By Josfyn Uba and Bianca Iboma-Emefu
In a country where opportunity and success were once dominated by men, a new era is dawned upon Nigeria’s financial sector. The resolute emergence of female bank CEOs is reshaping the once male-dominated landscape, ushering in a wave of gender equality and empowerment. These trailblazing women have shattered not only glass ceilings but also societal norms, proving their worth in a field long considered a man’s domain.
Set against the backdrop of Nigeria’s evolving corporate culture, Daily Sun X-Rays the remarkable journey of these women, each driven by ambition, determination, and a burning desire to challenge the status quo. From the bustling streets of Lagos to the soaring executive boardrooms, their path to the top is strewn with obstacles, skepticism, and preconceived notions about gender roles.
At the heart of this transformation are several brilliant egg heads armed with unwavering determination and an unyielding belief in their abilities, set out to conquer the seemingly insurmountable barriers obstructing women’s progress in the banking industry. Their journey represents the aspirations and struggles faced by countless women across the nation.
These charismatic and seasoned bankers have blazed a trail of their own. They didn’t just pop up as boardroom gurus. They have pioneered generations of mentees and thus rose to become catalysts for a remarkable societal change as well as awaken the power and innate potential of Nigerian women in leadership roles
It is remarkable how they have become huge inspiration and success stories paving the way for the next generation of women, inspiring them to challenge boundaries, pursue their dreams, and create a more inclusive future.
Together, they navigate the corporate labyrinth, combating bias, prejudice, and entrenched power dynamics. Along their journey, they encounter like-minded women who have made great strides in their respective careers, these women challenge existing paradigms, redefining what it means to be a leader, regardless of gender.
Their captivating profiles not only shows collective resilience and determination to succeed but explores boundless potential of women across all sectors and signals a transformative shift, where gender is no longer a limitation but a driving force behind Nigeria’s economic growth and prosperity.
Daily Sun captures eleven of today’s leading female Chief Executive Officers who have changed the narrative in the Nigerian banking ecosystem
Dr Adaora Umeoji – Zenith Bank
Dr Adaora Umeoji parades a very rich academic resume. She was recently appointed as the new GMD/CEO of Zenith Bank, March 2024.
Dr. Umeoji assumed official capacity June 1, 2024, following the expiration of office of the current GMD, Dr Ebenezer Onyeagwu, on May 31, 2024.
Before this appointment, Umeoji was the Deputy Managing Director of the bank since October 28, 2016, and with nearly 30 years of banking experience of which 26 years has been with Zenith Bank. Umeoji is an alumnus of Harvard Business School, where she attended the Advanced Management Programme. She is an alumnus of Columbia Business School with a Certificate in the Global Banking Program.
She holds a bachelor’s degree in Sociology from the University of Jos, a Bachelor’s degree in accounting, and a first-class honours degree in law from Baze University, Abuja. She holds a Master of Laws from the University of Salford, United Kingdom, a Master in Business Administration from the University of Calabar, and also has a doctorate in business administration from Apollos University, USA.
Umeoji also holds a Certificate in Economics for Business from the prestigious MIT Sloan School of Management, USA, and has attended various management programmes in renowned Universities around the world including the strategic thinking and Management programme at Wharton Business School, USA. Umeoji boasts of close to 30 years of cognate banking experience of which 26 years have been with the Zenith Bank, to thrust the bank further into strategic innovations.
Nneka Onyeali-Ikpe – Fidelity Bank
Nneka Onyeali-Ikpe became the GMD/CEO of Fidelity Bank Plc in January 2021, becoming the first female to assume the position in the bank’s history. Nneka Onyeali-Ikpe holds a Bachelor of Law from the University of Nigeria, Nsukka, and a Master of Law from Kings College, London. She has attended executive training programs at various institutions including Harvard Business School, The Wharton School University of Pennsylvania, and London Business School, among other prestigious educational institutions.
She holds an honorary doctorate degree in Business Administration from the University of Nigeria, Nsukka (UNN). Onyeali-Ikpe began working in banking industry as a legal officer for the now-defunct African Continental Bank in 1990, and subsequently worked as a treasury officer for the First African Trust Bank. She later joined Zenith Bank and Standard Chartered Bank respectively. She joined Fidelity Bank as an executive director in January 2015 and has been passionate about innovation and technology spearheading initiatives such as PayGate Plus, an online payment platform, and the Fidelity International Trade & Creative Connect (FITCC) aimed at supporting Small and Medium Enterprise. Under her leadership, Fidelity Bank has continued to witness significant growth, increasing its Profit Before Tax (PBT) from N25.22bn in FY 2021 to N122bn in FY 2023.
Bolaji Agbede -ACCESS
Ms. Agbede is a versatile professional with over 27 years’ experience in Human Resources management, customer relationship management and banking operations. She has a proven record of successful people integration during mergers and acquisitions, culture transformation and execution of corporate strategies.
She commenced her professional career in Guaranty Trust Bank and served in various capacities including Relationship Manager and Vault Custodian. She diligently distinguished herself and swiftly rose from the grade of Executive Trainee in 1992 to Manager in 2001. Ms. Agbede subsequently served as the Chief Executive Officer of JKG limited in 2003 a business consulting outfit.
Ms. Agbede joined Access Bank in 2003 as an Assistant General Manager and was responsible for managing the Bank’s portfolio of chemical trading companies. She has occupied the role of Head, HR for the Access Bank Group since 2010 wherein she oversees the human capital development of the Group.
Ms. Agbede holds a bachelor’s degree in Mathematics and Statistics from the University of Lagos (1990) and subsequently obtained a Master of Business Administration degree from Cranfield University in 2002. She is a member of the Chartered Institute of Management UK and Chartered Institute of Personnel Management of Nigeria. She has attended several renowned leadership and professional development programs including the High-Performance Leadership Programme organised by the IMD and the Strategic Talent Management Programme organised by the London Business School.
Ireti Samuel-Ogbu – CitiBank
Ireti Samuel-Ogbu was named the MD/CEO of CitiBank in September 2020. She became the first female CEO of the bank in Nigeria. Before her appointment in 2020, she was the Europe, Middle East and Africa (EMEA) Head, Payments and Receivables, Treasury and Trade Solutions (TTS) under Citi’s Institutional Clients Group (ICG) based in London, the United Kingdom.
She holds a Bachelor of Arts in Accounting and Finance from Middlesex University, UK, and an MBA from the University of Bradford, UK.
Samuel-Ogbu has vast experience in international banking, bringing a global perspective to the Nigerian market, as she has served the banking needs at local and global since 1984, focusing her leadership on providing innovative financial solutions and leveraging technology to enhance customer experience.
Miriam Olusanya – GTBank
Miriam Olusanya assumed the office of the Managing Director of Guaranty Trust Bank, in July 2021 becoming the first woman to lead the bank in that position.
She is a graduate of Pharmacy from the University of Ibadan and a Master of Business Administration (majoring in finance and accounting) from the University of Liverpool, UK.. Olusanya joined GTB as an executive trainee in 1998. Until she was appointed MD, she was an executive director at the bank.
She is the first female MD in the bank’s history. She holds a bachelor’s degree in Pharmacy from the University of Ibadan and a Master of Business Administration (MBA), majoring in finance and accounting, from the University of Liverpool.
Olusanya is a seasoned banker with 26 years of stellar experience, Olusanya is known for her strong leadership, strategic vision, and commitment to financial inclusion.
Yetunde Oni – Union Bank
Yetunde Oni was appointed as the first female MD/CEO of Union Bank in January 2024.
She holds a degree in Economics from the University of Ibadan, Executive Training at Oxford University, and an MBA in Business Administration from Bangor University.
Before her recent appointment at the Union Bank, Oni was also the MD/CEO of the Standard Chartered Bank, Sierra Leone, from January 2021, spearheading leadership, strategy setting and performance management.
Her appointment by the Central Bank of Nigeria as the Union Bank’s CEO marked a significant development in the bank’s leadership, merging her extensive experience with quality qualifications to play a crucial role in the bank’s strategic direction.
Halima Buba – SunTrust Bank
Halima Buba is a businesswoman and astute female banker, who also became the MD/CEO of Sun Trust Bank in January 2021 after serving as the deputy general manager of Ecobank Nigeria.
Buba graduated with a Bachelor’s degree in Business Management and MBA from the University of Maiduguri. She is an alumnus of the Lagos Business School and Honorary member of the Chartered Institute of Bankers and a Fellow of the Institute of Management Consultants.
She has a passion for entrepreneurship and SME development shines through in her work at SunTrust Bank. She champions financial support for small businesses ’SME Flash’ recognizing their crucial role in driving Nigeria’s economic growth.
Yemisi Edun – FCMB
Yemisi Edun was appointed the MD/CEO of First City Monument Bank in July 2021, and the first female to ever hold the position. Edun graduated with a bachelor’s degree in Chemistry from the University of Ife (now Obafemi Awolowo University). She proceeded to the University of Liverpool, where she graduated with a master’s degree in international accounting and finance.
Prior to her appointment as Managing Director, she was the chief financial officer of the bank and the acting chief executive officer. Edun is a fellow of the Institute of Chartered Accountants of Nigeria and a CFA holder.
She is also an associate member of the Chartered Institute of Stock Brokers, an Associate Member of the Chartered Institute of Taxation of Nigeria, and a member of the Information Systems Audit and Control. Edun has sterling years of banking experience with an impressive track record in risk management and corporate governance. She is also the first woman to lead the financial institution FCMB.
Under her leadership, FCMB has witnessed significant growth and diversification, solidifying its position as a leading player in the Nigerian banking sector.
Bukola Smith – FSDH Merchant Bank
Bukola Smith became the Managing Director/Chief Executive Officer of First Securities Discount House (Limited) Merchant Bank in April 2021.
Smith holds an MBA from Alliance Manchester Business School, University of Manchester, UK, and a B.Sc. Economics from the University of Lagos. She is a Fellow of the Institute of Chartered Accounts of Nigeria (ICAN), Honourary Member of the Chartered Institute of Bankers and an Associate Member, Certified Institute of Pensions (Nigeria).
Before she was appointed Managing Director, she was the Executive Director, Business Development at First City Monument Bank and held several other leadership positions since joining in 2006.
She was responsible for the banks’ over 200 branches across the country, with her leadership roles and contributions in the Public Sector, Business Banking, Agriculture and Transaction Banking Divisions. Smith brings nearly 30 years of progressive experience in the banking industry with a track record of strategic execution and leadership, including investment banking and financial structuring that are instrumental in FSDH’s growth and success. She is an advocate for women in finance and actively mentors aspiring female leaders.
Kafilat Araoye – Lotus Bank
Kafilat Araoye emerged as the MD/CEO of Lotus Bank in 2020. She holds a first degree in History from the University of Ife, now Obafemi Awolowo University in 1985, and an M.Sc. in Industrial Relations & Personnel Management from the University of Lagos in 1987. She has attended various executive management courses at the Cranfield School of Management (UK), Lagos Business School, Institute of Management Development (Switzerland) and INSEAD (France), Ross Business School, University of Michigan (USA). CBN, Vanguard, Bank CEOs, experts hold special summit on ways out of recession
Araoye started her career in 1988 at National Oil and Chemicals Marketing Company Plc (now Conoil Nigeria Plc), and moved in 1990 to Guaranty Trust Bank Plc, as the pioneer head of Human Resources. Having put over 30 years into banking, Araoye has expertise in virtually all areas of core banking, with emphasis on international and domestic operations; Business Development, Risk Management, Human Resources and Strategy, ethical banking and social responsibility which she uses in championing her roles at Lotus Bank.
Tomi Somefun – Unity Bank
Tomi Somefun has assumed the role of the MD/CEO of Unity Bank Plc since August 2015. She is a fellow of the Institute of Chartered Accountants of Nigeria (ICAN). She holds a Bachelor of Education in English Language in 1981 from the Obafemi Awolowo University, Ile-Ife. She is also an alumnus of Harvard Business School and the University of Columbia Business School, New York, USA. Her professional career with Peat Marwick and Co. and later moved to Arthur Andersen (now KPMG).
With a deep understanding of over 35 years post-qualification experience, 26 of which were in the banking sector spanning key segments such as treasury and investment banking, corporate banking, rural banking, and financial inclusion, Somefun is passionate about promoting financial literacy and economic empowerment across Nigeria.