FULL LIST: Current Nova Merchant Bank Board of Directors

In the dynamic world of finance, where decisions shape destinies and strategies pave the way for success, the role of a board of directors is paramount. Within this intricate web of leadership and vision lies Nova Merchant Bank, a beacon of innovation in Nigeria’s banking landscape.

At the helm of this financial powerhouse stands a group of individuals whose expertise spans diverse industries, their collective wisdom steering Nova towards unparalleled heights.

The Board of Directors at Nova Merchant Bank is not just a governing body; they are architects of change, orchestrating a symphony of progress that resonates far beyond the confines of traditional banking norms.

Hence, we delve into the profiles and insights that define this extraordinary ensemble, revealing how their strategic acumen propels Nova Merchant Bank, now Nova Bank, into an era defined by excellence and foresight.

Nova Merchant Bank Board of Directors

Below are the members of Nova Bank board of directors:

1. Phillips Oduoza — Chairman
2. Adebowale Oyedeji — Chief Executive Officer/Managing Director
3. Shams Butt — Non-Executive Director
4. Chief Malachy Nwaiwu — Independent Director
5. Chinedu Uzoho — Non-Executive Director
6. Funmi Oyetunji — Independent Non-Executive Director
7. Gbemisola Laditan — Independent Non-Executive Director
8. Funke Okoya — Executive Director Wholesale, and Investment Banking
9. Emmanuel Onokpasa — Executive Director Digital Banking and Subsidiaries

Nova Merchant Bank (Nova Bank) Chairman — Phillips Oduoza

With 30 years wealth of knowledge and experience in the banking sector at renowned financial organizations, Phillips Oduoza serves as the founder and Chairman of Nova Merchant Bank Limited. His extensive expertise spans commercial and corporate banking, making him a globally respected and successful banker.

Before taking on the role of promoting Nova, he had recently retired as the global CEO of UBA Group. During his time there, he played a key role in solidifying the Bank’s reputation as a leading African Financial Institution with a strong global presence.

Mr. Oduoza was instrumental in the early success of Diamond Bank Plc in the 1990s, where he worked alongside a small team to establish it as one of the most innovative and prosperous banks at that time.

His leadership saw the introduction of several groundbreaking financial products and initiatives at Diamond Bank, leading to his swift promotion to Executive Director in 1999.

Beginning his banking career with Citibank in 1989 as one of their first Executive Trainees, he gained comprehensive experience across all areas of banking before briefly working at International Merchant Bank (IMB).

Mr. Oduoza possesses extensive expertise in the banking sector within Nigeria and Africa at large, enabling him to establish and manage highly prosperous sustainable financial institutions.

He has spearheaded numerous successful financial transactions across various sectors such as infrastructure, agriculture, manufacturing, telecommunications, energy, technology projects, financial advisory services, oil & gas, corporate finance, capital market activities, and debt restructuring within Nigeria and throughout Africa.

Mr. Oduoza has played a pivotal role in transformative initiatives within the banking industry and was instrumental in leading the Bankers Committee sub-committee on Payment Systems and Infrastructure that facilitated the implementation of BVN and Electronic Payment System in Nigeria (including Card payments, ATM transactions, POS systems, Online transfers).

Phillips Oduoza has held positions on the boards of prominent organizations including Diamond Bank Plc, Interswitch Plc, and Valuecard Plc (Unified Payment Services Plc) where he acted as chairman.

He has also contributed his expertise to Nigeria Interbank Settlement System (NIBSS), Nigeria Payment System, Nigeria Economic Summit Group (NESG), Financial Markets and Dealers Quotations (FMDQ), UBA Capital, and UBA Plc.

Presently, he is a board member of Veritas University Abuja, Lagos State Security Trust Fund, Development Bank of Nigeria, and various other institutions.

Mr. Oduoza is a distinguished member of the Chartered Institute of Bankers (FCIB) and holds a First Class BSc. Hons in Civil Engineering, an MBA specializing in Finance, and is a graduate of the Harvard Business School’s Advanced Management Program (AMP).

He has received prestigious accolades for his outstanding achievements, including being named Africa CEO of the year in New York in 2013 and 2014.

Mr. Oduoza regularly engages with a wide array of individuals and leaders across various industries such as corporate, diplomatic, entrepreneurship, and professional services.

Nova Merchant Bank (Nova Bank) Chief Executive Officer/Managing Director — Adebowale Oyedeji

Adebowale Oyedeji currently serves as the CEO and Managing Director of NOVA Merchant Bank Limited after previously serving as an Independent Non-Executive Director on the Board of Stanbic-IBTC from 2020 to 2023.

Mr. Oyedeji, a seasoned banking professional with more than 28 years of experience, has specialized knowledge in Corporate Banking, Treasury operations, and Commercial Banking.

His career highlights include serving as the Managing Director of Guaranty Trust Bank UK from 2008 to 2011 before transitioning to the Board of Guaranty Trust Bank PLC in October 2011.

In his role as Executive Director for the Corporate Bank Group, he made substantial contributions to the company’s expansion and success until his retirement in August 2018.

In 1994, he transitioned to GTBank after a two-year stint at Ernst and Young in Lagos. A graduate of the Harvard Business School Advanced Management Programme, Mr. 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.

Additionally, he is recognized as a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and an associate member of the Chartered Institute of Taxation.

Nova Merchant Bank (Nova Bank) Non-Executive Director — Shams Butt

Shams Butt, a seasoned banker with more than 25 years of expertise in top executive roles at major global financial firms, currently holds the position of Non-Executive Director at Nova Merchant Bank Limited.

Mr. Butt has a diverse background in banking, with experience in Investment Banking, Risk Management, Compliance, Treasury, Ratings Advisory, and Private Banking.

He has successfully led projects in emerging markets and held senior positions at Citigroup in London. Additionally, he has worked at various Citibank offices around the world including Tokyo, Bahrain, and Pakistan.

Furthermore, Mr. Butt held the position of Director at Deutsche Bank in New York, leading the Risk and Compliance division at Deutsche Bank Advisors LLC.

A British national residing in Dubai, Mr. Butt now serves as an Advisor at African Industries, a renowned company in steel, manufacturing, aluminum products, and construction materials on a global scale. In his role, he manages investment activities, supervises real estate development projects, and oversees all M&A transactions and joint ventures for the group.

Mr. Butt is a graduate of George Washington University in Washington DC with both a Masters of Business Administration (MBA) and Bachelors of Business Administration degrees.

Nova Merchant Bank (Nova Bank) Independent Director — Chief Malachy Nwaiwu

After a 35-year career at the Central Bank of Nigeria (CBN), Chief Malachy Nwaiwu has retired from the Executive Cadre and now serves as an Independent Director at Nova Merchant Bank Limited.

While at CBN, Chief Nwaiwu spearheaded numerous groundbreaking projects across diverse sectors such as currency operations, branch management, finance development, HR, and IT.

Notably, he played a key role as Secretary of the Committee responsible for overseeing the creation and introduction of the N1000 banknote.

Chief Nwaiwu also actively contributed to multiple committees focused on enhancing CBN’s operations and led efforts to improve service delivery at the Bank’s branches until his retirement.

Chief Nwaiwu holds a Master’s degree in Business Administration with a focus on Management and Finance from the University of Lagos, as well as a Bachelor’s degree in Agricultural Economics from the University of Ibadan and another in Law from the University of Abuja.

He is affiliated with the Nigerian Institute of Management and the Association of Management and Administration (AMA) USA. Currently, he practices law at the esteemed Chukwuma-Machukwu Ume SAN law firm, specializing in arbitration.

Nova Merchant Bank (Nova Bank) Non-Executive Director — Chinedu Uzoho

Chinedu Uzoho possesses extensive expertise in finance, banking, and capital markets, backed by numerous years of experience in both the banking sector and capital markets.

Having held prominent positions at UBA, Fidelity Bank, and Diamond Bank, he climbed the corporate ladder to become a General Manager before transitioning to the role of MD CEO at Diamond Mortgages Ltd.

With extensive experience in commercial and mortgage banking spanning several decades, he is a seasoned former banker. Additionally, he possesses strong entrepreneurial skills and a wealth of knowledge in Capital Markets, having served on the Boards of CSCS, Diamond Securities Ltd, and To mil Trust Ltd.

He also has previous experience as an authorized dealing clerk at the Nigerian Stock Exchange. Chinedu has participated in numerous local and international training courses throughout his career.

Nova Merchant Bank (Nova Bank) Independent Non-Executive Director — Funmi Oyetunji

Funmi Oyetunji is a seasoned professional with nearly four decades of corporate experience in various fields and industries.

In the 1980s, she held top positions at a prominent audit and accounting firm in Nigeria before transitioning to consulting at KPMG’s London office for a five-year stint. During her time there, she honed her skills in business advisory and banking supervision as a Manager.

After a successful decade in banking, during which she rose to become the Group Treasurer of First Bank Plc and achieved numerous groundbreaking accomplishments in the bank’s Treasury and International Banking Operations, Mrs. Oyetunji transitioned to the real estate development and investment sector in 2002.

She has transformed Abitos Financial Services Ltd, a family investment firm, from a startup into a thriving multi-million-dollar enterprise.

Additionally, she has held positions on the boards of various companies including Ecobank Nigeria Ltd (Chairman of the Risk Committee), American Tower Corporation Nigeria (Chairman of the Audit Committee), and Prestige Insurance Plc (Chairman of the Audit Committee).

Mrs. Oyetunji has further enhanced her expertise through board development programs at prestigious institutions like Harvard, INSEAD, and IMT.

Notably, she established the LASAL Foundation to provide scholarship grants to underprivileged students in top Nigerian universities, fostering social mobility.

Sharing her knowledge, she has lectured on business leadership, finance, and accounting at Lagos Business School and authored a book titled A Conscious Life: Navigating Critical Stages and Aspects of Life Successfully.

Nova Merchant Bank (Nova Bank) Independent Non-Executive Director — Gbemisola Laditan

Gbemisola Laditan is an accomplished chartered accountant with a wealth of expertise spanning three decades in various financial sectors such as banking, consultancy, management accounting, corporate finance, and more.

She holds leadership positions as the CEO of Flux Logistix Limited and an Executive Director in the Superflux Group of Companies, overseeing entities like Superflux International Limited and CourierPlus Services Limited.

Having spent 14 years at United Bank for Africa Plc, she navigated her way up the corporate ladder, holding key roles such as Head of Subsidiaries Coordination, Portfolio Management, Acting Managing Director of UBA Private Equity Ltd, and overseeing Investments, Tax, and Insurance Management.

She holds an MBA from Obafemi Awolowo University and is a fellow of ICAN, member of CITN, Financial Reporting Council, and possesses the IFRS Diploma from ACCA.

Nova Merchant Bank (Nova Bank) Executive Director Wholesale, and Investment Banking — Funke Okoya

Funke Okoya serves as the Executive Director of the Institutional Bank Group (IBG) and holds the position of Executive Compliance Officer (ECO) at NOVA Merchant Bank. In her dual capacity, she is responsible for managing and supervising the development and compliance activities within the Bank’s Corporate Banking, Oil & Gas, and Energy sectors.

Boasting more than 25 years of extensive experience, her skills cover various areas including Corporate and Investment Banking, Commercial Banking, Credit and Risk Management, Operations, Customer Services, Technology, Project Management, Branding, Strategy, and Communications.

Before joining NOVA, Funke held important roles at various financial institutions, including Director of Client Origination and Coverage at Emerging Africa Capital Group, Group Head of Corporate Banking at Coronation Merchant Bank, Regional Bank Head in the Commercial Banking Group at Access Bank Plc, and pioneer business manager at United Bank for Africa Plc.

She began her career in Risk Management and the Commercial Banking Group at Ecobank Nigeria Plc. Funke Okoya’s notable achievements include being appointed as the chairperson of the Women’s Empowerment Commission of Women in Finance Nigeria in 2022.

In this capacity, she actively supports women’s causes, promotes financial literacy, and advocates for gender equality to enhance the professional growth of women in Nigeria.

Funke’s exceptional leadership in gender diversity, sustainability, and female inclusion led to her appointment as a member of the International Advisory Board (IAB) at Business Schools Netherlands (BSN) in October 2022.

With a Business Administration degree from the University of Lagos and an MBA from Business School Netherlands, Funke also completed the Advanced Corporate Finance Program at INSEAD Business School.

As a certified Fellow and council member of the Association of Investment Advisers and Portfolio Managers, Funke’s diverse expertise in finance combined with her commitment to gender diversity sets her apart as a standout professional in the industry.

Nova Merchant Bank (Nova Bank) Executive Director Digital Banking and Subsidiaries — Emmanuel Onokpasa

Emmanuel Onokpasa is the Executive Director of the Digital & Retail Bank Group (DRBG) at NOVA Merchant Bank Limited, where he leads the Retail Banking Branches and Digital Banking divisions.

With close to thirty years in the financial services industry, he possesses a wealth of expertise across a wide range of areas such as managing multi-currency balance sheets, mitigating foreign exchange risks, dealing with fixed income securities, overseeing structured trade and finance transactions, facilitating debt raising activities, handling international trade operations, directing wholesale banking functions, developing business strategies, managing operations effectively, conducting audits, and providing consulting services.

Emmanuel Onokpasa has held key positions such as Group Treasurer and Head of Global Financial Institutions and Structured Finance in major banks like United Bank for Africa and Diamond Bank.

Known for his sharp professionalism, effective leadership, operational skills, and innovative thinking, Onokpasa earned a bachelor’s degree in accounting from the University of Benin.

He is a Fellow of the Institute of Chartered Accountants of Nigeria (FCA), a Member of the Chartered Institute for Securities and Investment UK (MCSI), a Fellow of the Institute of Credit Administration, a Member of the Chartered Institute of Taxation of Nigeria, and an Honorary Senior Member of the Chartered Institute of Bankers (HCIB).

Additionally, he is an alumnus of both Harvard Business School and Lagos Business School, as well as a Member of the Institute of Directors UK (MIoD).

In conclusion, the Nova Merchant Bank Board of Directors plays a crucial role in guiding and shaping the strategic direction of the institution. Through their wealth of experience and expertise, they provide invaluable leadership that drives innovation and growth within the organization. Their commitment to excellence and governance standards sets a gold standard for other financial institutions to emulate.

As custodians of the bank’s vision and values, they uphold integrity and transparency in all their decision-making processes. Investors and stakeholders can rest assured that the Nova Merchant Bank Board of Directors is dedicated to ensuring sustainable success and value creation for all stakeholders.