Board of Directors

Phillips Oduoza with about 30 years banking experience in major financial institutions, is the founder and Chairman of the board of Nova Merchant Bank Limited. Mr. Oduoza is an internationally recognized and accomplished banker with diverse knowledge and experience in commercial and corporate banking.

Prior to promoting Nova, he recently retired as the global CEO of UBA Group where he firmly established the Bank as a leading African Financial Institution with global brand recognition. Mr. Oduoza was part of a small team that pioneered and established Diamond Bank Plc as one of the most successful and innovative banks in the early 90’s. He supervised/led many breakthrough financial products and initiatives of Diamond Bank. As a result, he rose rapidly to the position of Executive Director in 1999. Phillips Oduoza started his banking career in 1989 with Citibank as the first set of Executive Trainees where he trained in every aspect of banking after a brief stint with International Merchant Bank (IMB).

Mr. Oduoza has thorough knowledge of the Nigerian (indeed African/global) banking environment and what it takes to pioneer and run a very successful/sustainable financial institution. He has initiated and led many key successful financial transactions in infrastructure, agriculture, manufacturing, telecommunication, energy, technology projects, financial advisory, oil & gas, corporate finance, capital market activities and debt restructuring in Nigeria and across Africa. He has been involved in some of the key banking industry transformational initiatives, having led the Bankers Committee sub-committee on Payment Systems and Infrastructure that drove the BVN implementation and Electronic Payment System of Nigeria (Card, ATM, POS, Online transfers, etc).

Phillips Oduoza has served on the board of some key names such as Diamond Bank Plc, Interswitch Plc, Valuecard Plc (Unified Payment Services Plc) where he served as chairman, Nigeria Interbank Settlement System (NIBSS), Nigeria Payment System, Nigeria Economic Summit Group (NESG), Financial Markets and Dealers Quotations (FMDQ), UBA Capital, UBA Plc. He currently serves on the boards of Veritas University Abuja, Lagos State Security Trust Fund, Development Bank of Nigeria amongst others.

Mr. Oduoza is a Fellow of the Chartered Institute of Bankers (FCIB). He has a BSc. Hons with First Class in Civil Engineering, an MBA (Finance), and is an alumnus (AMP) of Harvard Business School. He has been honoured with numerous awards of achievement both locally and internationally such as Africa CEO of the year New York (2013 and 2014). He meets and interacts with numerous people and business leaders in the corporate sector, diplomatic corps, entrepreneurship and professional services sectors, amongst many other sectors.

Nath Ude is the Chief Executive Officer/Managing Director of NOVA Merchant Bank Limited. Preceding this appointment, he was the Deputy Managing Director of the Bank

Mr. Ude is a seasoned Banker whose experience cuts across three continents in world class financial institutions. He has held several senior banking positions internationally and in Nigeria including Executive Director First City Monument Bank (FCMB) and recently Executive Director Union Bank from where he joined NOVA. He started his banking career over 28 years ago with Citibank.

Mr. Ude was a Non- Executive Director of NIBSS and is an Honorary Senior Member of the Chartered Institute of Bankers of Nigeria (CIBN). He is widely regarded as a reliable and trusted motivator, a mentor with highly effective and result-oriented leadership, analytical mindset in addition to being business focused. His expertise lies in the development and management of complex processes and services, as well as in designing system and structural efficiencies that drive higher productivity, better customer and employee satisfaction and maximum stakeholder value.

Mr. Ude has a BSc in Finance, Masters in Business Administration, numerous professional qualifications and attended various leadership programs at globally renowned institutions.

Shams Butt is a highly accomplished banker with over 25 years experience working in senior positions at some of the largest financial institutions in the world and serves as a Non-Executive Director at Nova Merchant Bank Limited.

Mr. Butt’s banking experience covers a wide range of areas including Investment Banking, Risk Management, Compliance, Treasury, Ratings Advisory and Private Banking. He has a strong track record and deep expertise in executing projects in emerging markets and was a Managing Director at Citigroup in London where he served as the Head Sub Saharan Coverage for Citi’s Investment Bank in addition to to being the Head of Europe Middle East & Africa (EMEA) at the Citi Financial Strategy Group. He has also had stints working at Citibank’s offices in Tokyo, Bahrain and Pakistan.

In addition, Mr Butt was a Director at Deutsche Bank in New York where he served as the Head Risk and Compliance at Deutsche Bank Advisors LLC.

A British citizen and based in Dubai, Mr Butt is currently an Advisor at African Industries (a global name in steel, manufacturing, aluminium products and building materials across three continents) where he manages the group’s investment activities, oversees real estate development projects and is responsible for all M&A, execution of transactions and joint ventures.

Mr. Butt has a Masters of Business Administration (MBA)and Bachelors of Business Administration both from George Washington University, Washington DC.

Chief Malachy Nwaiwu recently retired in the Executive Cadre of the Central Bank of Nigeria (CBN) where he worked for 35 years and is an Independent Director of Nova Merchant Bank Limited.

During his time at CBN, he pioneered many initiatives and worked in a wide range of areas covering currency & branch operations, development finance, human resources and information technology. He was a member and the Secretary of the Committee that handled the design, printing and launching of the N1000 banknote denomination for the Bank. Chief Nwaiwu served on several committees in CBN that developed various initiatives in the transformation of the Bank and was in charge of Service Delivery Improvement Initiatives for the branches of the Bank prior to retirement.

Chief Nwaiwu possesses a Master of Business Administration (Management and Finance) from the University of Lagos, a B.Sc. Agricultural Economics from the University of Ibadan and a Bachelor of Laws from the University of Abuja. He is a member of the Nigerian Institute of Management and the Association of Management and Administration (AMA) USA. He is currently an Attorney in the Law firm of Chukwuma-Machukwu Ume SAN  (Firm of Lawyers & Arbitrators)

Ayodeji Adigun is the Executive Director / Chief Operating Officer and member of the board at Nova Merchant Bank Limited. He has over 30 years of banking and finance experience with strong background and competencies in financial control, performance management, project management, operations, technology, human resources, audit, strategic planning and business transformation.

Prior to his current role, he was the Chief of Staff to the GMD/CEO at the United Bank for Africa Plc (UBA). He also served at various times as the Head, Strategy and Business Transformation, the Chief Financial Officer (North Region), Chief Operating Officer, UBA Properties and Head, Performance Management during his time at UBA.

Mr. Adigun has served in several executive roles in the banking industry including the Chief Finance Officer , Head Corporate Development Standard Trust Bank as well as  Head Financial Control Diamond Bank Plc, in addition to the Head Corporate Planning & Development and Head Financial Control at NAL Merchant Bank. In the course of his banking career, Mr. Adigun has extensively played a key role in the conception and deployment of turnaround strategies for business segments/units,  initiated several cost optimization measures that resulted in appreciable reduction in cost-to-income ratio, has been deeply involved in the articulation, review and co-ordination of organizational polices in order to facilitate the decision making process, improve operational efficiency and enhance productivity. Furthermore, he has spear-headed the design and implementation of budgetary control systems, performance management systems and several new products.

Prior to joining the banking industry, he worked at Ernst & Young as an Audit Senior after a brief stint as an Assistant Lecturer at the University of Lagos.

Mr. Adigun possesses a B.Sc. Hons in Accounting (First Class) from the University of Lagos. He is a Fellow of the Institute of Chartered Accountants of Nigeria, an Associate Member of the Chartered Institute of Management Accountants UK and an Associate Member of the Chartered Institute of Taxation of Nigeria. He is also an alumnus of the Senior Management Programme at the Lagos Business School.

Chinedu is a top-level finance, banking and capital market professional with several years experience in the banking industry and capital markets.

He worked with UBA, Fidelity Bank and Diamond Bank rising to a General Manager position before assuming the role of MD/CEO of Diamond Mortgages Ltd.

An astute ex banker with decades of cognate experience in commercial and mortgage banking. He is an entrepreneur with solid Capital Markets experience, having served on the Boards of CSCS, Diamond Securities Ltd and To mil Trust Ltd at various times and a one-time authorized dealing clerk of the Nigerian Stock Exchange.

Chinedu has attended several courses locally and internationally

Funmi Oyetunji is an accomplished professional with about 40years of corporate experience gathered across several roles of diverse disciplines and industries. She has held senior roles in a leading audit and accounting firm in Nigeria in the 1980s before going to work in consulting at KPMG’s London office for 5 years where she acquired experience in business advisory and banking supervision as a Manager.

She spent 10 years in banking, culminating in her role as the Group Treasurer of First Bank Plc where she was responsible for several pioneering feats in the Bank’s Treasury and International Banking Operations. Mrs. Oyetunji has since 2002 operated in the real estate development and investment space. She has grown Abitos Financial Services Ltd, a family investment company from scratch to a multi-million-dollar company.

She has served on the Board of various companies such as Ecobank Nigeria Ltd (Chairman, Risk Committee), American Tower Corporation, Nigeria (Chairman, Audit Committee) and Prestige Insurance Plc. (Chairman, Audit Committee). She has participated in several board development courses at Harvard, INSEAD and IMT among others

She founded the LASAL Foundation that promotes social mobility through scholarships grants to indigent students in leading Nigerian universities.  She has taught business leadership, finance and accounting at the Lagos Business School and authored a book; “A Conscious Life: Navigating Critical Stages and Aspects of Life Successfully”.

Gbemisola Laditan is a prize-winning chartered accountant with over thirty years experience in banking, financial control, consultancy, management accounting, taxation, operations, corporate finance, private equity, SME capacity building, marketing, credit and audit.

Mrs.  Laditan is currently the CEO of Flux Logistix Limited and also serves as an Executive Director in the Superflux Group of Companies which include Superflux International Limited, CourierPlus Services Limited and Papyrus Investments Limited.

She had previously worked in United Bank for Africa Plc for 14 years where she rose through the ranks to occupy various positions such as Head Subsidiaries Coordination, Head Portfolio Management, Acting Managing Director UBA Private Equity Ltd, Head Investments, Tax and Insurance Management.

She has a Master of Business Administration (MBA) degree from the prestigious Obafemi Awolowo University and is a fellow of the Institute of Chartered Accountants of Nigeria (ICAN), member of the Chartered Institute of Taxation of Nigeria (CITN), member of the Financial Reporting Council and a holder of the International Financial Reporting Standards (IFRS) Diploma of the Association of Chartered and Certified Accountants (ACCA).

Funke Okoya is the Executive Director-Investment Bank of NOVA Merchant Bank where she is responsible for the growth and oversight of the Bank’s subsidiaries comprising Asset Management, Securities Trading, Public Sector Group and Investment Banking. During her time at the Bank, she has been responsible for Business Development for Corporate Banking, Energy Bank, Products/Channels and Digital Banking. She has over 22 years experience covering Corporate and Investment Banking, Commercial Banking, Credit and Risk Management, Operations, Customer Services, Technology, Project Management, Branding, Strategy and Communications.

Prior to joining the Bank, she was the Director, Client Origination and Coverage of Emerging Africa Capital Group and served as the Group Head Corporate Banking at Coronation Merchant Bank. She was a Regional Bank Head, Commercial Banking Group at Access Bank Plc and a pioneer business manager of two branches at the United Bank for Africa Plc. She started her career in Risk Management and Commercial Banking Group at Ecobank Nigeria Plc.

Funke Okoya is a Business Administration graduate of the University of Lagos and holds an MBA from Business School Netherlands. She is an alumnus of INSEAD Business School where she attended its Advanced Corporate Finance Programme. She is a certified Fellow and council member of the Association of Investment Advisers and Portfolio Managers.

Mr Emmanuel Onokpasa is the Executive Director, Wholesale Bank and Treasury of NOVA Merchant Bank Limited with oversight over Corporate Banking, Commercial Banking including Energy, Power, Telecoms, Products/Channels, Digital Banking, Treasury, Correspondent Banking and Financial Institutions.

He is a seasoned financial services practitioner with about three decades of experience spanning operating multi-currency balance sheets, foreign exchange risk hedges and trading, fixed income securities, structured trade and finance, debt raising, international trade, wholesale banking, business strategy, operations, auditing and consulting.

Mr Onokpasa has served as Group Treasurer and Head of Global Financial Institutions & Structured Finance in leading banks including United Bank for Africa and Diamond Bank. He is reputed for his astute professionalism, strong leadership, execution and innovation.

He holds a Bachelor’s degree in Accounting from the University of Benin. He is a Fellow of the Institute of Chartered Accountants of Nigeria (FCA), Member of the Chartered Institute for Securities and Investment UK (MCSI), Fellow of the Institute of Credit Administration, Member of the Chartered Institute of Taxation of Nigeria and Honorary Senior Member of the Chartered Institute of Bankers (HCIB). He is also an alumnus of the Harvard Business School, the Lagos Business School and Member, Institute of Directors UK (MIoD).