NIGERIA – Union Bank of Nigeria Plc, one of the leading commercial banks in Nigeria, has announced the appointment Mr Emeka Anthony Ogbechie and Mr Paul Kokoricha as Non-Executive Directors.
Their appointment comes at a time when the Covid-19 pandemic is taking its toll on the Bank’s operations, significantly affecting its revenues.
In the first half of the year, Union Bank made a profit of US$27.90 million, 9% year-on-year decline when compared to the US$31.03 million posted in 2019.
In a disclosure notification to the Nigerian Stock Exchange (NSE), Union Bank said that Emeka Anthony Ogbechie was appointed to replace Mr Dick Kramer, who retired from the Board of the Bank.
The Bank further revealed that Mr. Paul Kokoricha was appointed to replace Mr Cyril Odu, who passed on in September last year.
According to the Bank’s disclosure statement, Mr Ogbechie is a seasoned finance professional with experience in Strategy and Corporate Planning, Portfolio Management and Benchmarking, Financial Reporting, Analytics and Tax Planning, Treasury and Liquidity Management and Cost Optimization.
Mr. Ogbechie is currently the Chief Finance Officer of Capital Alliance Nigeria; a position he has held since 2019.
Before joining Capital Alliance Nigeria, Mr Ogbechie had held positions in several local and international organizations including Equity Bank Kenya Limited, UBA Capital Plc, Credit Suisse London, Deloitte London, and Ernst & Young, London.
Mr Ogbechie holds a Bachelor of Arts degree in Business Administration from American Intercontinental University and a Master of Science degree in Management from the London School of Economics.
He is a member of the Institute of Chartered Accountants in England and Wales and holds an MBA (Strategy and Finance) from INSEAD.
Paul Kokoricha, on the other hand, is a Partner at African Capital Alliance, a private equity investment management firm.
Mr. Kokoricha has extensive experience in private equity investment management as well as in business turnarounds, transformation and re-organization.
Before he joined African Capital Alliance, Mr Kokorocha worked with Liberty Bank Plc for 8 years as Group Head of Operations with responsibility for Operations and Information Technology across the bank.
He has also worked with Arthur Andersen & Co, providing accounting, consulting, and audit services to varied clients in financial services, oil and gas, construction and manufacturing sectors.
Mr Kokoricha holds a B. SC in Economic from the University of Nigeria, Nsukka and is a Fellow of the Institute of Chartered Accountants of Nigeria.
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