Page 131 - ACCESS BANK ANNUAL REPORTS_eBook

Management Committees in 1985. He was admitted as an Associate Member of In-
stitute of Chartered Accountants of Nigeria in March 1986
These are standing committees comprising the Bank’s ex- and subsequently qualified as a fellow of the Institute.
ecutive and senior management staff. The committees are
set up to identify, analyse and make recommendations on He joined the Nigerian Ports Authority in 1982 and retired
risks pertaining to the Bank’s day-to-day activities. They as General Manager Audit in 2005. He is presently the Man-
ensure that risk limits set by the Board and the regulatory aging Consultant of Henrose Consulting Limited and Man-
bodies are complied with and provide input to the various aging Director Henrose Global Resources Limited.
Board Committees in addition to ensuring the effective im-
plementation of risk policies. These Committees meet as He was appointed the Chairman of the Committee on July
frequently as risk issues occur and take actions and deci- 27, 2016.
sions within the ambit of their powers.
The Management Committees include: the Management Emmanuel Olutoyin Eleoramo
Credit Committee, the Asset and Liability Committee, the Member, Statutory Audit Committee
Enterprise Risk Management Committee, the Operational Mr. Eleoramo holds a First Class degree in Insurance and
Risk Management Committee, the Criticised Assets Com- a Master’s degree in Business Administration (MBA), both
mittee, the Digital Steering Committee, the Digital Design from the University of Lagos. He is an Associate of the
Council and the InformationTechnology Steering Commit- Chartered Insurance Institute of London and a Fellow of
tee.
the Chartered Insurance Institute of Nigeria. He has over 36
years of varied experience in general insurance marketing,
underwriting and employee benefits consultancy.
Statutory Audit Committee
He is a key player in the Nigerian insurance industry and a
The Companies and Allied Matters Act (‘CAMA’) 1990 in past President of the Chartered Insurance Institute of Ni-
Section 359 (3) requires every public company to constitute geria. He was the Managing Director/Chief Executive Of-
a Statutory Audit Committee made up of equal number of ficer of Nigerian French Insurance Company Ltd and later
Directors and shareholders’ representatives subject to a Whispering Hope Insurance Company Ltd (now Sterling
maximum of six members in the committee. The Bank has Assurance Nigeria Ltd) before his appointment as the Man-
constituted a Statutory Audit Committee made up of three aging Director/Chief Executive Officer of Nigerian Life and
Non-Executive Directors and three shareholders. Pensions Consultants Limited (now Nigerian Life and Prov-
ident Company Limited).
The Committee is constituted to ensure its independence,
which is fundamental to upholding stakeholders’ confi-
dence in the reliability of the Committee’s report and the Idaere Gogo-Ogan
Group’s Financial Statements. There is no Executive Direc- Member, Statutory Audit Committee
tor sitting on the Committee. The Chairman of the Com-
mittee is an ordinary shareholder, while the shareholders’ Mr. Ogan is a 1987 graduate of Economics from the Uni-
representatives are independent and answerable to the versity of Port Harcourt and holds a Master’s Degree in
shareholders. There are two Independent Non-Executive International Finance from Middlesex University, London.
Directors on the Committee and the third director is inde- He joined the Corporate Banking Department of Guaranty
pendent of the management of the Bank. Trust Bank Plc in 1996. He left Guaranty Trust Bank to found
D’ Group, incorporating Becca Petroleum Limited and Val-
The duties of the Committee are as enshrined in Section uestream and Cordero Engineering Ltd.
359(3) and (4) of CAMA. The Committee is responsible for
ensuring that the company’s financial statements comply He sits on the Audit Committee of Coronation Merchant
with applicable financial reporting standards. Bank Limited and is also the Chairman of the Audit Com-
mittee of Marina Securities Limited.
The profiles of the shareholders’ representatives in the
Committee are as follows:

Henry Omatsola Aragho, FCA
Chairman, Statutory Audit Committee
Mr. Aragho obtained his Higher National Diploma (Account-
ing) from Federal Polytechnic Auchi in 1981 and a Master’s
Degree in Business Administration from Ogun State Uni-
versity (1999). He qualified as a Chartered Accountant with
the Institute of Chartered Accountants of Nigeria (ICAN)

Access BAnk Plc 131
Annual Report & Accounts 2017