Visi MoneyNOVA Merchant Bank Limited has announced its plans to transition from a merchant bank to a full-fledged commercial bank. The bank recently acquired a national commercial banking license, which allows it to expand its operations. As part of this transition, the bank has appointed Adebowale Oyedeji as the new Managing Director and Chief Executive Officer. Oyedeji brings extensive experience at the C-suite level within a major commercial bank in Nigeria. He will be replacing the outgoing MD, Nath Ude, whose tenure concluded in November 2023.
The board of NOVA Merchant Bank expressed its gratitude to Ude for his work and highlighted Oyedeji’s accomplishments and qualifications for the role. Oyedeji holds a degree from the University of Ibadan and the University of London. He served as the MD/CEO of Guaranty Trust Bank UK and later held the position of Executive Director within the Guaranty Trust Bank Group. He also served as an Independent Non-Executive Director on the board of Stanbic-IBTC. With his experience and leadership skills, Oyedeji is seen as a perfect fit to lead NOVA Merchant Bank in its transition to a commercial bank.
Oyedeji will lead a new executive team to implement the bank’s Accelerated Growth Initiatives for the next 5-year plan, starting in January 2024. The bank aims to leverage technology, innovation, and adept leadership to effectively compete for market share in commercial and retail banking. The board has expressed its confidence in Oyedeji’s capabilities to drive improved execution and financial performance for the bank. Oyedeji expressed his enthusiasm for the role and stated that he is honored to be the pioneer CEO of NOVA Commercial Bank, which aims to positively change the banking landscape in Nigeria.
Overall, this article highlights the transition of NOVA Merchant Bank to a commercial bank and the appointment of Adebowale Oyedeji as the new CEO. It emphasizes Oyedeji’s qualifications and experience, as well as the bank’s goals to leverage technology and innovation in order to compete in the banking market. The article also mentions the bank’s confidence in Oyedeji’s capabilities to drive financial performance and execution.
