Following the controversy surrendering the Nigerian Economic Summit Group (NESG), Managing Directors of three commercial banks who resigned has given reasons why they stepped down from the board of NESG.
According to explanation from one of the CEOs, that “Given that we have such full access, how can we turn around and issue a statement criticising policies that we are part of the consultative process? If we have concerns we have full access and platforms to share them with policy makers. How would the NESG issue such a statement without the input of Board members?”
Another also cited the comments made by Prof. Konyin Ajayi (SAN), who had explained to board members of the NESG that the alleged immunity clause provisions were “misplaced” as it was included in the laws like that of the NDIC Act, CBN Act, and AMCON Act.
“Despite that, they went ahead to issue the statement, which means that they have other motives, beyond their concern for public policy…And publishers who are members of the board of the NESG must not be allowed to abuse their position in getting board issues at the NESG published, without disclosing that they are participants and the co-authors of the NESG statement. In issuing that statement without consultations with the board, the NESG left my continuing participation untenable resulting in my resignation.”
The bank managing directors who resigned include Kennedy Uzoka, the MD/CEO of UBA Plc, Mr. Abubakar Suleiman, the CEO of Sterling Bank, and First Bank CEO, Mr. Adesola Adeduntan all resigned from the board of the NESG Board on Wednesday.
