FCMB Appoints Edun As MD, Says Nuru Did Not Breach Rules In Paternity Scandal

The Board of Directors of First City Monument Bank (FCMB) Group Plc has closed the chapter on its former managing director, Adam Nuru with the appointment of a substantive replacement in the person of Yemisi Edun as the Managing Director (MD) of  FCMB Limited.

 GreenWhiteGreen GWG reports that Nuru was forced to step down upon media revelations following the death of the husband of a lady he was reported to have had a relationship with.

The FCMB board, however, in its decision on the matter said that Adam Nuru did not violate its policies.

The new managing director of the bank, Yemisi Edun had prior to her appointment as acting managing director was the Executive Director/Chief Financial Officer of FCMB.

With a work experience spanning nearly 35 years, 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 Certified Financial Analyst (CFA).

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 exit of Adam Nuru out of the bank drew strong emotions in the industry after he was alleged to have fathered children with a former staff of the bank that were allegedly passed on to the husband of his former female staff. The death of the former staff led to a strong-worded petition that put Nuru’s sustenance as Managing Director in question.

The FCMB board has, however, acquitted him saying he did not breach its policies.

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