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Home Companies Company News

Internal scuffles? Ikpobe resigns as UBA Deputy Managing Director

Nairametrics by Nairametrics
June 17, 2015
in Company News
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United Bank for Africa Plc (“the Bank”) has notified The Nigerian Stock Exchange of the resignation of Mr. Apollos Ikpobe, a former Deputy Managing Director of the Bank effective 11 June 2015.

The resignation of Mr. Ikpobe was duly accepted by the Board of Directors of the Bank at its meeting of 15 June 2015.

This news comes as a surprise as Mr. Ikpobe was appointed Deputy Managing Director of UBA in September 2013. Before then he was a director in Zenith Bank and was once rumoured as the successor to Jim Ovia.

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Apollos-Ikpobe

This sudden exit may stoke fears of an internal scuffle in UBA and to a larger extent with Tony Elumelu. Mr Elumelu is know to still wield significant influence and control in most of the companies of which he is the Chairman. UBA is not an exception and it is likely there may have been a fall out between Mr. Ikpobe and Tony over performance or portfolio management.

UBA’s website currently has Mr Kenedy Uzoka as the only Deputy Managing Director of UBA.

Correction

Mr Kenedy Uzoka was the second DMD at UBA and was not replacement for Mr Ikobe as erroneously reported.

 

Tags: UBA
Nairametrics

Nairametrics

Nairametrics is Nigeria's top business news and financial analysis website. We focus on providing resources that help small businesses and retail investors make better investing decisions. Nairametrics is updated daily by a team of professionals. Post updated as "Nairametrics" are published by our Editorial Board.

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Comments 1

  1. Osogagba says:
    June 18, 2015 at 10:34 am

    Actually no replacement has been made. UBA had two DMD’s before this incident.

    Reply

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