Mrs. Yemisi Edun has been confirmed as the substantive Managing Director/Chief Executive Officer of First City Monument Bank (FCMB), becoming the first female boss at the new generation bank.
With the appointment, the bank’s Board of Directors has finally eased out its former MD, Mr Adam Nuru, who was suspended in January over corporate governance issues bordering on allegations that he was involved in an extra-marital affair with a former subordinate at the bank.
The bank, however, thanked Nuru for his years of dedicated service at the bank and wished him all the best in his future endeavours.
It would be recalled on Wednesday, January 6, 2021, FCMB had issued a press release stating that Mrs. Edun would be acting as the Managing Director of the bank in the interim period while Nuru was sent on a compulsory leave, stating that it was in line with normal corporate practices.
Edun who was the former Executive Director and Chief Financial Officer of the bank, began her career with Akintola Williams Deloitte (member firm of Deloitte Touché Tohmatsu) in 1987, with main focus in Corporate Finance activities.
Yemisi joined FCMB in 2000 as Divisional Head of Internal Audit and Control before assuming the role of Chief Financial Officer of the Bank.
She 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 Charter holder.
Yemisi 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.
Recall Nuru was accused of being responsible for the death of Tunde Thomas, who was married to a former employee of FCMB, Ms. Moyo Thomas.
Following the major paternity saga that dominated public discourse in the country, friends of the deceased initiated a petition against Nuru alleging that Thomas died of depression after discovering that his supposed two children with Moyo belong to the former MD.
The petitioners alleged that Moyo had informed her husband that she was leaving Nigeria for the United States with the kids only to call him upon arrival that the children do not belong to him.
According to them, Thomas suffered a stroke on hearing the news. He recovered and met another woman. Thomas, they said, suffered cardiac arrest two days before he could meet the parents of his already pregnant girlfriend for marriage.
“This is a case of gross misconduct based on ethical grounds and an unjustifiable economic oppression by the elite (Adam Nuru) against the underprivileged in the society,” the petitioners wrote the Central Bank of Nigeria, adding that the FCMB boss has been trying to “sweep this case under the carpet.”
Over 1000 persons signed the petition at the time, forcing FCMB to investigate the allegations against its now dislodged Chief Executive.