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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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Femi Pedro Replaces Late Kemi Nelson in GAC

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A former Deputy Governor of Lagos State, Femi Pedro, has made a comeback from political oblivion and relegation. He is now back to political relevance and wielding enormous powers, at least at the state level.

 

At the time he was poached from the banking sector in the early 2000, where he was at that time, the Managing Director of defunct First Atlantic Bank, to be Bola Ahmed Tinubu’s deputy in Lagos, he wielded some degree of power and was naturally courted by many who requested one favour or the other from him. But that wasn’t for long as no sooner had he tasted power than he began to tussle with his benefactor over his choice of successor in the twilight of his boss’ administration.

 

Pedro wanted to succeed his boss but the latter didn’t think he was the right man for the job. In anger, he began to throw tantrums, resigned and moved to another party, hoping to fulfill his ambition. Unfortunately, things didn’t quite work out as he wanted and that was the beginning of his end.

 

The Lagos State House of Assembly naturally decided to impeach him for alleged gross misconduct and subsequent forfeiture of all his entitlements as Deputy Governor of Lagos State. He suffered badly for seven years for his political miscalculation. He became relegated in the scheme of things. After some soul searching, he swallowed his pride and went back to his boss when he couldn’t remedy his situation. He was accepted back albeit, warily. He had to prove his loyalty and after a few tests he passed.

 

First, he got a pardon from the State House of Assembly orchestrated by his former boss, for his impeachment. This was after the House considered his plea to be forgiven in a letter he wrote them in 2015. Then he was given a federal appointment, as the Chairman of the Board of Directors of the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), courtesy of the influence of his former boss. To further restore his political relevance, he was recently appointed to the Council of the Governor’s Advisory Council, GAC, the highest decision-making body of the All Progressives Congress in Lagos State.

 

His appointment may likely be a replacement to the vacant position of the late former women leader in South West APC, Kemi Nelson who was a commissioner during Tinubu’s tenure as governor. Until her death weeks ago, she was the only female in GAC, a position she earned due to her closeness to Tinubu and her immense contributions to the party in Lagos State. With Pedro’s appointment, one can rightly say that he is back to political reckoning.

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SIFAX Boss, Taiwo Afolabi’s Twin Brother Dies  

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Sifax and Marriot Hotel boss , Dr. Taiwo Afolabi is not a happy man at the moment. He has just lost his twin brother Kenny Afolabi to the cold hands of death.

 

Kenny, who was popularly known as Watari when he was alive we learnt died in his sleep. Though, many people around him beleive he was nursing an ailment that made him stop drinking some years back, but none could say what killed him eventually.

 

Taiwo Olayinka Afolabi is a Nigerian business magnate and lawyer. He is the founder and current C.E.O of SIFAX Group, a conglomerate that deals in Maritime, Aviation, Haulage, Hospitality, Financial Services and Oil and Gas, while Kenny Afolabi was known with his Hotel known as Ken Dallas that has its location somewhere in Ikotun, Lagos.The late Kenny pictured left above with his brother,Taiwo, was 60yrs old.

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