Access Bank Botswana has announced the resignation of non-executive director Oluseyi Kolawole Kumapayi, with the departure taking effect on 7 July 2026.
The bank said Kumapayi stepped down to enable parent company Access Bank PLC to comply with the Central Bank of Nigeria's corporate governance guidelines, which restrict interlocking or concurrent directorships within a financial holding company or group structure to a maximum of two institutions.
The governance rule is designed to limit the number of boards on which directors from the same banking group may simultaneously serve, strengthening oversight and reducing potential conflicts of interest across group entities.
Kumapayi served on the Access Bank Botswana board for five years. During his tenure, he was a member of both the Board Governance, Nomination and Remuneration Committee and the Board Digital and Information Technology Committee, contributing to the bank's governance framework and technology oversight.
In announcing the resignation, the bank expressed its appreciation for Kumapayi's service, thanking him for his commitment over the past five years and wishing him well in his future endeavours.
The announcement did not indicate whether a replacement director has been appointed or provide details on the timeline for filling the vacancy.
In 2024, Access Bank Plc, the parent company of Access Bank Botswana, reduced its stake in its Botswana subsidiary to comply with the listing requirements of the Botswana Stock Exchange (BSE). From 2019, the BSE has required listed companies to have a minimum of 30% of their shares available to the public for trading.
This year, the bank has also been delaying the release of its audited financial statements due to an "outstanding audit matter". The results are now expected to be released by July 13th.