Monday, Jan 25th 2021 7:13 AM

Market Digest Nigeria


Adam Nuru, FCMB MD embarks on voluntary leave

Adam Nuru

The embattled Managing Director of First City Monument Bank (FCMB), Mr. Adam Nuru has volunteered to proceed on leave while the board of the bank begins investigation into the alleged sex scandal involving him and a former staff of the bank, Ms. Moyo Thomas.

Adam Nuru

FCMB, in a statement on Tuesday said the bank was aware of several stories circulating across several media platforms about Nuru; a former employee, Mrs Moyo Thomas, and her deceased husband, Mr Tunde Thomas.

The statement said while this is a personal matter, the tragedy of the death of Mr Tunde Thomas and the allegations of unethical conduct required the bank’s board to conduct a review of what transpired, any violations of its code of ethics and the adequacy of this code of ethics.

“This is already under way. During the period of the review, the managing director has volunteered to proceed on leave. This will guarantee the sanctity of the review process,” the statement said.

The bank enjoined all its stakeholders to bear with it as it conduct this review and to please respect the various families involved.”

A source close to Adam Nuru disclosed that he decided to take the bull by the horn and save the bank from the negative public image trailing the scandal that got to public space on the first day of the New Year.

The source added that Adam Nuru decided to thread the bold path to “allow the organization carry out an independent investigation into the issues surrounding the allegation.”

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