Leading Nigerian merchant bank NOVA Merchant Bank Limited recently reclaimed the national commercial banking license and declared that it would soon start the process of converting to full commercial banking.
Adebowale Oyedeji has been named the bank’s new Managing Director and Chief Executive Officer to successfully oversee operations and carry out the bank’s new mandate.
The Central Bank of Nigeria (CBN) has authorized the appointment, which is effective today. Oyedeji will take over for the outgoing chief, Nath Ude, whose term ended on November 6, 2023, and brings with him several years of C-suite expertise from a prominent commercial bank in Nigeria.
Since Ude’s appointment in 2020, the board of NOVA has shown its gratitude to him for his efforts and contributions. Oyedeji is an ideal choice to lead NOVA due to his extensive practical experience, solid track record of meeting revenue targets, ability to turn around businesses, enhanced productivity, people management, operational efficiency, and risk management.
Having held multiple executive positions in both foreign and Nigerian environments, he possesses a global perspective that is essential for successfully heading a financial organization
Between 2008 and 2011, he served as the MD/CEO of Guaranty Trust Bank UK, a subsidiary of the Guaranty Trust Bank Group. From 2011 to 2018, he was an Executive Director of the Guaranty Trust Bank Group, overseeing several commercial and corporate banking teams that were industry-focused and revolutionized the Group.
He served as an independent non-executive director on the Stanbic-IBTC board prior to being named MD/CEO of NOVA.
