Aku to step down as Ecobank’s boss

• Board begins headhunt for successor
A new Managing Director and Chief Executive Officer of Ecobank Nigeria Plc is expected to emerge before the end of the year, sequel to the planned step-down of the current helmsman of the financial institution, Jubril Aku, next month.

Aku is stepping down having concluded his five-year tenure with the bank, which is the largest subsidiary of Ecobank Transnational Incorporated (ETI).

According to a statement from ETI yesterday, “Aku will take on another senior role in the firm in the first quarter of 2016.”
The Chairman of Ecobank Nigeria, John Aboh affirmed yesterday that ”the board will immediately activate the process of selecting a successor. The successful candidate will be announced before the end of next month.”

Aku, a distinguished banker, spent the most part of his banking career with Citibank (Nigeria International Bank), before joining former Afribank Nigeria Plc as Executive Director, Operations and Technology from 2003 to 2005.

Thereafter, he joined Ecobank Nigeria in 2006 as Executive Director responsible for the bank’s Treasury and Financial Institutions business, following which he was subsequently appointed Managing Director of Ecobank Nigeria in 2010.
The Group’s Chief Executive Officer, Ade Ayeyemi, described Aku as a quintessential manager, who has been instrumental in leading the Ecobank franchise to its position in the Nigeria banking industry today.

“With the Oceanic Bank acquisition, Aku positioned the bank from number 13 to its current position of number six.”
The outgoing CEO said he was “proud of what the team and I have achieved together, and I thank them for the good work and their unwavering commitment to Ecobank. Our board stood with us, and was steadfast in its support.
“I must, therefore, extend my sincere appreciation to the board and the team. Despite some of the market challenges that we faced over the years, our customers have always been loyal, and it is their patronage that led to the achievements we see today.”

Aboh also congratulated Aku for the good work he and his team had achieved, and said he looked forward to the bank improving on this.