NOVA Merchant Bank Appoints New CEO, Set to Commence Commercial Operations in Nigeria
NOVA Merchant Bank Limited, a licensed merchant bank in Nigeria with a focus on Wholesale Banking, Investment Banking, amongst others, has appointed a new CEO, signaling the bank’s readiness to begin its conversion to a full commercial banking business.
The bank announced the appointment of Mr Adebowale Oyedeji as the new Managing Director and Chief Executive Officer, a move that follows its disclosure in June 2023, announcing that it had received approval from shareholders to transform into a commercial bank.
NOVA bank’s appointment of Mr. Oyedeji, as the new managing director (MD) and chief executive officer (CEO) is aimed at effectively stirring its operations and delivering on its new mandate.
Announcing Mr. Oyedeji’s appointment, the bank said,
“Oyedeji is coming on board with several years of experience at the C-suite level from a major commercial bank in Nigeria and will be succeeding the erstwhile MD, Mr Nath Ude, whose tenure expired on November 6, 2023. The Board of NOVA has expressed its appreciation to Mr. Ude for his efforts and services to NOVA since his appointment in 2020.
“Oyedeji’s wealth of hands-on experience combined with a strong track record of delivering revenue objectives, business turnaround, improved productivity, people management, operational efficiency, and risk control makes him a perfect fit to captain the ship of NOVA Merchant Bank.”
Oyedeji would lead the new executive team to implement the Bank’s Accelerated Growth Initiatives for the next 5-year plan of the bank commencing January 2024.
Also speaking, the Chairman of the Board of NOVA Merchant Bank, Mr. Phillips Oduoza, said, “This appointment is a reinforcement of the Bank’s belief that with the right people and leadership, using technology and innovation, the Bank will compete favorably for market share in the commercial and retail banking space”.
NOVA Bank’s strategic move to commence commercial operations in Nigeria is in line with the bank’s vision of expanding operations and diversifying services while providing exceptional services to our valued customers.
Also, this move will help the bank extend its financial services throughout Nigeria, as it aims to bolster its client base, increase revenues, and improve returns.
