Shareholders meetings are duly convened, and held in line with the Bank’s Articles of Association and existing statutory and regulatory regimes in an open manner for deliberating issues affecting the Bank's strategic direction. Attendance to Annual General Meetings (AGM) is open to shareholders or their proxies. Proceedings at such meetings are usually monitored by members of the press, as well as by representatives of regulatory authorities, such as the Central Bank of Nigeria, the Nigerian Stock Exchange and the Securities and Exchange Commission.
Board, composition and role
The Board is comprised of eleven members, including the Chairman, four non-Executive Directors, three Independent Directors, two executive Directors and the Managing Director. The Board is able to reach impartial decisions, as it is made up of a combination of Independent and Non-Independent Directors with no shadow or alternate Directors. The Board meets quarterly and emergency meetings are convened as required.