LAGOS Jan 9 Nigeria's securities regulator said
on Thursday that Ecobank Transnational had shown a lack
of transparency in its recruitments that fostered conflicts of
interest, and recommended it pick a new chairman who can tackle
its "governance gaps".
The Securities and Exchange Commission (SEC) also told the
pan-African lender to come up with a one-year plan to iron out
its governance issues, adding that it expected a quarterly
report on progress.
It recommended that Ecobank communicate findings of its
inquiry to shareholders at an extraordinary meeting.
(Reporting by Tim Cocks; Editing by Mike Collett-White)