NOVA Appoints Adebowale Oyedeji as CEO

NOVA Merchant Bank Limited, a prominent merchant bank in Nigeria, is embarking on the conversion to a full Commercial Banking Business after obtaining the national commercial banking license from the relevant authorities. In line with this transition, Mr. Adebowale Oyedeji has been appointed as the new Managing Director and Chief Executive Officer, officially assuming his role on January 2, 2024.

Wale Oyedeji brings extensive C-suite experience from a prominent commercial bank in Nigeria to his new role. He is set to succeed the former Managing Director, Mr. Nath Ude, whose tenure concluded on November 6, 2023.

Wale Oyedeji, has a wealth of hands-on experience and a proven track record in achieving revenue objectives, business turnaround, enhanced productivity, people management, operational efficiency, and risk control, is well-suited to lead NOVA Merchant Bank. His executive roles in both foreign and Nigerian environments provide him with a global perspective, ideal for steering a financial institution toward success. Previously, he served as the MD/CEO of Guaranty Trust Bank UK from 2008 to 2011, followed by an Executive Director role at Guaranty Trust Bank Group from 2011 to 2018, overseeing various industry-focused Corporate and Commercial Banking teams that contributed to the group's transformation. Before assuming the role of MD/CEO at NOVA, Wale served on the Board of Stanbic-IBTC as an Independent Non-Executive Director from 2020 to 2023.

Wale will lead the new executive team in executing the Accelerated Growth Initiatives (AGI) as part of the Bank's upcoming 5-year plan, beginning in January 2024.

Wale holds a Bachelor of Science degree in Agricultural Economics from the University of Ibadan. He furthered his education by earning an M.Sc. degree in Financial Economics from the University of London and completing the Advanced Management Program (AMP) at Harvard Business School (HBS). He is recognized as a Fellow of the Institute of Chartered Accountants of Nigeria (FCA) and an Honorary member of the Chartered Institute of Bankers (HCIB).

Source: NOVA