NOVA Merchant Bank Limited, a leading merchant bank in Nigeria, has announced that it is set to begin its conversion to full commercial banking business following its recent requisition of the national commercial banking license from the relevant authorities.
The bank has also appointed Mr. Adebowale Oyedeji, as the new Managing Director and Chief Executive Officer to effectively stir its operations and deliver on its new mandate.
His appointment which takes effect from January 2, 2024, has been approved by the Central Bank of Nigeria (CBN).
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 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.
He has held several executive positions in foreign and Nigerian environments giving him the global perspective to leading a financial institution to success.
He was previously the MD/CEO. Of Guaranty Trust Bank UK (a subsidiary of Guaranty Trust Bank Group) between 2008 and 2011 and was an Executive Director of Guaranty Trust Bank Group from 2011 to 2018 with supervision of various industry focused corporate and commercial banking teams that transformed the Group.
