Another Adam falls as FCMB appoints new MD

 First City Monument Bank, FCMB, has named Mrs Yemisi Edun as new managing Director following the stepping aside of its embattled MD, Adam Nuru.

Though, no official report has been issued from the management of the bank, her appointment has been reported widely. 

According to a reliable source within the bank who pleaded anonymity, the decision to appoint Yemisi Edun was taken in a bid to fill the void left by the former Managing Director, Adam Nuru, who proceeded on a voluntary leave to ensure sanctity in the bank’s investigation of charges against him.

It is unclear if her appointment means Adamu Nuru will no longer return as MD/CEO of the bank.

The new chief executive of the bank, Mrs 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.

She is a Fellow of the Institute of Chartered Accountants of Nigeria and a 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.

She began her career with Akintola Williams Deloitte (member firm of Deloitte Touché Tohmatsu) in 1987, with main focus in Corporate Finance activities. She was also involved in audit of Banks and Other Financial Institutions. 

She joined FCMB in year 2000 as Divisional Head of Internal Audit and Control before assuming the role of Chief Financial Officer of the Bank and now as Chief Executive Officer (CEO). Before her elevation to the new role, she was the Executive Director in charge of Finance of the Bank.

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The rise and.fall of Adam Nuru:

Mr. Adam Nuru holds a Bachelor’s degree in Business Administration with a specialisation in Finance from the Ahmadu Bello University.

He has over 20 years experience covering Corporate Finance, Consumer Banking, Public Sector, Treasury, Commercial/Retail Banking and Human Resources Management.

Mr. Nuru began his career at the Nigerian Agricultural & Cooperative Bank. He also worked at Oceanic Bank and FSB International Bank (Now Fidelity Bank), where he headed Public Sector, later Retail Banking (Lagos), and eventually Human Resources Management Group. He joined FCMB in 2005 as Head of Enterprise Management overseeing Human Resources, Administration & Logistics and Branch Development.

He joined FinBank Plc in 2009 as Executive Director, North Nigeria and rejoined FCMB as Executive Director Abuja & North Nigeria, following the merger of FCMB and FinBank in 2012. He was appointed Managing Director in March, 2017 to succeed erstwhile MD, Ladi Balogun.


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