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Ecobank Transnational Incorporated (ETI), plans to hold its 32nd Annual General Meeting (AGM) by proxy 30th June. The Company Secretary, Madibinet Cisse said the meeting would be in two sessions. The first one is “Annual General Meeting of Ecobank”, that will focus on the Approval of the accounts, Appropriation of the Profits, Election of Directors, Ratification of the co-option of directors, Renewal of the appointment of the joint auditors and Approval of the Final Board Fees for Retiring Directors.
However, the second session of the meeting tagged as “Extraordinary General Meeting”, would concentrate on the Withdrawal of resolution on consolidation of shares and Amendment of the Articles. The leading Independent Regional bank nnoted that the meeting attendance would be mainly by proxies in accordance with the Articles of Association of the Company and applicable law.
Ecobank said, “As a result of the significant public health concerns associated with the Covid-19 pandemic, the various governments and regulators in the countries where Ecobank operates including the Federal Government of Nigeria, the Nigerian Centre for Disease Control (NCDC) and the Government of Lagos State (the host state of the meeting) have issued new orders and directives limiting the number of people at public gatherings”.
As a responsible corporate citizen, ETI intends to strictly comply with this restriction in addition to other applicable health and safety measures. Accordingly, attendance at this year’s General Meetings shall be mainly by proxies in accordance with the Articles of Association of the Company and applicable law.
The bank said, “In view of the above reasons, a shareholder may choose any of the following persons as her/his proxy to represent her/him; Mr Emmanuel Ikazoboh (Chairman), Mr Patrick Akinwuntan (Managing Director, Ecobank Nigeria), Mr Olayiwola Olaleru (Managing Director, EDC Securities Limited), Mr Akeem Oyewole (Managing Director of Stanbic Nominees), Sir Sunny Nwosu (President, Independent Shareholders’ Association)”.
Adding that, “Shareholders are encouraged to submit in advance the proxy form available on the Ecobank website duly completed indicating their voting intentions and deposit same at Ecobank Transnational Incorporated, 2365 Boulevard du Mono, B.P. 3261 Lomé, Togo, or send an email to AGM@ecobank.com by close of business on 26 June 20203 .
Also, Shareholders will also be able to submit questions in advance of the General Meetings by sending an email to AGM@ecobank.com. Answers to the questions on key themes will be displayed on the Investor Relations page of the Ecobank website (www.ecobank.com/group/investorrelations) as soon as possible.
All relevant documents in connection with the meeting are available to all shareholders from the date of this notice at the Registered Office of the Company at the address above as well as on the Company’s website (www.ecobank.com).

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GTBank suffers mass staff resignation

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The  IT division at GTBank has suffered a continual decrease in personnel within the last six months. It has caused a significant technical lacuna and work overload for current employees. Reports reaching 1st News have it that GTBank has been slow in promoting its staff; inadvertently triggering a wave of exits into the labour market which had attractive offers for their talent.

The shortage in manpower is bringing about increased workload; and mounting pressure on the remaining IT employees.

One staff said, “I was handling one application then it doubled as a result.”

Another one also: “There’s a particular team where three members left in the space of one month. Now, four people’s responsibilities are being juggled by one person.”

Also Read: Banking tech is all about digital disruptions, financial services

And yet another staff said, “The pressure is crazy. One person is doing three people’s jobs all in the name of efficiency. That’s why our cost to income ratio will always be the lowest in the industry.”

An undisclosed source said the frequent loss of experienced workers without commensurate hiring resulted in gaps in technical capabilities.

He said: “The application I am managing was handled by two people; but my partner has gone to join another team. If I’m leaving now, a new person can’t cram; and get a good grip of everything in my handover note within 3 weeks. We simply need more people on the team!”

This gap is often reflected when there is a service downtime towards the end of the month caused by server overload. During this period, transaction volume increases due to salary payments; and other month-end payments; leading to more pressure on existing resources.

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Pyramids’ Road Trip Video to Aba Stadium, a Wake up Call, Says Egbe

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The Chief Executive Officer of Monimichelle Group, Ebi Egbe, has called on the federal government to do something on the state of the roads in the country, declaring that the state of the Port-Harcourt Aba Road has become a bad advertisement for the country.

The poor state of the federal highway came to the fore over the weekend when Egyptian side, Pyramids Football Club who flew in the club’s private jet landed

at the Port Harcourt Airport and made a video of the horrible road trip to Aba and posted it on the social media, calling it a shame.

Pyramids held Enyimba 1-1 in Aba yesterday but qualified 5-2 aggregate for the semi final of the CAF Confederation Cup.

But Egbe whose outfit constructed the Enyimba Stadium turf noted that the Egyptians deliberately wanted to paint the country in bad light by showing the video to the world.

Egbe was however quick to add that government on its part also need to avoid the country being embarrassed by her international visitors by fixing our roads.

“That video by Pyramids is to me, a wake up call for us to not only fix our stadiums but also fix our roads.

“Teams that come to Aba to play have always commended the playing turf. We need to get it right on all fronts. This is why I am appealing to the federal government to get our roads fixed.

“Our teams would return to the continent next term and it would be a shame if teams from other countries that are far less endowed come in and mock us that we ve got no good roads in the country,” Egbe stressed

He further charged the various state governments to also upgrade their stadium facilities just like other countries are doing.

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