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Reasons FCMB Replaces Embattled Adam Nuru With Yemisi Edun

Yemisi FCMB New MD

The Board of Directors of FCMB Group Plc has announced the appointment of Yemisi Edun as the Managing Director of First City Monument Bank (FCMB) Limited.

This announcement is subsequent to the end of service of the bank’s embattled former Managing Director, Adam Nuru.

The Board had earlier reviewed allegations made in late 2020 against the former MD and said it did not establish any contravention of its policies.

A statement from the bank stated that “The Board of Directors of FCMB thanks Mr Nuru for his years of dedicated service and wishes him all the best in his future endeavours”.

Mr Nuru had been embroiled in an infidelity and paternity scandal after the death of Tunde Thomas, the husband of Moyo, a female staff of the bank, with allegations of unethical conduct.

Prior to this appointment, the new Managing Director, Mrs Edun was the Executive Director/ Chief Financial Officer of the bank and previously served as the acting Managing Director.