ECOBANK: ordered to pay 17 billion FCFA to Thierry Tanoh

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000_Par7392078Appointed managing director of Ecobank in 2013, the Ivorian, Thierry Tanoh (photo), was dismissed in March 2014 before the end of contract.

The man is at present the Assistant secretary general of the Ivorian presidency.

Ten months after leaving the management of the Pan-African bank, Mr. Tanoh is to become a billionaire. This fortune would not necessary come from his salary at the Ivorian presidency but from the damages undergone in the case against Ecobank.

In fact, last Thursday, 15th January 2015, the commercial court of Abidjan ordered the banking group, Ecobank, to pay 17 billion FCFA to Thierry Tanoh. The news was revealed by the Jeune Afrique magazine.

According to the Pan-African magazine, the court blames the former employers of Mr. Tanoh for « unfair dismissal » (without advance notice) and of « defamation ».

For his part, Richard Uku, the communications director of the banking group, finds that « the amount is excessive and irrational ».

The spokesman indicated that the group plans to appeal and protests against the choice of Abidjan as place of the judgement, the contract of Mr. Tanoh with Ecobank stipulating according to him « an appeal to the British courts or arbitration at the CCI of Paris ».

Original text by: Blaise AKAME