Jude Anele has been appointed managing director and chief executive officer of NOVA Bank Limited, following regulatory approval from the Central Bank of Nigeria (CBN), the bank confirmed in a recent statement.
The leadership change comes at a major stage in the lender’s transformation after it transitioned from merchant banking to full commercial banking and completed its recapitalisation programme ahead of the March 31, 2026 regulatory deadline.
Anele brings more than three decades of banking experience across West and Central Africa, spanning retail and commercial banking, corporate banking, risk management and institutional transformation. Over his career, he has overseen complex banking operations, strengthened governance structures and delivered revenue growth while building high-performance teams.
The bank said the appointment reflects its strategy to consolidate its commercial banking platform while accelerating expansion across corporate, commercial and retail banking segments.
“Nova Bank has built a strong institutional foundation defined by regulatory compliance, capital strength, disciplined governance and a clear commercial mandate. Our focus now is execution — deepening customer relationships, expanding responsibly across priority markets, strengthening risk discipline and delivering sustainable value to our shareholders,” Anele stated.
Chairman Phillips Oduoza said the board was confident the new chief executive would steer the lender through its next growth phase.
“His depth of experience, strategic clarity and proven leadership record align strongly with NOVA Bank’s growth ambitions,” Oduoza said, noting that the bank’s recapitalisation had been completed ahead of the regulatory timeline, positioning the institution for scale, stability and structured expansion.
The lender also confirmed it had met the recapitalisation threshold set by the CBN, strengthening its capital base and balance sheet as it prepares for further expansion.
Credit ratings agencies have maintained stable outlooks on the bank. In 2025, Global Credit Rating reaffirmed the bank’s national scale long- and short-term issuer ratings of BBB(NG) and A3(NG) respectively, while Agusto & Co. maintained its “Bbb” rating with a stable outlook, citing strong capitalisation, sound liquidity and resilient asset quality.
NOVA Bank currently operates in Lagos, Abuja, Owerri and Port Harcourt and plans to open eight additional branches across key commercial hubs in 2026 as part of its expansion strategy.
The commissioning of its regional office in Owerri marked a milestone in the bank’s South-East and South-South growth push, drawing government officials, business leaders and members of the Nigerian diaspora.
Licensed by the Central Bank of Nigeria, NOVA Bank began operations in 2018 as a merchant bank before transitioning to commercial banking in 2024. The lender offers retail, SME, corporate and commercial banking services through a “phygital” model that integrates physical branch networks with digital banking platforms.
