LAGOS — Chairman of Ecobank Transnational Incorporated, Mr. Kolapo Lawson, has debunked allegations of wrong doings concerning alleged insider loan facilities obtained by Agbara Estates, a family-owned firm, which he chairs, saying that the N1.3 billion loan had been repaid since July 26, days before it was due.

He also disclosed that the regulatory authority, CBN and Asset Management Company had cleared him of all liabilities concerning debts owed the defunct Intercontinental Bank.

The allegations stemmed from leaked memos, which had suggested that there was a boardroom crisis in the bank concerning the said loans, which the bank itself has dismissed and reaffirmed its confidence in Lawson’s leadership.

Speaking with journalists in Lagos, the ETI chairman also dismissed allegations contained in a petition sent by the bank’s suspended Head of Finance, Ms Laurence Do Rego to the Securities and Exchange Commission, which are being investigated.

Do Rego, who has been axed for failing to present certificates of professional accounting qualifications, which she claimed to have lost 10 years ago, had alleged that she had been facing harassment since the new Chief Executive Officer, Mr. Theirry Tanoh came on board last year and that the chairman unilaterally increased Tanoh’s bonuses. She had also claimed that the chairman and MD had tried to sell bank assets below the market value.

Lawson, however, dismissed the allegations as trash. He said Do Rego’s problems began when she was unable to perfume routine duties assigned to her by the CEO which raised doubts about her qualifications, hence a demand was made for all senior managers to produce their certificates.

According to him, Do Rego has failed to make specific reference to the harassment she had faced while the board had, on the record, resolved not to dispose of the assets in question – a high value building and shares in Airtel Nigeria – in order to preserve value.

On the CEO’s remuneration, the Ecobank chairman, said that the decision to negotiate bonuses was his prerogative as chairman but the special committee of which Do Rego and the head of the bank’s legal department are members, had knowledge of the agreement. He said the CEO’s bonuses were raised in the spirit of fairness based on the new circumstances in the bank including its expansion after the acquisition of Oceanic Bank

Lawson pointed out that he had been associated with the bank for more than 31 years having written the business proposal in 1982. He said he joined the pioneer board in Togo in 1987 and was appointed to Ecobank Nigeria’s board in 1989.

He said that on the death of his father, late real estate mogul, Chief Adeyemi Lawson in 1993, he was invited to chair the board and has since then led the bank through various stages of growth and expansion.