NOVA Bank Limited has announced the appointment of Jude Anele as its Managing Director and Chief Executive Officer, following the approval of the Central Bank of Nigeria.

Jude Anele

The appointment comes at a pivotal moment in the Bank’s evolution, following its transition from merchant banking to commercial banking and the successful completion of its recapitalisation programme ahead of the March 31, 2026, regulatory deadline.

Anele brings more than 33 years of banking experience across West and Central Africa, with deep expertise in retail / commercial banking, corporate banking, risk management, institutional transformation and executive leadership.

Over the course of his career, he has led complex banking operations, strengthened governance frameworks, delivered sustainable revenue growth and built high-performance teams.

The appointment reflects the Board’s strategic commitment to consolidating NOVA Bank’s commercial banking platform while accelerating growth across its Corporate, Commercial and Retail segments, as well as priority markets.

Speaking on his appointment, Anele said he was honoured to assume leadership of the Bank at a defining stage of its growth.
“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,” he said.

The Bank’s Chairman, Phillips Oduoza, also expressed confidence in the new leadership.

“The Board is pleased to welcome Mr. Jude Anele as Managing Director and Chief Executive Officer. His depth of experience, strategic clarity and proven leadership record align strongly with NOVA Bank’s growth ambitions,” Oduoza said.

He added that with recapitalization completed ahead of the regulatory timeline, the Bank is entering a new phase defined by scale, stability and structured expansion.

NOVA Bank also confirmed that it has met the recapitalization requirements set by the Central Bank of Nigeria ahead of the regulatory deadline, reinforcing its capital adequacy and long-term financial stability.

The capital raise, supported by new and existing shareholders, further strengthens the Bank’s balance sheet and positions it for disciplined growth.

In 2025, Global Credit Rating reaffirmed NOVA Commercial Bank’s national scale long- and short-term issuer ratings of BBB(NG) and A3(NG) respectively, while Agusto & Co. reaffirmed the Bank’s “Bbb” rating with a stable outlook, reflecting its strong capital base, sound liquidity position and resilient asset quality relative to its risk profile.

NOVA Bank currently maintains operations in Lagos, Abuja, Owerri and Port Harcourt, with plans to open eight additional branches across key commercial hubs in 2026 as part of its expansion strategy.

The commissioning of the Bank’s regional office in Owerri marked a significant milestone in its South-East and South-South growth strategy.

The event attracted government officials’ business leaders and Nigerians in diaspora and underscored NOVA Bank’s commitment to supporting enterprise development and economic growth.

NOVA Bank Limited is a commercial bank licensed and regulated by the Central Bank of Nigeria. Commencing operations in 2018 as a merchant bank, the institution transitioned to a commercial bank in 2024 and provides retail, SME, corporate and commercial banking services through its Phygital model—an integrated approach combining physical branch presence with digital banking infrastructure.

Central Bank of Nigeria (CBN) has asked commercial banks to restrict loan defaulters, specifically large-ticket obligors, from accessing credit facilities.

A large ticket obligor is a borrower (an individual or company) that owes a very large amount of money to a bank.

The directive is coming a week after the CBN asked financial institutions to stress test.

It is uncertain if the two directives are connected or what may have triggered the loan-related instruction, but the apex bank said it furthers its mandate to protect Nigeria’s financial system.

“In furtherance of its mandate to promote a sound financial system, protect depositors, and enhance prudential compliance within the banking sector, the Central Bank of Nigeria (CBN) hereby directs all banks to restrict non-performing large ticket obligors, whose activities pose systemic risk to the financial system, from accessing specified banking services,” the circular reads in part.

“Any large-ticket obligor with a non-performing facility recorded in the CRMS and/or any licensed private credit bureau shall not be granted additional credit facilities. For the purpose of this restriction, credit facilities include loans and other forms of direct credit.

“In addition, such obligors shall not be granted banking facilities or contingent liabilities such as bankers’ confirmations, letters of credit, performance bonds, or advance payment guarantees.”

On strengthening collateral coverage, the CBN asked financial institutions to obtain additional realisable collateral from such obligors to adequately secure existing exposures.

The CBN said large ticket obligors are borrowers whose exposures are as defined under Clause 3.2 (d) of the prudential guidelines for deposit money banks in Nigeria 2010, or a customer with a combined exposure across banks, as shown in the credit risk management system (CRMS), and/or as shown in the reports of a licensed private credit bureau, “that exceed the Single Obligor Limit (SOL), which materially affect a bank’s Capital Adequacy Ratio (CAR) or otherwise pose a systemic risk to the financial system”.

“This directive reinforces earlier measures, particularly the circular titled “Prohibition of Loan Defaulters from Further Access to Credit Facilities in the Banking System” issued on June 30, 2014 (Ref: BSD/DIR/GEN/LAB/07/015). This is to ensure consistency and effectiveness in curbing credit abuse by large-ticket obligors,” the circular further reads.

The regulator said it will monitor compliance with the directive to ensure consistent implementation across the banking industry.

The CBN warned that noncompliance would attract appropriate regulatory sanctions in line with the provisions of the Banks and Other Financial Institutions Act (BOFIA) 2020.

Nigerian banks are undergoing a recapitalisation programme, slated to end by March 31.

So far, about 30 banks have met the minimum capital requirements announced in March 2024.

United Bank for Africa (UBA) Plc, Africa’s Global Bank, on Thursday, hosted a captivating edition of its quarterly Business Series, bringing together accomplished female leaders and entrepreneurs to discuss the theme “Gen.W: The Evolved Woman.”

L-r: Media Personality, Tobi Bakre; Head, Retail Products, United Bank for Africa (UBA), Tomiwa Sotiloye; Group Head, Customer Experience, UBA, Michelle Nwoga; Entrepreneur, Fine Funky, Olufunke Davies(fine Funky); Founder, ORIKI, Joycee Awosika; Group Head, Brands, Marketing & Corporation, UBA, Alero Ladipo; Renowned broadcaster, Arise TV, Ayo Mairo-Ese; Head, Remittances, UBA, Uzoamaka Oyeka, Media Personality, Tomike Adeoye, and Executive Director Designate, Digital Banking, UBA, Emmanuel Lamptey, during the UBA Business Series, themed, “Introducing gen.w – The Evolved Woman,” which was held at the UBA House in Lagos, on Thursday.

The hybrid session which was held at the UBA House in Marina Lagos and also transmitted live to participants across the globe, is part of activities to mark the International Women’s Month and focused on the evolving role of women in leadership, business, and innovation, highlighting how African women are redefining success while also creating sustainable impact across their various spheres of operation.

UBA’s Group Head, Customer Experience, Michelle Nwoga, who gave the opening remarks at the event, explained that the evolved woman is one who is taking charge, volunteering and making their voice heard above the noise.

The event was moderated by popular media personality and actor, Tobi Bakre; who said, “When I think about the evolved woman, I personally do not see a checklist or a finish point. In my own opinion, it is a woman who is grounded in her own self-worth and gives room for other women to be grounded in theirs, choosing herself daily and ultimately letting other women around her know and believe that they belong here too.”

The event featured panel conversations with leading entrepreneur and founder of ORÍKÌ Group, Joycee Awosika; celebrated media personality and digital entrepreneur Tomike Adeoye; founder of Fine-Funky, Olufunke Davies, and award-winning broadcaster, Ayo Mario-Ese who shared experiences around their struggles and eventual evolution as female business owners.

From her point of view, Joycee Awosika, an energy economist who has been focused on promoting the African heritage, the evolved woman is one who has awareness of who she is. “That woman does not need to ask to sit at the table, she is creating her own table and adding value. As your company is growing, you must grow too, and always do an audit of where you need to become a better leader” she stated.

To Tomike Adeoye, the question of what a woman is bringing to the table has now become obsolete, as the evolved woman is now bringing their own table. “She is now more vocal about their struggles, setting the standards and she is not ready to give up on her dreams,” she added.

Ayo Mario-Ese expressed worry about females who are usually laidback about speaking up and sharing their achievements, and said that women need to own their own stories: “A lot of women are doing phenomenal work and are sometimes afraid of showcasing what they are doing. As an evolved woman, you have to find out what you are comfortable doing, and create your own unique offering, and also be open to collaboration.”

“Creating unique designs that are affordable remains my driving force and something that has helped me grow as an evolved woman,” remarked Olufunke Davies, who confessed to having ventured into a lot of businesses before finding her niche. “It is important to do your research, streamline and think about relatability. But the important thing I will say is start where you are as it is a progression.”

The Group Head, Brand, Marketing and Corporate Communications, Alero Ladipo, who commended the panellists and the attendees for taking their time to join the event said, “Raising each woman up is actually not that hard; because, everyone has their community as well as their story; and so as women, we need to take position so that you can give to others.”

Ladipo took time to speak about the Gen W platform, put together by the bank, as she explained that it is a lifestyle platform dedicated to the evolved woman, adding, “Through expert insights, real stories, and practical resources, the platform connects women who are building brands, creating businesses, growing careers, and leading across industries.

“They also have access to a plethora of discounted products and loans. The best part: it is open to every woman. No UBA account needed. This is Gen W, for the evolved woman,” she said.

UBA continues to reaffirm its commitment to empowering women and entrepreneurs through platforms such as the Business Series, which continues to serve as a hub for mentorship, knowledge exchange, and thought leadership. By convening influential voices and sharing practical experiences, the bank aims to inspire a new generation of women leaders and innovators across Africa and beyond.