JUST IN: Bank Executives, Directors Exceeding 10-12 Years In Position To Resign As CBN Sets Tenure

The Central Bank of Nigeria has reviewed the tenure of Executive Management and Non- Executive directors of Nigerian banks, a move it believes will strengthen their corporate governance structure.

The apex bank said in the revised edition for banks corporate governance released on Friday that the cumulative tenure limit for Executive Directors, Deputy Managing Directors, Managing Directors, and Non-Executive Directors across the banking industry shall not exceed 20 years.

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