Yemisi Edun Takes over Leadership of First City Monument Bank as Adam Nuru’s Tenure Ends

FCMB Group Plc announced earlier today that Mrs Yemisi Edun has taken over full Managing Director role at its subsidiary –First City Monument Bank Limited. The appointment, which took effect in May 2021, is still subject to the approval of the Central Bank of Nigeria.

Before now, Mrs Edun had been serving as an Acting Managing Director following a paternity scandal, last last year, which forced former Managing Director, Adam Nuru, into a compulsory leave.

In January 2021, the company said it would investigate damning allegations that were levelled against  Adam Nuru by friends of one Tunde Thomas, a man who died after discovering that Nuru had allegedly fathered his children following years-long affair with his wife. Ever since these allegation became public knowledge, everyone has been waiting anxiously for the outcome of the company’s instituted investigation.

“The Board had earlier reviewed media allegations made in late 2020 against the former MD and did not establish any contravention of its policies. The Board of FCMB thanks Mr Nuru for his years of dedicated service and wishes him all the best in his future endeavours,” FCMB said in a statement. It is still unclear if his service ended amicably or as a result of a fallout of the paternity scandal.

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Now, back to Yemisi Edun. Prior to the time she was appointed Acting Managing Director of First City Monument Bank, she served as an Executive Director and Chief Financial Officer of the bank. In total, she has more than 30 years cognate experience. The Board of FCMB Group Plc expressed confidence and optimism that she will bring her valuable expertise and experience onboard.

Yemisi Edun is a graduate of Chemistry from Obafemi Awolowo University (formerly University of Ife). She also graduated from the University of Liverpool with a master’s degree in International Accounting and Finance. Mrs Edun is a certified financial analyst, a chartered accountant, and a member of the Chartered Institute of Stockbrokers.