TheCable

NOVA Merchant Bank has announced the appointment of Emmanuel Onokpasa as executive director, wholesale bank and treasury.

In a recent statement, NOVA said the Central Bank of Nigeria (CBN) approved the appointment of Onokpasa.

In the new role, he will supervise its corporate and commercial banking, including energy, power, telecoms, products/channels, digital banking, treasury, correspondent banking and financial institutions.

Onokpasa is said to have about 30 years of experience in financial services such as 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.

According to the statement, he has served as group treasurer and head of global financial institutions and structured finance in leading banks in Nigeria and oversight of African countries.

Commenting on the appointment, Nathan Ude, the bank’s managing director/chief executive officer, said, “Emmanuel’s appointment is a welcome development aimed at deepening the management and will further enable us to drive our overarching philosophy of ‘New Thinking, New Opportunities’.

“The Bank will continue to engage competent and distinguished staff at all levels towards the realisation of her vision further.”

Onokpasa holds a Bachelor’s degree in accounting from the University of Benin, and he is an alumnus of Harvard Business School and Lagos Business School.

He has several professional qualifications, such as a fellow of the Institute of Chartered Accountants of Nigeria (FCA), member of the Chartered Institute for Securities and Investment UK (MCSI), and an honorary senior member of the Chartered Institute of Bankers (HCIB).

In July, the bank shareholders approved N800 million as dividend for 2020 following its financial performance of N3.49 billion profit (112 percent increase) compared to the previous year.

The Bank is currently playing an active role in bridging Nigeria’s infrastructural gaps by matching funds with long term investments.