Adebowale Oyedeji, Nnamdi Okonkwo
By Victory Oghene
Barring any unforseen huccups, Mr. Adebowale (Wale) Oyedeji will take over from Mr. Nnamdi Okonkwo as the new Group Managing Director (GMD) of FBN Holdings Plc who will retire after completing his term. This appointment takes effect from November 13, 2024.
This appointment, which is subject to the approval of the Central Bank of Nigeria and ratification by shareholders at the next Annual General Meeting, marks a new chapter for the financial institution.
Wale Oyedeji joins from Nova Commercial Bank with over 30 years of banking experience across corporate banking, treasury, and commercial banking, Oyedeji brings extensive leadership expertise to the role.
His most recent position was as Managing Director/CEO of Nova Commercial Bank, where he played a key role in the institution’s transformation and expansion into retail banking.
Oyedeji’s academic 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 also a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and an alumnus of the prestigious Advanced Management Program at Harvard Business School.
His career spans significant leadership roles, including serving as Managing Director of Guaranty Trust Bank UK between 2008 and 2011, and as an Executive Director for the Corporate Banking Group of Guaranty Trust Bank Plc.
He also held a position as an Independent Non-Executive Director at Stanbic IBTC Bank, further solidifying his expertise in the banking sector.
At FBN Holdings, Oyedeji will lead the implementation of the company’s new 5-year strategic plan, overseeing operations at both the Holdco and its various subsidiaries.
Speaking on his appointment, the Group Chairman of FBN Holdings, Mr. Femi Otedola, CON, said,
“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 expected to enhance FBN Holdings’ long-term strategy and continue its legacy as one of Nigeria’s premier financial institutions.
A year of strategic board changes
Oyedeji’s appointment comes amid a year of substantial leadership changes at FBN Holdings, as the company continues to reshape its governance and strategic direction.
It would be recalled that billionaire businessman Femi Otedola was appointed as the new Chairman of FBN Holdings earlier in the year. This marked the beginning of a new era for the institution. Otedola, who became the largest individual shareholder in FBN Holdings in 2021, has played a key role in reshaping the company’s leadership.
