Access Bank Plc has announced the retirement of its chairman, Mosun Belo-Olusoga, effective January 8, 2020.

In a statement released on Tuesday, the bank said: “Mrs. Belo-Olusoga has confirmed that she has no disagreement with the board.”

It added that there are no issues relating to her retirement that need to be brought to the attention of the shareholders or regulatory authorities.

Belo-Olusoga’s resignation, according to the bank, follows her completion of the maximum 12-year term limit allowed by the Central Bank of Nigeria (CBN) for banks and discount houses.

The 1979 University of Ibadan graduate became the chairman of Access Bank Board of Directors in July 2015, succeeding Gbenga Oyebode.

Dr. Ajoritsedere Awosika, who joined the board in April 2013 as an independent non-executive director, will succeed Belo-Olusoga.

She is a fellow of the Pharmaceutical Society of Nigeria and the West African Postgraduate College of Pharmacy.

Awosika holds a doctorate degree in pharmaceutical technology from the University of Bradford, United Kingdom.