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Ecobank Will Challenge Court Judgment Requesting it Pay Former CEO $15m

Nairametrics by Nairametrics
January 19, 2015
in Uncategorized
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  • Ecobank Transnational Inc will challenge a ruling by a commercial court in Ivory Coast that the pan-African bank must pay $15 million in damages to former chief executive Thierry Tanoh, a spokesman said on Monday.
  • The court ruled last week that a letter written by Ecobank board member Daniel Matjila last year and published in the media tarnished the image of Tanoh, who was dismissed last March.
  • Matjila is chief executive of South Africa’s Public Investment Corporation, which was the largest shareholder in Ecobank until Qatar National Bank bought a stake of more than 23 percent in September.
  • The appeal would be to Ivory Coast’s Court of Appeal in Abidjan, said a lawyer for Tanoh. Judgement in a separate case involving Tanoh’s dismissal filed in Togo is expected on Feb. 3, Uku said.
  • Source Reuters

 

Tags: Ecobank
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