Three bank Chiefs quit NESG Board over disagreement on CBN’s economic interventions

CHIEF Executive Officers (CEOs) of three prominent banks have quit their membership of the Nigerian Economic Summit Group (NESG) board.

Checkout Magazine learnt their decision was in protest against the NESG’s position against some of the measures taken by the Central Bank of Nigeria (CBN) to stabilise the financial system and fast-track economic recovery.

The Central Bank of Nigeria had also initiated a chain of policies to mitigate the negative impacts of the Coronavirus pandemic on Nigerians.

Those who resigned from the NESG board are United Bank of Africa (UBA) Plc Group Managing Director Kennedy Uzoka; First Bank of Nigeria (FBN) Plc Managing Director Adesola Adeduntan and Sterling Bank Plc Managing Director Abubakar Suleiman.

Suleiman runs Sterling Bank, where Asue Ighodalo, who is the chair of the NESG board, also serves as Chairman.

Apart from Ighodalo, others on the NESG board are: Niyi Yusuf (Vice-Chairman); Mrs. Onyeche Tifase (Vice-Chairman) and Laoye Jaiyeola (CEO).

On Tuesday, the NESG criticised CBN’s intervention policies as not being in the interest of the economy.

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