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Nova Merchant Bank appoints new directors and promotes its staffs


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As it promotes about 20% of its workforce to various grade levels within the Bank, NOVA Merchant Bank, a leading merchant bank in Nigeria, has announced the appointment of two independent non-executive directors and one non-executive director. The three new hires are anticipated to strengthen the board and increase its inclusivity and diversity.

A top-level finance, banking, and capital market professional with more than 40 years of experience in the banking sector and capital markets, Mr. Chinedu Uzoho (CIS & CPIN) was appointed as a Non-Executive Director.

He is currently the Chairman of NovaMBL Securities Limited and has served on the boards of numerous reputable organizations (a subsidiary of Nova Merchant Bank Limited).

Mrs. Funmi Oyetunji (BSC; FCA; FCCA), who has been appointed as an independent non-executive director, is a skilled professional with about 40 years of corporate experience gained through a variety of roles in professional practice and banking in Nigeria and the United Kingdom. She has served the duration of three terms on a number of boards and recently retired from her position as an independent non-executive director of Ecobank. She leads Abitos Financial Services Limited as CEO.

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In addition to being an Independent Non-Executive Director, Mrs. Gbemisola Laditan (FCA & CITN) is a chartered accountant with over 30 years of experience in banking and consulting. She has held board positions with prestigious organizations, and she currently serves as managing director and CEO of Flux Logistix Limited.

The appointments were approved by the shareholders on July 29, 2022, at the Bank’s head office in Lagos, following the presentation and approval of the Bank’s financial results for the fiscal year that ended on December 31, 2021, at its 5th Annual General Meeting. Despite the obstacles and macroeconomic difficulties, the Bank reported a significant improvement in key financial parameters in the year under review. The Nigerian Central Bank and all other regulatory bodies have given their approval to all of the appointments.

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The appointments, according to Mr. Phillips Oduoza, Chairman of NOVA Merchant Bank, show the bank’s commitment to leveraging a team of talented professionals with the necessary experience, new perspectives, and insights to lead the next wave of the banking revolution.

According to him, the bank’s overarching philosophy of “New Thinking-New Opportunities to win in the marketplace” served as the basis for the careful selection of the new members. “We are an Impact-driven organization committed to delivering sustainable tangible results to all stakeholders,” he said.

Additionally, the MD/CEO, Mr. Nath Ude, announced the promotion of about 20% of the Bank’s workforce as a sign of the bank’s dedication to empowering its employees and in appreciation for their work in boosting productivity despite the difficult economic environment. The Bank’s senior, middle, and junior levels were all involved in the promotion process, despite the management’s ongoing efforts to develop career opportunities within the organization.

NOVA is a performance-driven organization that holds its staff to the highest ethical standards, Ude said in response to the exercise. At NOVA, we have a progressive corporate culture that benefits our employees greatly and is exemplified by our dedication to them, which is the reason for this promotion process. We will continue to be committed to training and empowering our people to realize their full potential.

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NOVA Merchant Bank Limited is a Nigerian merchant bank with an investment grade rating that provides an integrated suite of financial solutions including Financial Intermediation, Wholesale Banking, Investment Banking, Asset Management, Securities Trading, Wealth Management, Trade Services, Transaction Banking, Cash Management, and Digital Banking.

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