NOVA Bank Limited has appointed Jude Anele as its managing director and chief executive officer, following approval from the Central Bank of Nigeria.
The move comes after NOVA Bank’s successful recapitalization program and its transition from a merchant bank to a full-fledged commercial bank, ahead of the March 31, 2026 regulatory deadline.
Anele brings over 33 years of banking experience across West and Central Africa, with expertise in retail and commercial banking, corporate banking, risk management, institutional transformation, and executive leadership.
The new chief executive of the bank has led complex banking operations, strengthened governance frameworks, delivered sustainable revenue growth, and built high-performance teams throughout his career.
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.”
Phillips Oduoza, chairman of NOVA Bank, expressed confidence in the new leadership.
According t0 him “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.
“With recapitalization completed ahead of the regulatory timeline, the Bank is entering a new phase defined by scale, stability and structured expansion.”
NOVA Bank confirmed that it has met the recapitalization requirements set by the Central Bank of Nigeria, reinforcing its capital adequacy and long-term financial stability.
The capital raise, supported by new and existing shareholders, positions the Bank 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.
Currently, NOVA Bank operates in Lagos, Abuja, Owerri, and Port Harcourt, with plans to open eight additional branches across key commercial hubs in 2026.
Founded in 2018 as a merchant bank, NOVA Bank transitioned to a commercial bank in 2024.
