The board of directors of Fortis Microfinance Bank Plc has announced the resignation of Mr Kunle Oketikun as the Managing Director of the bank with effect from November 30, 2015.

According to a statement from the bank, Mr Oketikun still remains a director and shareholder of the bank.

Meanwhile, the board of directors have appointed the Executive Director, Business Development, Mr Ugochukwu M Ezeh to succeed Mr Oketikun in an acting capacity pending the appointment of a substantive Managing Director.