FCMB appoints Adamu Nuru as new MD
The appointment is in line with the new Central Bank of Nigeria (CBN) rule that Chief Executive Officers cannot exceed 10 years in the course of service
Before the appointment, Nuru, is currently the Executive Director in charge of Business Development for the bank. He previously served as Regional Director, in charge of Abuja and Northern Nigeria, where he was responsible for growing the bank’s Northern franchise to become the largest and most profitable region of the bank.
He has 28 years of banking experience, with seven years spent with FCMB. He is a graduate of Ahmadu Bello University, Zaria, where he studied Business Administration, and has attended management programmes at leading international educational institutions.
Meanwhile, Balogun will assume the role of Group Chief Executive of the holding company, FCMB Group Plc.The holding company comprises FCMB Limited, FCMB Capital Markets, CSL Stockbrokers and CSL Trustees.
Under Ladi Balogun’s leadership, FCMB Limited has undergone a successful transformation from a merchant bank to a top 10 commercial bank in Nigeria across key metrics.
During this period the bank has emerged as a leader in consumer finance, agricultural banking and electronic banking. The bank’s franchise has grown to 4 million customers, 220 branches and a successful banking subsidiary in the United Kingdom.