• Sunday, March 03, 2024
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Ecobank director, Do Rego, leaves

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Pan-African Ecobank Transnational Inc. (ETI) has announced  the departure of its group executive director for finance and risk, Laurence do Rego, who made an allegation last year that prompted an investigation into governance at the West African lender by Nigeria’s securities regulator.

Do Rego “is no longer an employee of the company,”, the financial giant said in a statement on Wednesday.

Do Rego had in August told the Securities and Exchange Commission (SEC) that the bank’s former Chairman Kolapo Lawson and Chief Executive Officer Thierry Tanoh planned to sell assets below market value, prompting an investigation by the regulator to the fraud.

She also alleged she had been pressured to write off debts owed by a business headed by Lawson and manipulate the bank’s results last year. Both Tanoh and Lawson deny any wrongdoing.

Do Rego, an accountant by training, joined the Togo-based bank in 2002 and was appointed to her position in January 2010 after serving as chief financial officer from 2005 to 2009.

She also worked for 15 years in Europe.