The Sun News
NairaBet advert

Ecobank’s CEO foregoes $1.14m bonus


Pan-African bank, Ecobank Transnational, on Wednesday disclosed that its Chief Executive Officer, Thierry Tanoh, would relinquish a $1.14 million bonus he was supposed to get for the 2012 financial year, as part of efforts to rebuild confidence after Nigeria’s SEC said it was investigating corporate governance breaches in the bank.

Tanoh told the governance committee of the board about his choice of relinquishing his entire bonus for the period.

Confirming the development to Daily Sun yesterday, a source from the bank’s Lagos subsidiary admitted that the bank’s helmsman and the management have agreed that $1.14million due to him be relinquished for the period.

Laurence Do Rego, the finance director who was recently relieved of his job had petitioned regulators claiming that Tanoh’s bonus was $935,967 and exceeded his entitlement.

Do Rego also claimed that the bonus was also awarded for a period before Tanoh was appointed CEO of the bank, which has operations in 34 African countries.

The former finance director also doubted processes applied to alter critical working indicators in Tanoh’s pay package.

Ecobank had on Monday announced that it had kick-started an in-house probe into claims of maladministration. It said this was in an effort to tackle the problem of confidence in the bank’s management.

But Tanoh stated that Ecobank’s governance committee would call on Do Rego to verify the allegations. Do Rego made the claims about Tanoh in a note to Nigeria’s Securities and Exchange Commission (SEC) in August this year. The Ecobank chief had rejected claims made against him by Do Rego, pointing out that his bonus had been increased for the 2012 period.


Men, forget Viagra. Use these to increase your manhood size & strength

24 yrs boy started importation with N10,450. Read his story here!

How watermelon made a Benin boy over N1,000,000 in 73days

How 2make over N500,000 in less than 12 days like I did

Superb premature ejaculation spray. You 'll last 30minutes+

How to earn 40k-200k monthly from football matches almost on autopilot

3 Things I did to cure premature ejaculation after my wife left me

Small manhood and premature ejaculation limited my performance for 4yrs!

7 Simple yet amazing steps to earn N300,000+ monthly online. Click here!

How to get flat belly in just 9 days. Click here!

How to turn your Facebook to ATM machine that vomits cash

How a young Nigerian generate over N1,000,000/month via digital marketing

Small manhood? This 1 trick will increase size & power in 7 days!

Housewife reveals How to Turn N8,500 into N100,000 monthly!

Shocking! See 1 crazy trick a man uses to last long on his wifey

How I Tripled my 12months salary in ONE Month after getting Fired

New solution helps men last 30 minutes in bed without drugs!

Advertise or promote your business on over a billion websites/blogs worldwide

About author

1 Comment

  1. kola amodu September 5, 2013 at 10:56 am

    It is known fact that Nigeria elites are responsible for most of de problems we have in this country. A case study ECO bank CEO incident.

Leave a reply

Your email address will not be published. Required fields are marked *


February 2016
« Jan    


Take advantage of our impressive statistics, advertise your brands and products on this site.
Call Uche on +234-805-633-4351

Nigerian Newspapers