On 19th July, The Board of Directors of the National Bank of Commerce
(NBC) Limited announced that Mr. Lawrence Mafuru, the Managing
Director of National Bank of Commerce has been requested and accepted
to go on leave in order to allow investigations into some
irregularities allegedly perpetrated at the Bank.
Chairman of the NBC Board of Directors Dr. Mussa J Assad said, “The
Board of Directors of NBC has received allegations of some
irregularities against NBC Executive Management. NBC is a reputable
and trusted bank, for best practice and good governance a proper
investigation has been initiated on this matter. The Board of
Directors has therefore decided to put Mr. Lawrence Mafuru, the NBC
Managing Director, on leave during the investigation period. This is
expected to be completed shortly.”
He further added, “Please note, there is no presumption of guilt on Mr
Mafuru or any other executive. Let me to assure you, that we have a
very professional leadership team which operates and executes their
duties with the highest level of integrity, with the sole purpose of
serving our customers, both internal and external and meeting business
objectives.”
Lawrence Mafuru said: “I am very supportive of the investigation into
the allegations that have been raised against me by a whistle blower.
My conscience is very clear and I hope that after this investigation
our customers, shareholders, staff and the public at large will prove
that the bank is managed and run in accordance with the best corporate
governance standards”.
Editors Note;
NBC is one of the most represented retail bank in the country with 45
years experience in providing financial services. Apart from offering
traditional banking services, NBC also prides itself with an expanded
branch network and footprint. NBC has 53 branches, 287 Visa enabled
ATMs, and over 233 Points of Sales strategically located throughout
the country. NBC has employed over 1400 staff