Paternity Mess: FCMB Boss Adam Nuru Steps Down as Probe Begins

Adam Nuru FCMB MD

By Dipo Olowookere

In order to allow for an independent investigation and guarantee the sanctity of the process, the embattled Managing Director of First City Monument Bank (FCMB), Mr Adam Nuru, has stepped down from the position.

It was gathered that the respected banker agreed to embark on leave as the board of the bank looks into the allegation of violation of the company’s ethics against him.

On December 31, 2020, news broke that Mr Nuru allegedly had an extra marital affair with a former employee of the financial institution.

In an online petition filed by friends of the husband of the former FCMB staff, Mrs Moyo Thomas, it was alleged that the situation led to the death of Mr Thomas.

According to reports, the alleged romantic affair between Mr Nuru and Mrs Thomas produced two children, who the late Mr Thomas thought were his.

It was further alleged that after Mrs Thomas informed her late husband of the true father of their children, he went into depression and then had a stroke. In the petition, the whole issue led to his death last month.

After he was buried on December 30, 2020, his friends launched an online petition, calling on the Central Bank of Nigeria (CBN) and the board of FCMB to dismiss Mr Nuru.

The matter became a topic of discussion on social media and almost dented the image of the bank. FCMB later issued a statement to say it would investigate the issue and take the appropriate action.

On Tuesday, FCMB issued a statement to give an update on the matter, disclosing that it has commenced an investigation and that the MD has voluntarily proceeded on leave.

“[The investigation] is already underway. 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 lender said in the statement.

It was gathered that Mr Nuru toed this line in order to save the bank from the negative public image trailing the scandal that got to public space on the first day of the New Year.

Though the bank described the issue was “a personal matter”, it explained that the investigation was mainly to determine if Mr Nuru was involved in unethical conduct or if he violated its code of ethics.

With the commencement of the process, FCMB has appealed to all its stakeholders to bear with it and respect the various families involved.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via

more recommended stories

%d bloggers like this: