FBN Holdings Names Oyedeji GMD, As Okonkwo Retires Nov. 13

 The board of FBN Hold­ings Plc, on Friday announced the appoint­ment of Adebowale Oyedeji as Group Managing Director with effect from No­vember 13, 2024, subject to the approval of the Central Bank of Nigeria (CBN).

He will be replacing Nnam­di Okonkwo, who retires after completing his term, according to a statement by Adewale Aro­gundade, the group’s Acting Company Secretary, pasted on the Nigerian Exchange Limited platform.

Oyedeji, who has been on the executive management, and /or board of three banking groups in the country over the past decade, is expected to lead the executive management teams at the hold­ing company and its various sub­sidiaries in the implementation of a five-year strategic plan.

A fellow of the Institute of Chartered Accountants of Nigeria (ICAN), who holds a Bachelor of Science degree in Agricultural Economics from the University of Ibadan and Masters of Science in Financial Economics from the University of London, the new GMD start­ed his working life training as an Accountant with the firm of Ernst & Young.

Oyedeji was the former Man­aging Director of Guaranty Trust Bank UK between 2008 and 2011, after which he was appointed to the board of Guar­anty Trust Bank Plc in October that year as Executive Director in charge of Corporate Banking Group.

He assumes his new role with over 30 years of banking experi­ence across Corporate banking, Treasury, Commercial Banking and General Management, be­sides serving as an Independent Non-Executive Director at Stan­bic IBTC Bank from 2020 to 2023.

Prior to his latest appoint­ment as GMD of FBN Holdings, Oyedeji was appointed Managing Director/Chief Executive Officer of Nova Commercial Bank from January 2, 2024, to stir its oper­ations and deliver on its new mandate of transforming from a leading merchant to major player in the commercial banking space.

The statement quoted Femi Otedola, chairman of FBN Hold­ings as expressing the pleasure at welcoming Oyedeji “to the Hold­Co and looking forward to him building on the solid foundation of 130-year-old franchise and sus­taining its undisputed leadership position.”