Paternity Scandal: Nuru Still Listed As Managing Director On FCMB Website Months After Suspension Over Alleged Misconduct

Adam Nuru still remains the Managing Director of First City Monument Bank (FCMB), on the bank’s website, four months after he was suspended over allegations of unethical conduct.


Nuru was in December 2020 enmeshed in a marriage scandal with Moyo Thomas, one of the bank’s former female staff members. 

Tunde Thomas, the husband of the woman in contention, had died on December 16 reportedly from depression and cardiac arrest.


Thomas reportedly died of depression after he realised that his two children were allegedly fathered by the bank MD.

However, the bank in a statement on January 1, 2021 said it was aware of the allegations making the rounds against Nuru.


FCMB Group Head, Corporate Affairs, Diran Olojo, said the bank’s board of directors had already commenced a review into the matter, adding that its findings would be disclosed in due course.


“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,” the statement said.


“While this is a personal matter, the tragedy of the death of Mr Tunde Thomas and the allegations of unethical conduct require the bank’s board to conduct a review of what transpired, any violations of our code of ethics and the adequacy of this code of ethics.


“This is already under way. During the period of the review, the managing director has volunteered to proceed on leave. This will guarantee the sanctity of the review process.”

And indeed, on Wednesday, January 6, FCMB issued a press release stating that Mrs. Yemisi Edun would be acting as the Managing Director of the bank in the interim period while Mr Adam Nuru was on leave.


The bank stated that it was in line with normal corporate practices.


“In line with normal corporate practice, Mrs Yemisi Edun is Acting as the Managing Director of FCMB in the interim period while Mr Adam Nuru is on leave,” the statement read.


However, some friends of the late Tunde Thomas suspected that the embattled Managing Director might have been quietly returned to office.


A check on FCMB website ( on Friday, April 23 showed that Nuhu was listed as the Managing Director of the bank while Edun was listed as the Executive Director, Finance.


When contacted by SaharaReporters to ask if Nuhu has been reinstated and if the bank had concluded its investigation against Nuru about four months after it commenced, FCMB’s spokesperson, Olojo said the bank was still reviewing the allegations of unethical conduct against him.


“My response on this same issue on the 10th of March is still valid. Resent below: We will announce the requisite updates when we are through. That process is still ongoing,” he said.

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