “expiration of the employment contracts of the erstwhile Group Managing Director, Chike Mokwunye, and the resignation of the former Chief Financial Officer.”

Chairman, Board of Directors, of the company, Kenneth Odogwu, who announced the new appointments extolled the virtues of the exiting officers, especially Mokwunye, and commended their esteemed services and contributions to the growth and success of the Royal Exchange Group.

He also expressed sincere appreciation to Mokwunye for the cordial and harmonious working relationship that existed between him and the board during his five-year tenure as group managing director.

Okoli, who was the Assistant General Manager and Head of Accounts, Royal Exchange Prudential Life, a subsidiary of Royal Exchange Plc, has been promoted to Deputy General Manager and appointed the Group Chief Finance Officer.