BUSINESS

Infidelity Crisis: FCMB Names Yemisi Edun As Acting MD As Embattled Adam Nuru Goes On Leave

Published

5 years ago

January 6, 2021

BIGPEN

The management of First City Monument Bank, has named Yemisi Edun, its Executive Director, Finance as interim Managing Director of the bank.

BIGPEN reports that the development follows the controversy surrounding the embattled MD of the bank, Adam Nuru, who is allegedly being accused of infidelity with a former worker with the bank, Moyo Thomas.

Nuru has since ‘voluntarily’ proceeded on leave to allow the bank’s Board conduct its review of the circumstances surrounding the allegations.

Recall that Nuru had been enmeshed in alleged infidelity scandal on the heels of the death of Moyo’s estranged husband, Tunde Thomas, who reportedly died of depression about two weeks ago after Moyo reportedly told him some months ago that their two kids were fathered by Nuru.

The bank, had following the development set up a panel to investigate the allegations against Nuru “if there was any violation of the bank’s code of ethics and the adequacy of this code of ethics, action would be taken”.

It was learnt that during the period of the review, the Managing Director volunteered to proceed on leave to guarantee the sanctity of the review process.

However, in a terse message on Wednesday, FCMB said “In line with normal corporate practice, Mrs Yemisi Edun is Acting as the Managing Director of FCMB in the interim period while Mr Adam Nuru is on leave.

“She has not been appointed as the substantive Managing Director”, the bank said.

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 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.

She began her career with Akintola Williams Deloitte (member firm of Deloitte Touché Tohmatsu) in 1987, with main focus in Corporate Finance activities. She was also involved in audit of Banks and Other Financial Institutions. She joined FCMB in year 2000 as Divisional Head of Internal Audit and Control before assuming the role of Chief Financial Officer of the Bank.