Nigeria : FBN Holdings Appoints Adebowale Oyedeji as New Group Managing Director

FBN Holdings Plc has announced the appointment of Adebowale (Wale) Oyedeji as the new Group Managing Director (GMD), effective November 13, 2024. This appointment, pending approval from the Central Bank of Nigeria and ratification by shareholders at the next Annual General meeting signifies a new era for the financial institution.

Wale Oyedeji, who replaces the retiring Nnamdi Okonkwo, brings over 30 years of experience in corporate banking, treasury, and commercial banking to the role. His previous position was Managing Director/CEO of Nova Commercial Bank, where he played a pivotal role in transforming and expanding the institution into retail banking.

Oyedeji’s extensive leadership background includes a Bachelor of Science degree in Agricultural Economics from the University of Ibadan and a Master of Science in Financial Economics from the University of London. He is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and an alumnus of the Advanced Management Program at Harvard Business School.

His career highlights include serving as Managing Director of Guaranty Trust Bank UK, Executive Director for the Corporate Banking Group of Guaranty Trust Bank Plc, and as an Independent Non-Executive Director at Stanbic IBTC Bank. At FBN Holdings, Oyedeji will oversee the implementation of a new 5-year strategic plan, managing operations at both the Holdco and its subsidiaries.

Group Chairman Mr. Femi Otedola, CON, expressed his confidence in Oyedeji’s leadership, stating, “The Board is pleased to welcome Wale Oyedeji to the Holdco and looks forward to him building on the solid foundation of our 130-year-old franchise and sustaining its undisputed leadership position.”

This leadership transition is poised to enhance FBN Holdings’ long-term strategy and strengthen its legacy as one of Nigeria’s premier financial institutions.