The board of FCMB Group, on Wednesday, announced the appointment of Mrs. Yemisi Edun, a Chartered Accountant, and graduate of Chemistry from the University of Ife, (now Obafemi Awolowo University), acting Managing Director, to allow for a review of the allegations against Adam Nuru, its chief executive.

The management in a statement seen by Investdata News, insisted that “she has not been appointed substantive Managing Director,” promising to provide an update as and when the board completes its review of the allegations.

In a notice to the Nigerian Stock Exchange (NSE), also on Wednesday, the board it is “aware of several stories circulating across media platforms about our bank’s Managing Director, Adam Nuru, a former employee, Mrs. Moyo Thomas and her deceased husband, Mr. Tunde Thomas.”

According to its filing on the NSE, the group said “while this is a personal matter, the tragedy of the death of Mr. Thomas and the allegations of unethical conduct require the bank’s board to conduct a review of what transpired, any violations of our code of ethics and the adequacy of this code of ethics. This is already under way.”

While the review persists, the group said in the filing by Olufunmilayo Adedibu (Mrs.), the company secretary, Nuru “has volunteered to proceed on leave,” a situation it said, will guarantee the sanctity of the review process.”

The statement enjoined all stakeholders to bear with the group, during the review period and respect the various families involved.

Mrs. Edun, a Master’s degree holder in International Accounting and Finance from the University of Liverpool, United Kingdom, according to information on the bank’s website, is a Fellow of the Institute of Chartered Accountants of Nigeria and a CFA® Charter holder, is the Executive Director, Finance.

An Associate Member of the Chartered Institute of Stockbrokers; she is also 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.

The acting MD, began her career with Akintola Williams Deloitte (member firm of Deloitte Touché Tohmatsu) in 1987, with main focus on Corporate Finance activities, and was also involved in audit of banks and Other Financial Institutions. She joined FCMB in the year 2000 as Divisional Head of Internal Audit and Control before being appointed Chief Financial Officer of the bank.