NOVA Merchant Bank appoints acting managing director, CEO

NOVA Merchant Bank Limited has announced the appointment of Anya Duroha as acting managing director following the exit of Chinedu Ikwudinma, the erstwhile managing director.

The appointment, which is subject to approval of the Central Bank of Nigeria, became effective August 30, 2018.

Prior to the appointment of Duroha as the acting managing director / chief executive officer of the bank, he was executive director, wholesale bank, responsible for development and management of the bank’s corporate banking relationships.

Phillips Oduoza, chairman of the bank in a memo to all staff said: “Duroha’s appointment marks the start of an exciting growth phase in the bank’s business, following the go live of its Intellect Digital Core (IDC) banking platform as the Bank begins to leverage the benefits of its investment to deliver innovative solutions for its customers.”

Prior to joining the bank as a pioneer staff, Duroha was head, business banking at StanbicIBTC, where he was responsible for commercial banking and SME businesses in Nigeria. In that role, he had the responsibility for both relationship and portfolio management. In this capacity, he designed and implemented interventions and strategies that ensured the rapid growth and profitability of the business.

He started his banking career in banking operations in Citibank and has 25 years banking experience spanning across many areas of banking. He was the head corporate banking, United Bank for Africa Plc.; Head corporate banking, Diamond Bank Plc. and head of business development (Designate), Diamond Bank, United Kingdom. In all these roles, he has managed portfolios in various sectors including manufacturing, agriculture, construction, oil & gas, infrastructure, aviation, power, maritime, telecommunications, FMCG and structured trade finance.

Duroha holds an M.Sc. in Banking & Finance from the University of Benin and a B.Eng. in Civil Engineering from the University of Nigeria, Nsukka. He is an alumnus of Wharton Business School, University of Pennsylvania and Lagos Business School.