Mr Adam Nuru, the MD/CEO of First City Monument Bank (FCMB), might have been pressured into embarking on an indefinite leave pending the outcome of the ongoing investigation into allegations of marital infidelity involving an ex-staff of the bank.
A panel set up by the Board of Directors of the bank is now probing the allegation against Nuru.
Although an FCMB source stated that Nuru voluntarily decided to proceed on leave while the report of the panel is being awaited, The Podium Media gathered that the CBN and a section of the bank’s Board hold the view that the MD’s position has become untenable amidst the furore that the allegation has generated, and the collateral damage the saga has done to the bank’s reputation.
Sources in CBN’s Ethics and Banking Supervision Department revealed that although the allegations are not purely in relation to the bank’s fiduciary responsibilities, ” It is bad enough that the moral authority of the MD has been thoroughly compromised, and he may no longer command the respect of fellow directors and the staff”.
“In such a situation, he should step aside to allow for unfettered investigations”, the sources said.
The Social Media has been buzzing with vociferous calls for Nuru’s sack. Thousands of people have signed a petition to the Central Bank of Nigeria (CBN), calling for the sack of Nuru.
FCMB’s Corporate Affairs department promised to issue a formal statement this week.
