Nnamdi Okonkwo appointed GMD of FBN Holdings as U.K. Eke retires

FBN Holdings Plc, the holding company of First Bank of Nigeria, has appointed Nnamdi Okonkwo as its new group managing director (GMD).

Seyi Kosoko, the company secretary, announced his appointment in a statement on Thursday.

Okonkwo is the former managing director/ chief executive officer (CEO) of Fidelity Bank of Nigeria Plc.

His appointment followed the voluntary retirement of U.K. Eke, who has completed his two-term tenure.

Uke, according to the board, tendered his notice of retirement on August 10.

“Uke’s retirement takes effect at the end of the current Financial Year on December 31, 2021. Mr. Eke’s retirement follows from a 35 years career in financial services, strategy, auditing, consulting, taxation, process reengineering, and capital market operations,” the statement reads.

“FBNHoldings Board has also announced that Eke will be succeeded by Mr. Nnamdi Okonkwo, a focused and result-oriented top banker, who will assume office as Group Managing Director, FBN Holdings Plc effective January 1, 2022.”

According to the statement, Okonkwo has a wealth of experience in transformational leadership, business strategy development and visioning, innovative corporate governance and risk management.

He is said to have more than 30 years of banking experience spanning local and international experience.

His appointment is, however, still subject to approval by the Central Bank of Nigeria (CBN).

FBN Holdings further announced the renewal of the appointments of Adesola Adeduntan and Gbenga Shobo as the managing director and deputy managing director of First Bank, respectively, for another term.

The board also approved the appointment of Tope Orhionsefe Omage as a non-executive Director of First Bank of Nigeria Limited by the board of First Bank, subject to the approval of the CBN.

“In same vein, the Board announced the renewal of appointments of Mr. Kayode Akinkugbe and Mr. Taiwo Okeowo as the Managing Director and Deputy Managing Director of FBNQuest Merchant Bank Limited respectively, for another term,” the statement adds.

“The Board also announced the appointment of Meristem Registrars Limited as the new Registrars to take over the Register of Members of FBN Holdings Plc in replacement of First Registrars and Investors Services Limited, with effect from December 1, 2021.”

On Wednesday, FBN Holdings Plc responded to a query by the Nigerian Exchange Limited (NGX) for classifying the shareholdings of Tunde Hassan-Odukale and his related parties into two parts of 4.16% and 1.20% respectively.

There has been a controversy since Femi Otedola acquired 5.07% stake in the bank, making him the single largest shareholder.

In response to the query through regulatory filings, FBN Holdings said Hassan-Odukale is its largest single-holder.