Yemisi Edun has been confirmed as the substantive managing director and chief executive officer of First City Monument Bank (FCMB) following Adam Nuru’s paternity scandal.
Edun was appointed in acting capacity in January after the bank’s chief executive at the time Mr Nuru proceeded on a leave.
The bank said in a statement on Tuesday that its board reviewed the allegation and established that Nuru and did not contravene its policies.
FCMB said Edun was appointed simply because 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.
Before her appointment to the position of MD/CEO which was confirmed by the Central Bank of Nigeria, Edun held the position of executive director.
Nuru was accused of having two children with a former FCMB employee Moyo Thomas who was married to Tunde Thomas. The alleged relationship, his accusers said, led to the death of Mr Thomas.
Meanwhile, Edun joined FCMB in 2000 as divisional head of Internal Audit and Control before assuming the role of chief financial officer of the lender.
She 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.
Edun is also a fellow of the Institute of Chartered Accountants of Nigeria and a CFA Charter holder; an associate member of the Chartered Institute of Stockbrokers (CIS); an associate member of the Institute of Taxation of Nigeria; a member of Information Systems Audit and Control, United States; and a certified information systems auditor.
She began her career with Akintola Williams Deloitte (member firm of Deloitte Touché Tohmatsu) in 1987, with a focus on corporate finance activities. Edun was also involved in audit of banks and other financial institutions.