Ecobank (LAG:ETI) chief executive Thierry Tanoh's contract must be terminated immediately, the bank's top shareholder Public Investment Corporation (PIC) said in a letter to the bank's interim chairman seen by Reuters on Saturday. Interim chairman Andre Siaka told Reuters he had received the letter, which was signed by Daniel Matjila, the chief investment officer of the South African PIC, and would respond. Matjila is one of 12 directors on Ecobank's board. The PIC has a 18.35 percent stake in Ecobank, according to Thomson Reuters data.
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