FCMB Says Ex-MD Adam Nuru Is Vindicated Of Paternity Scandal

• According to the board, Nuru left at the “end of service”, but it did not state why he left ahead of time

First City Monument Bank (FCMB) has said that its immediate past managing director, Adam Nuru, who was at the centre of an alleged paternity scandal months ago, did not breach any of 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.

Nuru exited the bank this week four years into a term that ordinarily should last five.

According to the board, Nuru left at the “end of service”, but it did not state why he left ahead of time.

Read also: Tunde Thomas: FCMB MD Goes On Voluntary Leave As Probe Commences

FCMB however announced its first female Managing Director, Yemisi Edun, who has been in acting capacity since Nuru stepped aside.

Edun, a former executive director and chief financial officer of the bank, took over tentatively in January to allow a formal inquiry into the allegations against Nuru.

The probe was launched following allegations that 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 Nuru’s removal after reports said the woman’s estranged husband died in December 2020 after realising their two children were not his.

Moyo denied informing her husband the children were not his, describing the allegation as “malicious” but did not comment on the alleged affair.

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