FBN Holdings Plc has announced the appointment of Adebowale Oyedeji as its new Group Managing Director (GMD), effective November 13, 2024.
This is subject to Central Bank of Nigeria approval and shareholder ratification at the upcoming Annual General Meeting.
A disclosure on the Nigerian Exchange revealed that the new appointee will replace Nnamdi Okonkwo, who will retire after completing his term.
The departing GMD, Okonkwo, has been crucial in helping FBN Holdings navigate these boardroom changes, regaining investor trust and guiding the company back to profitability.
Oyedeji offers a wealth of leadership experience to the position, having worked in corporate, treasury, and commercial banking for more than 30 years.
He most recently served as the managing director and chief executive officer of Nova Commercial Bank, where he was instrumental in the bank’s reorganisation and entry into the retail banking market.
Speaking on his appointment, the Group Chairman of FBN Holdings, Femi Otedola, CON, said,
This leadership transition is expected to enhance FBN Holdings’ long-term strategy and continue its legacy as one of Nigeria’s premier financial institutions.
TimesNow.com.ng reported that FBN Holdings Plc has given an explanation of the rationale behind the sale of its merchant banking subsidiary to EverQuest Acquisition LLP.
The Holding company disclosed the names of its other companies and ventures that were left out of the deal.
The Holdings’ acting company secretary, Adewale Arogundade, provided the explanation in a notice delivered to Lagos’ Nigerian Exchange Ltd. (NGX).
Source: TimesNow.com.ng
