NOVA Merchant Bank Announces Appointment of New Directors, Promotion of Workers

NOVA Merchant Bank, a leading merchant bank in Nigeria made a new changes to its operations by appointing new directors and promotion of workers

As it promotes roughly 20% of its personnel to various grade levels inside the Bank, NOVA Merchant Bank, a renowned 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 inclusion and diversity. 


A top-tier finance, banking, and capital market specialist with more than 40 years of experience in the banking sector and capital markets, Mr. Chinedu Uzoho was appointed as a Non-Executive Director. He is currently the Chairman of NovaMBL Securities Limited and has served on the boards of other reputable organizations (a subsidiary of Nova Merchant Bank Limited).


Mrs. Funmi Oyetunji, who was appointed as an independent non-executive director, is a skilled professional with about 40 years of corporate experience gained through a variety of jobs in banking and professional practice 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.



Mrs. Gbemisola Laditan, a chartered accountant with over thirty years of expertise in banking and consultancy, is also an independent non-executive director. She has held board positions with prestigious organizations, and she currently serves as managing director and CEO of Flux Logistix Limited.


At the bank's 5th Annual General Meeting, held on July 29, in Lagos, where the bank's financial performance for the year ended December 31, 2021, was presented and approved, the shareholders approved the appointments. Despite the difficulties and macroeconomic obstacles, the bank recorded a significant improvement in key financial parameters in the year under review. The Nigerian Central Bank and all other regulatory organizations have given their approval to all of the appointments. 


The appointments, according to Mr. Phillips Oduoza, Chairman of NOVA Merchant Bank, who congratulated the new Directors, 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.

The careful selection of the new members, he said, was informed by the Bank's overarching philosophy of New Thinking-New Opportunities to win in the marketplace. "We are an Impact-driven organization committed to delivering sustainable tangible results to all stakeholders. 


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


NOVA is a performance-driven business that holds its workers to the greatest ethical standards, Ude remarked 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 are still committed to helping our employees grow and be given the tools they need to realize their full potential. 

The Nigerian merchant bank NOVA Merchant Bank Limited, which has an investment grade rating, provides a comprehensive array of financial services including financial intermediation, wholesale banking, investment banking, asset management, securities trading, wealth management, trade services, transaction banking, cash management, and digital banking.

Peter Akinlabi

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NOVA Merchant Bank, a leading merchant bank in Nigeria made a new changes to its operations by appointing new directors and promotion of workers