FBN Holdings appoints Adebowale Oyedeji as GMD

FBN Holdings Plc has appointed Adebowale Oyedeji as its Group Managing Director effective November 13, 2024.

Adewale Arogundade, Company Secretary of the Holdings, confirmed this in a notification sent to the Nigerian Exchange Limited.

In the statement on Friday in Lagos, Arogundade said the appointment was subject to the approval of the Central Bank of Nigeria and ratification of the firm’s shareholders at the annual general meeting of the company.

The statement said: “In accordance with the NGX rulebook, we notify the NGX and the investing public that the company’s Board of Directors has appointed Adebowale Oyedeji as the Holdings’ GMD, effective November 13, 2024.”

He added that Oyedeji, a seasoned professional, would replace Nnamdi Okonkwo, who would retire after completing his term.

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Oyedeji holds a Bachelor of Science 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 and an alumnus of Harvard Business School’s Advanced Management Programme.

With over 30 years of experience in banking, spanning corporate banking, treasury, commercial banking and general management, Oyedeji served as Managing Director of Guaranty Trust Bank UK from 2008 to 2011.

He was later appointed to the Board of GTBank as Executive Director in October 2011, contributing significantly to the bank’s growth and transition.

He has also served as an Independent Non-Executive Director at Stanbic IBTC Bank.

Before this appointment, Oyedeji was the Managing Director of Nova Commercial Bank, where he played a key role in its conversion to a commercial bank and expansion into retail banking.

Arogundade highlighted that Oyedeji began his career with Ernst & Young, training as an accountant, and would now lead FBN Holdings’ executive team in implementing the company’s new five-year strategic plan.

Group Chairman, Femi Otedola, welcomed Oyedeji and expressed confidence that he would build on the 130-year-old franchise’s solid foundation and sustain its leadership position.