Ecobank Nigeria looking for new managing director

Ecobank Nigeria Limited Managing Director Jibril Aku will step down at the end of 2015 after a five-year tenure, in accordance with bank policy on term limits, and assume another senior management position at the bank in early 2016.

Ecobank Nigeria Limited is the largest subsidiary of Ecobank Transnational Inc. (ETI).

Aku worked for Citibank (Nigeria International Bank) for the majority of his career, arriving at Ecobank Nigeria in 2006 as executive director of the bank’s Treasury & Financial Institutions unit and becoming managing director of Ecobank Nigeria in 2010.

"Jibril has been instrumental in leading the Ecobank franchise to its position in the Nigeria banking industry today," Ade Ayeyemi, Ecobank's CEO, said. "With the Oceanic Bank acquisition, Jibril positioned the bank from No. 13 to its current position of No. 6.”

Aku credited the team he worked with for many of his achievements.

"Our board stood with us, and was steadfast in its support," Aku said. "I must, therefore, extend my sincere appreciation to the board and the team.

"Despite some of the market challenges that we faced over the years, our customers have always been loyal, and it is their patronage that led to the achievements we see today,” Aku said.

The search for Aku's successor is underway, and he or she will be named before the end of 2015.