Yemisi Edun replaces Adam Nuru who involved in paternity scandal

Yemisi Edun, who took over the reins of First City Monument Bank (FCMB) in an acting capacity in January after the immediate past Managing Director Adam Nuru proceeded on a leave, has been appointed the tier 2 lender’s new chief, the FCMB Group said Tuesday.

She becomes the first female CEO of Subomi Balogun-backed FCMB, the appointment having received the blessing of the industry regulator, the Central Bank of Nigeria, the financial services group said in a note to the Nigerian Exchange Limited seen by PREMIUM TIMES.

In January, the bank’s board appointed Ms Edun, who was the bank’s executive director/chief financial officer at the time, to hold the fort for Mr Nuru, to allow for an investigation into a paternity scandal involving the former CEO, Moyo Thomas, a one-time FCMB employee and Tunde Thomas, her late husband.

The high-profile probe, which arose from a petition signed by over 1,400 Nigerians, was sequel to an allegation that Mrs Thomas, who had informed her husband of her decision to leave for the United State with the kids, called Mr Thomas on arrival that none of the two kids, who had known the 45-year-old as their father, was not his.

In a statement, the bank said its board reviewed the allegation and established that the former MD and did not contravene its policies.

FCMB said Ms Edun was appointed simply because Mr Nuru’s service at the bank had come to an end.

“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,” the statement said.

Prior to this appointment, the new Managing Director, Ms Edun, was the executive director/chief financial officer of the bank and previously served as the acting managing director.

With a work experience spanning nearly 35 years, Yemisi 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 Fellow of the Institute of Chartered Accountants of Nigeria and a Certified Financial Analyst, CFA®️ Charter holder. She 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.