First City Monument Bank on Tuesday announced the appointment of a new Managing Director, Ms Yemisi Edun.
She was confirmed the substantive Managing Director having been in an acting capacity since the alleged scandal involving the former boss of the bank, Mr Adam Nuru.
Nuhu was caught amidst a paternity scandal of alleged affairs with a staff of the bank, Mrs Moyo Thomas.
Moyo’s husband, Mr Tunde Thomas had died of heart failure after which news went viral that he died after he was told that he was not the father of his three children but Mr Nuru.
To allow for investigation, Mr Nuru had stepped aside while Edun, then Executive Director/Chief Financial Officer took over.
The bank however said on Tuesday that Edun’s appointment did not mean that Mr Nuru had been found guilty of the allegations.
It said that his services to the bank had come to an end.