Tanoh, who left Ecobank a year ago, won defamation cases against the lender in Ivory Coast and Togo for wrongful dismissal. The bank, ordered to pay Tanoh about 13.2 billion CFA francs ($22.5 million), is appealing the judgments. Ecobank has been in dispute with Tanoh since 2013 after regulators investigated allegations of management fraud and poor governance. Tanoh has denied any wrongdoing.
Even with the judgment in Togo going against Ecobank, moving its headquarters from the West African nation’s capital, Lome, “is not on the cards,” Essien said.
Essien, who agreed to head the bank for a limited period after Tanoh was ousted last March, said his successor may be announced by June.
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