Nova Merchant Bank Appoints Duroha MD/CEO

Nova Merchant Bank Appoints Duroha MD/CEO

Nova Merchant Bank Limited has announced the appointment of Mr. Anya Duroha as the acting Managing Director / Chief Executive Officer of the bank.

The appointment followed the exit of the erstwhile chief executive, Mr. Chinedu Ikwudinma, who decided to pursue another endeavour.

While the bank in a statement, wished Ikwudinma success in his new engagement, it explained that Duroha’s appointment, which is subject to the approval of the Central Bank of Nigeria, became effective on August 30th 2018.

Prior to the appointment of Duroha as the acting CEO of the bank, he was the Executive Director, Wholesale Bank, responsible for development and management of the bank’s corporate banking relationships.

Speaking on the new appointment, the Chairman of the bank, Mr. Phillips Oduoza in a memo to all staff said: “Mr. 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, he was the Head, Business Banking at Stanbic IBTC, 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.

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