Paternity Scandal: FCMB Announces End of Adam Nuru's Service as Managing Director

The Board of Directors of First City Monument Bank (FCMB) Ltd has announced the discontinuation of Mr. Adam Nuru's service as Managing Director of the lending institution.

In response to media allegations in late 2020 against the former Managing Director, the company's board announced in a disclosure that it "did not establish any contravention of its policies" after scrutiny by the tier-2 bank.

The company in the disclosure announced the appointment of Mrs. Yemisi Edun as its new Managing Director. Yemisi becomes the first female CEO of Subomi Balogun-backed company after the appointment received the blessing of the industry regulator, the Central Bank of Nigeria.

In January, the bank’s board appointed Ms. Edun, who was the bank’s executive director/chief financial officer at the time, to hold the fort for Mr. Nuru, to allow for an investigation into a paternity scandal involving the former CEO, Moyo Thomas, a one-time FCMB employee and Tunde Thomas, her late husband.

The high-profile probe, which arose from a petition signed by over 1,400 Nigerians, was sequel to an allegation that Mrs. Thomas, who had informed her husband of her decision to leave for the United State with the kids, called Mr. Thomas on arrival that none of the two kids, who had known the 45-year-old as their father, was his.

The Board of Directors of FCMB thanked Mr Nuru for his years of dedicated service and wishes him all the best in his future endeavours.