Living Trust Mortgage Bank appoints chairman nominated by Osun govt

📆 4/21/2024 7:07 AM
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The announcement lays to rest the conflict between the top two shareholders of the company as to who nominates the candidate for the chairmanship of the directors’ board.

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“Dr. Wale Bolorunduro was appointed as a Non-Executive Director of the Bank effective April 19, 2024,” Living Trust Mortage said in a regulatory filing posted on the website of the Nigerian Exchange on Friday.The appointment is subject to regulatory approval. That has caused a controversy as to whether a political figure like a governor has the authority to appoint the chairman of a public-quoted company like Living Trust Mortage Bank, where institutional investors and individual shareholders have stakes.

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