Pan-African lender Ecobank has sued a top executive
who left the company this month, naming him in a civil complaint in Togo as the
author of an anonymous email accusing Chief Executive Thierry Tanoh of
mismanagement.
The executive, David Lawson, denied to Ecobank
that he wrote the email and said he had been unfairly dismissed. He accused
Ecobank executives including Tanoh of hacking his phone and email account in a
fruitless search for evidence against him. The company denies wrongdoing.
The row comes as Ecobank tries to shore up
confidence in its governance after a Nigerian industry watchdog began
investigating the way it reported financial results. The bank’s chairman quit
last month, saying it wasn’t appropriate for him to stay given the company’s
ongoing reviews of governance.
Ecobank has been viewed by investors as an
African success story for its strong growth and expansion beyond its Togo base
into 33 African countries. It made record profits last year.
One member of Ecobank’s board told his
colleagues in an email seen by Reuters that Lawson’s hacking allegations were a
cause for concern and could get the bank into trouble.
Lawson, who left as head of strategy on
November 8, was a member of the Group Executive Committee that runs Ecobank and
reports to its board.
A spokesman for Ecobank Transnational
Incorporated, ETI, as the bank is officially known, declined to discuss the
circumstances of Lawson’s departure.
Lawson told Reuters on Monday: “In the panel’s
attempt to implicate me in this affair …(it) resorted to the illegal acts of
phone tapping, email hacking, stalking and invasion of privacy”.
He said that at a disciplinary hearing about
the email, fellow executives pressed him repeatedly to name board members who
they suspected of being his accomplices in the matter. He called the hearing an
“illegal kangaroo court”.
Lawson said he had emailed Ecobank’s executive
committee and board on November 11, stating that he had a recording of the
disciplinary hearing that showed the committee discussing details about him and
his communications that it could only have obtained by hacking his email and
bugging his phone.
The bank’s suit says Lawson wrote the
anonymous email to senior executives on August 31 accusing Tanoh of paying
himself an inflated bonus for work done in the months before he took office at
the start of this year.
Tanoh, a former vice president of the World
Bank’s International Finance Corporation, said in September he was forgoing any
bonus as part of efforts to restore confidence given the Nigerian
investigation.
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