Nova Bank Limited has appointed Jude Anele as its Managing Director and Chief Executive Officer, following approval from the Central Bank of Nigeria (CBN).
The bank announced the appointment in a statement, saying the leadership change comes as it transitions from merchant banking to full commercial banking operations and after completing a recapitalisation programme ahead of the CBN’s March 31, 2026, regulatory deadline.
Anele brings more than three decades of experience in banking across West and Central Africa, with expertise spanning retail and commercial banking, corporate banking, risk management and executive leadership. The bank said his role will include overseeing the next phase of its growth as it expands services across corporate, commercial and retail banking segments.
Speaking on his appointment, Anele said: “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.”
The chairman of the bank, Phillips Oduoza, said the board expects the new chief executive to guide the bank through its next phase of expansion.
“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.
The bank also confirmed that it has met the recapitalisation requirements set by the CBN ahead of the regulatory deadline. According to the statement, the capital raise was supported by both new and existing shareholders and is expected to strengthen the bank’s balance sheet and support future expansion.
Nigeria’s banking sector has been undergoing regulatory changes aimed at strengthening capital buffers and improving financial stability. The recapitalisation exercise requires banks to increase their capital base to support lending capacity and economic growth.
Nova Bank said it currently operates in Lagos, Abuja, Owerri and Port Harcourt and plans to open eight additional branches across key commercial centres in 2026.
The bank also highlighted the commissioning of its regional office in Owerri as part of its strategy to expand in Nigeria’s South-East and South-South regions.
Established in 2018 as a merchant bank, Nova Bank transitioned to a commercial banking licence in 2024. The bank provides retail, SME, corporate and commercial banking services through what it describes as a “phygital” model, combining physical branch operations with digital banking platforms.
