Nikoloz Gagua has announced his resignation from the Board of the National Bank of Georgia in an exclusive statement to Georgia's First Channel.

Gagua confirmed that he has formally submitted his letter of resignation from his board position at the National Bank.

It should be noted that this announcement follows closely on the heels of the resignations of Papuna Lezhava and Archil Mestvirishvili, both of whom also relinquished their roles as Vice Presidents of the National Bank of Georgia earlier today.

By making this announcement, Gagua becomes the latest in a series of high-profile departures from the National Bank, prompting increased attention to the institution's leadership changes.