FCMB appoints Yemisi Edun as acting managing director

First City Monument Bank (FCMB) has appointed Yemisi Edun as its new managing director in acting capacity, amid allegations of marital infidelity between Adam Nuru, the managing director, and Moyo Thomas, a former employee of the bank.

In a tweet on Wednesday, FCMB said Edun will act as the managing director, while Nuru is on leave.

In a notice sent to the Nigerian Stock Exchange (NSE) on Wednesday, the Bank said it will conduct a review of what has transpired, adding that Nuru volunteered to proceed on leave which “guarantees the sanctity of the review process.”

“In line with normal corporate practice, Yemisi Edun is acting as the managing director of FCMB in the interim period while Adam Nuru is on leave. She has not been appointed as the substantive managing director,” the tweet read.

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 chartered financial analyst; a fellow of the Institute of Chartered Accountants of Nigeria (ICAN); an associate member of the Chartered Institute of Stockbrokers (CIS), Institute of Taxation of Nigeria (CITN); a member of Information Systems Audit and Control (ISCA) USA; and a certified information systems auditor.

She began her career with Akintola Williams Deloitte (member firm of Deloitte Touché Tohmatsu) in 1987, with main focus in corporate finance activities.

Edun was also involved in audit of banks and other financial institutions. She joined FCMB in 2000 as the divisional head of internal audit and control before assuming the role of chief financial officer of the bank.