FCMB appoints Yemisi Edun as CEO of banking subsidiary

By Kayode Tokede

The board of directors of FCMB Group Plc has announced the appointment of Yemisi Edun as the Managing Director and Chief Executive Officer of its largest subsidiary, First City Monument Bank (FCMB) Limited effective May 1, 2021 following approval of the Central Bank of Nigeria (CBN).

A notice at the Nigerian Exchange Limited on Tuesday said prior to the appointment, the new MD was the Executive Director/Chief Financial Officer of the bank and previously served as the acting Managing Director.

The appointment followed the end of service of the bank’s former managing director Mr Adam Nuru who attracted media attention in late 2020 over alleged romantic affairs with a staff of the bank.

The bank said the board had reviewed the allegations against the former MD and did not establish any contravention of its policies.

The new CEO with a work experience spanning nearly 35 years, she holds a bachelor’s degree in chemistry from University of Ife, Ile Ife and a Master’s degree in International Accounting and Finance from the University of Liverpool, UK.

She is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and a Certified Financial Analyst, 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, USA; and a Certified Information System Auditor.

“The board is confident that her appointment as MD/CEO of the bank will no doubt be of great value to the entire FCMB Group,” the notice said.

The board of Directors of FCMB also thanked the former MD for his years of dedicated service and wished him all the best in his future endeavours.