FBN Holdings names Oyedeji GMD as Okonkwo retires

The board of FBN Holdings Plc, on Friday announced the appointment of Adebowale Oyedeji as Group Managing Director with effect from November 13, 2024, subject to the approval of the Central Bank of Nigeria (CBN).

He will be replacing Nnamdi Okonkwo, who retires after completing his term, according to a statement by Adewale Arogundade, the group’s Acting Company Secretary, pasted on the Nigerian Exchange Limited platform.

Oyedeji, who has been on the executive management, and /or board of three banking groups in the country over the past decade, is expected to lead the executive management teams at the holding company and its various subsidiaries in the implementation of a five-year strategic plan.

A fellow of the Institute of Chartered Accountants of Nigeria (ICAN), who holds a Bachelor of Science degree in Agricultural Economics from the University of Ibadan and Masters of Science in Financial Economics from the University of London, the new GMD started his working life training as an Accountant with the firm of Ernst & Young.

Oyedeji was the former Managing Director of Guaranty Trust Bank UK between 2008 and 2011, after which he was appointed to the board of Guaranty Trust Bank Plc in October that year as Executive Director in charge of Corporate Banking Group.

He assumes his new role with over 30 years of banking experience across Corporate banking, Treasury, Commercial Banking and General Management, besides serving as an Independent Non-Executive Director at Stanbic IBTC Bank from 2020 to 2023.

Prior to his latest appointment as GMD of FBN Holdings, Oyedeji was appointed Managing Director/Chief Executive Officer of Nova Commercial Bank from January 2, 2024, to stir its operations and deliver on its new mandate of transforming from a leading merchant to major player in the commercial banking space.

The statement quoted Femi Otedola, chairman of FBN Holdings as expressing the pleasure at welcoming Oyedeji “to the HoldCo and looking forward to him building on the solid foundation of 130-year-old franchise and sustaining its undisputed leadership position.”