Key points
- Nova Bank appoints Jude Anele as MD/CEO following CBN approval
- Bank completes recapitalisation ahead of March 31, 2026 deadline
- Eight new branches planned across key commercial hubs in 2026
Main story
Nova Bank Limited has announced the appointment of Jude Anele as its Managing Director and Chief Executive Officer, following approval from the Central Bank of Nigeria.
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 and commercial banking, corporate banking, risk management, institutional transformation and executive leadership.
Capital position and expansion plans
Nova Bank confirmed that it has met the recapitalisation 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, 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-term 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.
Strategic direction
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.
What’s being said
Jude Anele, Managing Director/CEO, Nova Bank Limited:
“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, Nova Bank Limited:
“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 recapitalisation completed ahead of the regulatory timeline, the bank is entering a new phase defined by scale, stability and structured expansion.”
Company profile
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.
The bottom line
With a new CEO, strengthened capital position and aggressive expansion plans, Nova Bank is positioning itself for growth in Nigeria’s recapitalised banking sector while maintaining regulatory compliance and financial stability.
