The board of NOVA Merchant Bank Limited on Monday appointed Nath Ude and Mrs Funke Okoya as Acting Managing Director/Chief Executive and Executive Director, Business Development respectively from October 3, 2020.

Both appointments are subject to approval by the Central Bank of Nigeria (CBN).

A statement by the bank said Ude who has held several senior banking positions internationally and in Nigeria including Executive Director First City Monument Bank (FCMB), was until recently Executive Director at Union Bank.

A graduate of Finance, Ude who holds Masters in Business Administration, and numerous professional qualifications, attended various leadership programmes at globally renowned institutions, began his banking career over 28 years ago with Citibank.

Mrs. Okoya replaces Ayodeji Adigun who retired as Executive Director/Chief Operating Officer upon the attainment of the mandatory retirement age of 60 years.

She was until this appointment head of the bank’s Head of Corporate Bank.

Okoya commenced her banking career over 22 years ago when she joined Ecobank Nigeria, and has garnered cognate experience across customer services, banking operations, liability management, commercial banking, corporate and investment banking, holding senior positions in United Bank for Africa Plc, Access Bank, Coronation Merchant Bank and Emerging Africa Capital Group.

Commenting on the new appointments, the Chairman, NOVA Merchant Bank, Phillips Oduoza, said the experience of these versatile bankers, NOVA positions the bank to fulfill its vision of being a major financial solutions provider as it enters the next stage of its growth phase.

“These key appointments represent NOVA’s commitment to optimise its management structure and align it to continually serve our clients and leverage on our business successes. It further demonstrates the inclusive nature of the Bank by placing women in key leadership roles,” Oduoza noted.

He expressed gratitude to Duroha and Adigun for their service since its inception, wishing them all the best in their future endeavours, He stressed that the new appointments are crucial as the bank grows capacity to drive its capital market subsidiaries.