In a statement to the Nigerian Stock Exchange (NSE), FCMB notified of its reorganization in its management that current MD/CEO Ladi Balogun, will be stepping down after being at the helm for ten years.
He is stepping down as a result of the CBN policy which limits bank MDs to a tenure of ten years. He will be replaced by Adam Nuru, Executive Director (ED) of development.
However, in keeping it in the family, will remain as Group CEO of FCMB Group effective March 20, 2017 and will be expected to continue calling the shots.
