FCMB Group Plc has announced the appointment of former Lafarge Africa CEO, Mrs. Adepeju Adebajo, as an Independent Non-Executive Director on the Board of the company.
The appointment was disclosed in a filing submitted to the Nigerian Exchange Limited on May 8, 2026.
According to the Group, the appointment is aimed at strengthening the Board and supporting its transformation and growth objectives across the organisation.
What the statement is saying
FCMB Group stated that the appointment has received approval from the Central Bank of Nigeria (CBN).
The company added that Mrs. Adebajo brings more than three decades of experience spanning industry, renewable energy, agriculture, finance, and consulting.
- “FCMB Group Plc wishes to notify Nigerian Exchange Limited and the general public that the Central Bank of Nigeria has approved the appointment of Mrs. Adepeju Adebajo as an Independent Non-Executive Director on the Board of FCMB Group Plc.”
The Group said Mrs. Adebajo has over 30 years of professional experience across multiple sectors.
FCMB added that she has worked with clients and teams across Sub-Saharan Africa and Europe, helping organisations drive growth and impact.
The company noted that her broad leadership experience is expected to strengthen governance and strategic execution within the Group.
More insights
Mrs. Adebajo holds a Bachelor’s degree and a Master’s degree in Chemical Engineering from Imperial College London, as well as an MBA from Harvard Business School.
She currently serves as Chair of the Lagos State Employment Trust Fund and Transformation Lead at Etex Group, which includes Nigerite and Emenite Limited.
- She previously served as Chief Executive Officer of Lafarge Africa Plc’s Cement business.
- Mrs. Adebajo also held CEO positions at Mouka Limited, Lumos Nigeria, and UTC Nigeria Plc.
- Earlier in her career, she worked as an Assistant General Manager at United Bank for Africa Plc.
- In 2025, she founded Climate Governance Initiative Nigeria, affiliated with the World Economic Forum.
She also serves on the World Economic Forum Council on Climate and Nature Governance for the 2025–2027 term, further strengthening her profile in sustainability and corporate governance.
What you should know
The appointment comes after FCMB Group successfully crossed a key regulatory milestone by raising N500 billion, enabling its banking subsidiary to meet the international banking licence capital requirement set by the Central Bank of Nigeria.
The recapitalisation places FCMB among banks that have met the apex bank’s revised capital thresholds as the industry undergoes a major restructuring phase.
- FCMB Group reported profit before tax of N200.9 billion for the 2025 financial year, representing an 80% increase from N111.9 billion in 2024.
- Profit after tax rose by 141% to N176.9 billion.
- Interest income crossed the N1 trillion mark, supporting overall earnings growth.
- Earnings per share increased to N3.96 in 2025 from N2.46 in the previous year despite a larger share base.
The Group’s latest financial performance reflects strong earnings momentum as Nigerian banks continue to strengthen capital positions and expand operations.
