Lagos-headquartered FCMB Group PLC says Adam Nuru, the immediate past managing director of the bank who became
enmeshed in an alleged paternity scandal month ago, did not breach its policies.
“The board had earlier reviewed media allegations made in late 2020 against the former MD and did not establish any contravention
of its policies,” the financial services group said in a statement Tuesday.
Mr Nuru exited the bank this week four years into a term that ordinarily should last five. The board says Mr Nuru left at the “end of
service”, but did not give details of its findings or why he left ahead of time.
The FCMB Group hierarchy announced its first female Managing Director Yemisi Edun, who has been in acting capacity for
Mrs Edun, a former executive director and chief financial officer of the bank, took over tentatively in January to allow a formal
The probe was launched following allegations that Mr Nuru had been involved in a romantic affair with a married employee of the
bank, Moyo Thomas, who later left the bank.
Nearly 10,000 people petitioned the bank and the Central Bank of Nigeria demanding Mr Nuru’s removal after reports said the
woman’s estranged husband died in December 2020 after realising their two children were not his.
Mrs Moyo denied informing her husband the children were not his, describing the allegation as “malicious”. She did not comment
on the alleged affair.