More women are now in charge in the financial industry, and this includes commercial banks. The change began in 2021, and since then, more women are leading bank boardrooms. Currently, brilliant Nigerian women are at the helm of Fidelity, Union Bank, Citi Bank, FCMB, and others.
On January 11, 2024, Olayemi Cardoso, the Governor of the Central Bank of Nigeria (CBN), announced new appointments for executives overseeing Union, Keystone, and Polaris Banks. Yetunde Oni became the new managing director/CEO of Union Bank of Nigeria. This appointment adds to the number of women serving as managing directors/CEOs of various banks in Nigeria.
Now, Yetunde Oni joins others like Nneka Onyeali-Ikpe, the MD/CEO of Fidelity Bank; Tomi Somefun, the MD/CEO of Unity Bank; Miriam Olusanya, the MD of Guaranty Trust Bank Limited.
Additionally, there are Ireti Samuel-Ogbu, serving as the CEO and Citi Country Officer for Nigeria and Ghana, and Yemisi Edun, the MD of First City Monument Bank (FCMB).
Here are the profiles of 9 female CEOs of top banks in Nigeria
1. Nneka Onyeali-Ikpe (Fidelity Bank):
On January 1, 2021, Nneka Onyeali-Ikpe assumed the role of Managing Director/CEO at Fidelity Bank, transitioning from her previous position as the Executive Director for Lagos and South West. She is the first female to occupy the position since the bank’s inception in 1988.
She holds Bachelor of Laws and Master of Laws degrees from the University of Nigeria, Nsukka, and Kings College, London. Onyeali-Ikpe has undertaken executive training programs at esteemed institutions, including Harvard Business School, The Wharton School University of Pennsylvania, INSEAD School of Business, Chicago Booth School of Business, and London Business School.
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2. Ireti Samuel-Ogbu (Citibank Nigeria):
In September 2020, Ireti Samuel-Ogbu became the MD/CEO at CitiBank, marking her as the first female CEO of the bank in Nigeria. She holds a Bachelor of Arts in Accounting and Finance from Middlesex University, UK, and an MBA from the University of Bradford, UK.
3. Yemisi Edun (FCMB):
Yemisi Edun assumed the role of Managing Director at FCMB on May 1, 2021, two decades after starting her journey with the bank in 2000 as the divisional head of Internal Audit and Control. She holds a bachelor’s degree in chemistry from the University of Ife and a master’s degree in International Accounting and Finance from the University of Liverpool, United Kingdom.
4. Tomi Somefun (Unity Bank):
Tomi Somefun was appointed the managing director/CEO of Unity Bank in August 2015 after demonstrating leadership qualities as an executive director overseeing the Lagos and South-West Business directorates, the financial institution division, and the bank’s treasury department. She graduated from Obafemi Awolowo University (formerly University of Ife) in 1981 with a Bachelor of Education in English Language. Somefun also holds an honorary Doctor of Business Administration degree from the Redeemer’s University.
5. Miriam Olusanya (Guaranty Trust Bank Limited):
In 2021, Miriam Olusanya assumed the role of Managing Director at GTBank, bringing over two decades of experience in various aspects of banking. Joining GTB as an executive trainee in 1998, Olusanya steadily climbed the organizational ladder, holding strategic leadership positions.
She is a graduate of the University of Ibadan and the University of Liverpool, where she earned a Bachelor’s degree in Pharmacy and an MBA in Finance and Accounting, respectively.
6. Kafilat Araoye (Lotus Bank):
In 2018, Kafilat assumed the role of MD Designate for LOTUS Bank, a non-Interest Nigerian Bank. She is widely recognized as an accomplished banker, a champion in advocating for sustainable financial practices, and an active supporter of investment in community development projects. Kafilat holds a first degree in History from the University of Ife, now Obafemi Awolowo University, and an M.Sc. in Industrial Relations & Personnel Management from the University of Lagos.
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7. Bukola Smith (FSDH Merchant Bank):
Bukola Smith is the managing director of First Securities Discount House Limited (FSDH) merchant bank, a role she assumed in April 2021. She graduated with a B.Sc. in Economics from the University of Lagos and completed her MBA at Alliance Manchester Business School, University of Manchester, United Kingdom. A sound investment banker, Bukola has played a pivotal role in driving the growth and success of FSDH.
8. Yetunde Oni (Union Bank):
The latest entrant is Yetunde, the first female MD/CEO of Union Bank. She holds a degree in economics from the University of Ibadan, an executive training degree from Oxford University, and an MBA in business administration from Bangor University.
9. Halima Buba (SunTrust Bank):
Halima Buba is the Managing Director and CEO of SunTrust Bank. She earned a Bachelor of Science degree in Business Management from the University of Maiduguri and later completed her MBA at the same university. Halima is dedicated to supporting entrepreneurship and the development of small businesses. At SunTrust Bank, she leads initiatives like ‘SME Flash’ to provide financial support to small businesses, recognizing their essential contribution to Nigeria’s economic growth.
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