Why We Resigned Fom NESG – Bank CEOs

The Chief Executive Officers of three commercial banks who resigned from the Nigerian Economic Summit Group (NESG) have provided further insights on why they had to leave the summit.

The bank managing directors who resigned include Kennedy Uzoka, the CEO of United Bank for Africa (UBA) Dr. Adesola Adeduntan, CEO of FirstBank Nigeria and Mr. Abubakar Suleiman, CEO of Sterling Bank and all resigned from the board of the NESG Board on Wednesday.

“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 policymakers. How would the NESG issue such a statement without the input of Board members?” one of them is quoted to have said.

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.”

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