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CBN Reviews MD, DMD, ED, NED Tenure In Banks ~ OsazuwaAkonedo #banks #breaking #cbn #DMD #economy #ED #Emefiele #Godwin #MD #Naira #NED #reviews

CBN Reviews MD, DMD, ED, NED Tenure In Banks

Posted on February 24, 2023February 24, 2023 By OsazuwaAkonedo No Comments on CBN Reviews MD, DMD, ED, NED Tenure In Banks
Breaking News, Economy, news, World News

Central Bank of Nigeria, CBN has reviewed the tenure of Managing Director, Deputy Managing Director, Executive Director and Non-Executive Director of Deposit Money Banks and Other financial institutions in Nigeria.

CBN in a circular signed by Chibuzo Efobi, the apex bank Director of Financial Policy and Regulatory Department, said the changes in the tenure of the banks top management staff take effect from Friday 24, February, 2023.

“RE: REVIEW OF TENURE OF EXECUTIVE MANAGEMENT AND NON-EXECUTIVE
DIRECTORS OF DEPOSIT MONEY BANKS IN NIGERIA

“The Central Bank of Nigeria (CBN) has revised the regulatory requirements for the tenure of Executive Management and Non-executive Directors of Deposit Money
Banks and Financial Holding Companies in the Code of Corporate Governance for Banks and Discount Houses (Ref: FPR/DIR/CIR/GEN/01/004), as part of measures
aimed at strengthening governance practices in the banking industry.

“Consequently, the following tenure requirements shall apply effective the date of this Circular:

“The tenure of Executive Directors (ED), Deputy Managing Directors (DMD) and Managing Directors (MDs) shall be in accordance with the terms of their engagement approved by the Board of Directors of banks, subject to a maximum tenure of ten (10) years.

“Where an Executive who is a DMD becomes the MD/CEO of a bank or any other DMB before the end of his/her maximum tenure, the cumulative tenure of such Executive shall not exceed twelve (12) years.

“However, for an Executive (ED) who becomes a DMD of a bank or any other DMB, his/her cumulative tenure as ED and DMD shall not exceed 10 years.

“Non-Executive Directors (NEDS), with the exception of Independent Non
Executive Director (INED), shall serve for a maximum period of twelve (12)
years in a bank, broken into three terms of four years each.

“EDs, DMDs and MDs who exit from the Board of a bank either upon or prior to the expiration of his/her maximum tenure, shall serve out a cooling-off period of 1 year before being eligible for appointment as a NED to the Board of Directors.

“NEDs who exit from the Board of a bank either upon or prior to the expiration
of his/her maximum tenure of 12 years (3 terms of 4 years each), shall serve out
a cooling-off period of 1 year before being eligible for appointment to the Board
of Directors of any other DMB.

“The cumulative tenure limit of EDs/DMDs, MDs and NEDS across the banking industry is 20 years.

“Please be guided accordingly”, CBN stated.

CBN Reviews MD, Others Tenure In Banks pic.twitter.com/0tspV6f5ae

— OsazuwaAkonedo (@OsazuwaAkonedo) February 24, 2023
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Tags: #banks #breaking #cbn #DMD #economy #ED #Emefiele #Godwin #MD #Naira #NED #reviews
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Hilda Baci 4 Days Nonstop Cooking World Record Shows: Nigerian Resilient Spirit - Obi, Nigerian Can-Do Attitude - Tinubu, Uniqueness In Nigerian Food - Buhari ~ OsazuwaAkonedo #Ahmed #attitude #Baci #Bassey #Bola #breaking #Buhari #cooking #Effiong #entertainment #Guinness #Hilda #Indian #job #Lata #Muhammadu #Nigerian #nonstop #Obi #Peter Hilda Baci 4 Days Nonstop Cooking World Record Shows: Nigerian Resilient Spirit – Obi, Nigerian Can-Do Attitude – Tinubu, Uniqueness In Nigerian Food – Buhari May 15, 2023 5:21pm
Fela Son, Seun Kuti Now In Our Custody - Police ~ OsazuwaAkonedo #Seun #breaking #custody, #entertainment #Falana #Fela #job #Kuti #Nigeria #Police #security Fela Son, Seun Kuti Now In Our Custody – Police May 15, 2023 12:23pm
Seun Kuti: A 'Mad' Son From A 'Mad' Marriage - Charles Awuzie ~ OsazuwaAkonedo #Seun #‘mad’ #Awuzie #Charles #entertainment #Fela #Igp #job #Kuti #Marriage #Nigeria #Police #security Seun Kuti: A ‘Mad’ Son From A ‘Mad’ Marriage – Charles Awuzie May 14, 2023 3:25pm
My Wife Deserves Everything On Earth - David Ugolor ~ OsazuwaAkonedo #ANEEJ #columns #David #deserves #entertainment #everything #job #Ngozi #Ugolor My Wife Deserves Everything On Earth – David Ugolor May 14, 2023 9:14am
Mercy Johnson Loses Dad ~ OsazuwaAkonedo #Ametuo #breaking #Daniel #entertainment #Johnson #Mercy #Nollywood #Okojie Mercy Johnson Loses Dad May 5, 2023 2:51pm

LIFE

Onitsha-Owerri Federal Road Now Deathtrap In Oba ~ OsazuwaAkonedo #Abia #AkwaIbom #Anambra #Benin #Bola #Charles #CrossRivers #Deathtrap #Enugu #Erosion #FG #Gully #Imo #Lagos #oba #Onitsha #Owerri #PortHarcourt #Rivers #Soludo Onitsha-Owerri Federal Road Now Deathtrap In Oba August 6, 2023 4:04pm
Death Toll Rises More Than 288 In Indian Train Multiple Collision ~ OsazuwaAkonedo #Balasore #Indian #Odisha #Train Death Toll Rises More Than 288 In Indian Train Multiple Collision June 3, 2023 1:47pm
Unknown Gunmen: How Access Bank Chief Security Officer Saves Customers, Other Staff Lives In Ihiala ~ OsazuwaAkonedo #Access #Bank #breaking #customers, #Gunmen #Ihiala #Nigeria #Officer #Okija #security #Sit-at-home #Unknown Unknown Gunmen: How Access Bank Chief Security Officer Saves Customers, Other Staff Lives In Ihiala May 11, 2023 2:05am
Zelenskyy To Putin: We Are Actively Preparing For New Events In May, June ~ OsazuwaAkonedo #actively #Bakhmut #preparing #Prigozhin #Putin #Russia #Ukraine #Vladimir #Volodymyr #Wagner #Yevgeny #Zelenskyy Zelenskyy To Putin: We Are Actively Preparing For New Events In May, June May 7, 2023 11:39pm
EFCC Office In Enugu On Fire ~ OsazuwaAkonedo #EFCC #Enugu #Fire EFCC Office In Enugu On Fire May 6, 2023 6:55am
"I Don't Need Anything From Bad People" Victim Speaks As UK Court Sentences Ekweremadu, Wife, Doctor To 9, 4, 10 Years Imprisonment ~ OsazuwaAkonedo #“i #Abuja #anything #breaking #David #don’t #Ekweremadu #Enugu #imprisonment #justice #Lagos #London #Medical #Nigeria #Nigerian #Nwamini #people” #Police #sentences #UK “I Don’t Need Anything From Bad People” Victim Speaks As UK Court Sentences Ekweremadu, Wife, Doctor To 9, 4, 10 Years Imprisonment May 5, 2023 5:12pm
Ukraine Drills For Offensive Actions Against Russia As Zelensky Honours 750 More Fighters ~ OsazuwaAkonedo #actions #against #fighters #Honours #Kyiv #offensive #Putin #Russia #security #Ukraine #Vladimir #Volodymyr #Zelensky Ukraine Drills For Offensive Actions Against Russia As Zelensky Honours 750 More Fighters April 29, 2023 9:04pm
Sudan War: Why Nigerian Students Abandoned In Desert Couldn't Enter Egypt - FG ~ OsazuwaAkonedo #abandoned #Aswan #couldn’t #Egypt #FG #job #Khartoum #Nigerian #security #students #Sudan #war Sudan War: Why Nigerian Students Abandoned In Desert Couldn’t Enter Egypt – FG April 29, 2023 5:52am

EDITORIAL

We Are Set ~ OsazuwaAkonedo #Ezoic #WordPress We Are Set August 3, 2023 6:46am
Fuel Subsidy Removal: Where I Stand, Tinubu Speaks With Indication FG Shifts To Loan Elite Companies ~ OsazuwaAkonedo #Bola #Fuel #Loans #Subsidy #Tinubu Fuel Subsidy Removal: Where I Stand, Tinubu Speaks With Indication FG Shifts To Loan Elite Companies July 31, 2023 11:41pm
If you Can't Vote, Convince One Person To Vote Your Candidate Now ~ OsazuwaAkonedo ##LP ##Obidients #2023Election #Abubakar #Ahmed #APC #Atiku #Atikulates #Bola #breaking #can’t #candidate #columns #convince #economy #editorial #Education #entertainment #Jagaban #newspapers If you Can’t Vote, Convince One Person To Vote Your Candidate Now February 24, 2023 3:25pm
May The Souls Of Our Brothers, Sisters Who Couldn't Make It To 2023 Rest In Peace - Buhari ~ OsazuwaAkonedo ##Boko #2022 #2023Election #army #bandits #Buhari #EndSARS #Gunmen #Haram #iswap #Kuje #Muhammadu #Police #terrorists #Unknown May The Souls Of Our Brothers, Sisters Who Couldn’t Make It To 2023 Rest In Peace – Buhari January 1, 2023 10:05am
Judge Asking Okupe To Pay Fine For Collecting Physical Cash On Security Assignment Maybe Unprofessional, Embargo To National Security ~ OsazuwaAkonedo ##LP ##Obidients #Buhari #Dasuki #Doyin #Ebele #EFCC #FG #Goodluck #Ijeoma #Jonathan #Muhammadu #NTA #Obi #Ojukwu #Okupe #Omokri #ONSA #PDP #Peter Judge Asking Okupe To Pay Fine For Collecting Physical Cash On Security Assignment Maybe Unprofessional, Embargo To National Security December 20, 2022 5:59am
I'm Not Extension Of Anybody, Peter Obi Is The Best Candidate For Nigeria - Soludo's Son Ozonna ~ OsazuwaAkonedo ##LP #Ozonna #2023Election #Anambra #APGA #Charles #Obi #Peter #Soludo I’m Not Extension Of Anybody, Peter Obi Is The Best Candidate For Nigeria – Soludo’s Son Ozonna November 15, 2022 4:07pm
IGP, Others Hold Night Ceremony At Airport To Welcome Buhari ~ OsazuwaAkonedo ##LP #Alkali #APC #Baba #Buhari #Igp #London #Muhammadu #PDP #security #Usman IGP, Others Hold Night Ceremony At Airport To Welcome Buhari November 14, 2022 6:28am
Elon Musk Give Reasons Over Twitter Workers Sacked ~ OsazuwaAkonedo #election #media #twitter #workers #Elon #Musk Elon Musk Give Reasons Over Twitter Workers Sacked November 5, 2022 3:27pm

TRENDING

Traditional Rulers' Silence, No Longer Golden ~ OsazuwaAkonedo #Bill #FG #Fulani #government #herdsmen #Law #Malcolm #Nigeria #North #Omirhobo #Resources #Water Traditional Rulers’ Silence, No Longer Golden September 3, 2022 12:25pm
ANEEJ, Police, Others Meet In Benin For Crime Prevention Strategies ~ OsazuwaAkonedo #ANEEJ #CAN #DavidUgolor #NigeriaPoliceForce ANEEJ, Police, Others Meet In Benin For Crime Prevention Strategies March 29, 2022 9:12am
DSS, Prison Operatives In Free For All Fight Over Godwin Emefiele's Custody ~ OsazuwaAkonedo #Bola #cbn #Dss #Emefiele #Godwin #NCS #Tinubu DSS, Prison Operatives In Free For All Fight Over Godwin Emefiele’s Custody July 25, 2023 4:04pm
Russia-Ukraine War, Nigerians To Suffer More Hardship ~ OsazuwaAkonedo #Nigerians #Russia #RussiaUkraineWar #Ukraine #VladimirPutin Russia-Ukraine War, Nigerians To Suffer More Hardship February 28, 2022 8:15am

MONTH

Test ~ OsazuwaAkonedo Test September 16, 2023 8:35am
Police Rescues Kidnapped Victim In Anambra ~ OsazuwaAkonedo #Anambra #Kidnapping #Onitsha #Police Police Rescues Kidnapped Victim In Anambra September 2, 2023 8:19pm
Morocco Confirms 2497 People Killed In Friday Night Earthquake ~ OsazuwaAkonedo #AlHaouz #Casablanca #Marrakech #earthquake #Morocco Morocco Confirms 2497 People Killed In Friday Night Earthquake September 11, 2023 1:39pm
DSS Raises Alarm As Banks Plan To Shutdown Services Nationwide ~ OsazuwaAkonedo #banks #Bola #Dss #NLC #PEPT #Strike #Tinubu #Tribunal DSS Raises Alarm As Banks Plan To Shutdown Services Nationwide September 4, 2023 8:42pm

WEEK

Mohbad's Spirit Is Strong, I Find It Hard To Sleep - Davido ~ OsazuwaAkonedo #Lagos #Larry #Marley #Mohbad #Naira #Police #Sam Mohbad’s Spirit Is Strong, I Find It Hard To Sleep – Davido September 20, 2023 6:58am
BRA Claims Responsibility For 8 Soldiers, Other Operatives Killed In Imo ~ OsazuwaAkonedo #Abia #Biafra #BRA #Ekpa #Gunmen #Imo #ipob #Ohafia #Simon #SitAtHome #Umualumaku #Unknown BRA Claims Responsibility For 8 Soldiers, Other Operatives Killed In Imo September 21, 2023 6:39am
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Economy

  • Abuja-Kaduna Train Kidnapped Victims Begged For Life In New Video As 4 Days Remains

    May 26, 2022

  • Nigeria Aircraft En Route Niger Crashes In Chukuba Village

    August 14, 2023

  • Bandits Kill DPO, Others, Abduct Women In Zamfara

    March 5, 2023

  • First World Champion, Amusan In Tears At The Sound Of Nigeria Anthem

    July 25, 2022

  • Herdsmen: My Brother, Olajide Sowore’s Killing Will Not Delay Their Day Of Justice – Omoyele Sowore

    September 5, 2021

Entertainment

  • I’m Confused, Which Region Does Cross River State Belong – Buhari’s Aide Bashir Ahmad

    February 16, 2022

  • Names, Portfolio Of Anambra New Commissioners, Special Adviser On Security

    April 9, 2022

  • Police Sacks Officer For Checking Road User’s Phone

    August 12, 2022

  • History Of Presidential Pardons To Some High Ranking Convicted Persons In Nigeria

    April 17, 2022

  • Entire 1999 Nigeria Constitution Should Be Re-drafted___Delta State Governor Ifeanyi Okowa #OsazuwaAkonedo

    May 27, 2021

Security

  • How PDP Submitted Fake Result

    May 28, 2022

  • Another Young Man Attempts Suicide In Lagos

    June 2, 2022

  • Why Many Nigerians Have Naira Notes In Their Hands Abroad

    January 29, 2023

  • Why Facebook Is Like A Tobacco Company, Denying Its Harms – Former Exployee Frances Haugen

    October 5, 2021

  • Mothers Are Pride Of Humanity, Igodye Commends 92-Year-Old Voter In Osun Guber Election

    July 16, 2022

Politics

  • Don’t Send Me To Nigeria Prison – Abba Kyari Begs Court, You Will Take Care Of Yourself In Our Cell – NDLEA

    March 7, 2022

  • Why President Muhammadu Buhari Gave ‘Christmas Bonus’ To Police – Femi Adesina

    December 24, 2021

  • Pending Attack On Niger Republic, Unpopular At Home – Femi Fani-Kayode Tells Tinubu

    August 13, 2023

  • Man Burnt Alive In Lagos Over N100

    May 15, 2022

  • We Are Addressing Insecurity From Its Economic Source Via Construction Of Rail Linking South To North, Niger Republic – Buhari

    December 13, 2021

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