FCMB appoints Yemisi Edun to replace Adam Nuru as MD

The board of directors at FCMB Group Plc have announced the appointment of Yemisi Edun as the managing director and chief executive officer of its largest subsidiary, First City Monument Bank Limited.

The announcement was made in a statement issued by Olufunmilayo Adedibu, the company’s secretary, on Monday.

Adedibu said the new appointment is effective May 1, 2021, following the approval of the Central Bank of Nigeria (CBN).

Prior to her new appointment, Edun served as executive director/ chief financial officer of the bank and previously served as the acting managing director.

“With a work experience spanning nearly 35 years, Yemisi Edun holds a Bachelor’s degree in Chemistry from the University of Ife, Ile-Ife and a Master’s degree in International Accounting and Finance from the University of Liverpool, United Kingdom,” the statement reads.

“She is a Fellow of the Institute of Chartered Accountants of Nigeria and a Certified Financial Analyst, CFA® Charter holder. She is also an Associate Member of the Chartered Institute of Stockbrokers; an Associate Member of the Institute of Taxation of Nigeria; a Member of Information Systems Audit and Control, U.S.A, and a Certified Information Systems Auditor.

“The Board is confident that her appointment as Managing Director/ Chief Executive Officer of the Bank will no doubt be of great value to the entire FCMB Group.”

Edun will replace Adam Nuru, who recently ended his service as the bank’s managing director.

Nuru made headlines in late 2020 following the death of Tunde Thomas, husband to Moyo, a former employee of the bank.

An online petition had claimed that Thomas died of depression after discovering that his two children with Moyo belonged to Nuru.

The bank, however, commended Nuru for his service, adding that allegations levelled against him did not contravene the bank’s policies.

“The Board had earlier reviewed media allegations made in late 2020 against the former MD and did not establish any contravention of its policies,” the statement added.

“The Board of Directors of FCMB thanks Mr. Nuru for his years of dedicated service and wishes him all the best in his future endeavours.”