Page 120 - ACCESS BANK ANNUAL REPORTS_eBook

corporate disclosure. The implementation of our robust Access to Information and Resources
investors and regulatory engagement strategies enables
us to understand stakeholders’ views about the Bank and Management recognises the importance of the free flow
respond effectively. of complete, adequate and timely information to the Di-
rectors to enable them make informed decisions in the dis-
Shareholders meetings are convened and held in an open charge of their responsibilities. There is ongoing engage-
manner in line with the Bank’s Articles of Association and ment between Executive Management and the Board. The
existing statutory and regulatory regimes, for the purpose Heads of Strategic Business Units attend Board meetings
of deliberating on issues affecting the Bank. The Annu- to make presentations. The Bank’s External Auditors attend
al General Meeting is a medium for promoting interaction the Group Board Audit Committee and the Statutory Audit
between the Board, management and shareholders. Atten- Committee meetings to make presentations on the audit
dance at the Annual General Meeting is open to sharehold- of the Group’s Financial Statements.
ers or their proxies, while proceedings at such meetings are
usually monitored by members of the press, representa- Directors have unrestricted access to Management and
tives of the Nigerian Stock Exchange, the Central Bank of company information in addition to the necessary resourc-
Nigeria and the Securities and Exchange Commission. The es to carry out their responsibilities. This includes access to
Board ensures that shareholders are provided with ade- external professional advice at the Bank’s expense as pro-
quate notice of meetings. An Extraordinary General Meet- vided by the Board and Committees’ charters.
ing may also be convened at the request of the Board or
shareholders holding not less than 10% of the Bank’s Paid-
Up Capital. Board Responsibilities

The Bank has a comprehensive Investors Communication The primary responsibility of the Board is to provide effec-
and Disclosure Policy. As provided by the policy, the Board tive leadership and direction to enhance the long-term val-
and Management ensure that the Bank’s communication ue of the Group to its shareholders and other stakeholders.
with the investing public about the Bank and its subsidiaries It has the overall responsibility for reviewing the strategic
is timely, factual, broadly disseminated and accurate and in plan and performance objectives, financial plans and an-
accordance with all applicable legal and regulatory require- nual budget, key operational initiatives, major funding and
ments. The Bank’s reports and communications to share- investment proposals, financial performance and corporate
holders and other stakeholders are in plain, readable and governance practices. The Board is the Group’s highest de-
understandable formats. The Bank’s website www.access- cision-making body responsible for governance. It operates
bankplc.com is regularly updated with both financial and on the understanding that sound governance practices are
non-financial information. A copy of the Investors Com- fundamental to earning the trust of stakeholders, which is
munication and Disclosure Policy is available at the Investor critical to sustainable growth.
Portal on the Bank’s website.
The Bank has a dedicated Investors Relations Unit that fa-
cilitates communication with shareholders and analysts on Tenure of Board Members
a regular basis. Investors and stakeholders are frequently
provided with information about the Bank through various The Bank’s Non-Executive Directors are appointed for an
channels, including Quarterly Investors Conference Calls, initial term of four years. Subject to the provisions of the
the General Meeting, the Bank’s website, the Annual Re- Articles of Association on the retirement of Non-Executive
port and Accounts, Non-Deal Road Shows and the Inves- Directors by rotation, they can be re-elected for a maxi-
tors Forum at the Stock Exchange. The Bank on December mum of two subsequent terms of four years each, subject
4, 2017 held an engagement session at the Nigerian Stock to satisfactory performance and shareholders’ approval.
Exchange during which the Board briefed the investing The Independent Non-Executive Directors are subject to a
public on the Bank’s 2018-2022 strategic plan and also re- maximum tenure of eight years as stipulated by the Central
ceived comments from investors. Bank of Nigeria’s Guidelines for the Appointment of Inde-
pendent Directors.
The Board ensures that shareholders’ statutory and gen- Our Executive Directors are appointed for an initial term
eral rights are protected at all times, particularly their right of four years and their tenure can be renewed for further
to vote at general meetings. The Board also ensures that terms subject to a satisfactory annual performance evalua-
all shareholders are treated equally regardless of the size of tion. Executive Directors are prohibited from holding other
their shareholding and social conditions. Our shareholders directorships outside the Access Bank Group or investee
are encouraged to share in the responsibility of sustaining companies.
the Bank’s corporate values by exercising their rights as
protected by law.

120 Access BAnk Plc
Annual Report & Accounts 2017