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Vol 55 No 6

Published 21st March 2014


Togo

Tanoh goes as Ecobank cleans house

Ecobank dismisses Chief Executive Thierry Tanoh and reinstates the sacked whistle-blowing Finance Director

In what regional financial experts describe as striking a blow for good governance, on 11 March the board of Ecobank pushed out its Chief Executive Officer Thierry Tanoh, the Ivorian who had been at the centre of a succession of rows over ethics and accountability at the pan-African bank. The furore, which blew up last July, has also tested whether some of Africa's biggest financial institutions and regulatory authorities can deal with powerful vested interests to resolve a cross-border crisis. At the same meeting in Yaoundé, Cameroon, the Ecobank board appointed Ghana's Albert Essien as new CEO and reinstated Benin's Laurence do Rego as Director of Finance and Risk.

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