Tag: FCMB

Paternity scandal: FCMB MD embarks on leave as probe begins

Banjo Olaniran
Paternity scandal

Paternity scandal: FCMB MD embarks on leave as probe begins   The Managing Director, First City Monument Bank Limited (FCMB), Adam Nuru, has volunteered to go on leave to enable the bank to investigate the paternity allegations against him. This was disclosed in a statement by the bank on Tuesday. The statement read, “We are aware of several stories circulating across several media platforms about our bank’s Managing Director, Adam Nuru; a former employee, Mrs Moyo Thomas, and her deceased husband, Mr Tunde Thomas. “While this is a personal matter,…

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My Bank. My Wife and The New Social Order

Banjo Olaniran
Paternity scandal

My Bank. My Wife and The New Social Order   Let me first out myself. I am a former Employee of FCMB. I worked there for a bit in the securities trading arm, CSL. CSL is a legendary institution that continues to be the corner piece of the Nigerian Capital Market. I was the Head of Local Business. One thing that attracted me to the firm was its legacy. Its founder, Chief Subomi Balogun was a hero of sorts to young Stockbrokers like myself. He had built the institution from…

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FCMB set to acquire AIICO Pensions

Banjo Olaniran
FCMB set to acquire AIICO Pensions

Two pension funds administrators (PFAs) are ready to become one through acquisition as the FCMB Pensions Limited, a subsidiary of First City Monument Bank (FCMB) Group commenced the process to buy AIICO Pensions Managers Limited. In separate filings at the Nigeria Stock Exchange, the duo Wednesday notified the investing public of the deal saying that FCMB has entered into discussions with shareholders of AIICO Pension Managers Limited. FCMB intends to acquire the 70 per cent stake held by AIICO Insurance Plc and 26 per cent held by some other shareholders…

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