Acting MD Iloghalu Tells Chairman Oduoza’s Master Plan For NOVA Bank

Chinwe Iloghalu, the acting managing director at NOVA Bank, which has firmly planted itself among elite financial institutions this year, has disclosed the master plan for what is being described as the new big thing in the nation’s economy.

The vision for the bank, as envisioned by Chairman Phillips Oduoza, is to become the preferred financial institution in Africa, delivering cutting-edge, superior financial services and products, Iloghalu revealed recently.

“It is often said that it takes a team to make a dream work, and that dream of making NOVA the preferred financial institution in Africa, delivering cutting-edge, superior financial services and products, has been meticulously put together by our Chairman, Mr. Phillips Oduoza, and we do not take it for granted,” the Managing Director remarked at the financial institution’s curtain-closer on a landmark year.

The event, an end-of-the-year appreciation party, was hosted by Chairman Oduoza for stakeholders on December 14, 2024.

Iloghalu, speaking on behalf of the management, went on to assure the Chairman and NOVA Bank’s stakeholders that, “We do not take it for granted, and we are going to ensure that we deliver on that dream and make it a reality. We are well on our way to doing that.”

The Managing Director’s assertion that NOVA Bank is on track to achieving the Chairman’s vision is supported by the significant milestones recorded during the outgoing year.

Among these achievements, NOVA Bank began full national commercial banking operations in July 2024, building on a five-year domination of the merchant banking space, where it excelled through specialized services to high-net-worth individuals and corporate clients.

Its entry into the retail banking space was announced with the pivotal Phygital Model, which combines physical branches and digital platforms to serve customers seamlessly across various locations.

NOVA Bank’s Phygital model officially launched with the opening of a state-of-the-art office on Kofo Abayomi Street, Victoria Island, Lagos.

The ceremony, conducted on Tuesday, July 16, 2024, by the Governor of Lagos State, Babajide Sanwo-Olu, highlighted the bank’s innovation and the multi-talented skills within the institution, which are driving employment opportunities and related benefits as it expands operations across the country.

In addition to this, the bank attained the globally recognized ISO 27032 Cybersecurity Standard Certification in November 2024.

Amid these achievements, industry experts insist that one of the most telling indicators of NOVA Bank’s success is the strong confidence recently displayed by FBN Holdings in its leadership.

The holding company, which owns Nigeria’s oldest and one of the most established banks, lured NOVA Bank’s immediate past Chief Executive Officer, Wale Oyedeji, to spearhead its new five-year strategic plan, hinged on stronger corporate governance and sustained focus.

“That development speaks volumes about the level of interest NOVA Bank’s unceasing growth is attracting. It shows that the managers of the bank are not only on the right track but are delivering the kind of performance many aspire to,” an observer remarked.

Oyedeji’s departure paved the way for Iloghalu’s tenure to continue executing the master plan that is yielding results many financial institutions dream of.