The gender glass ceiling in Nigeria’s financial services might not yet be shattered, however, a significant paradigm shift has continued to be ongoing, challenging the conventional male-dominated landscape.
Notably, women are ascending to prominent leadership positions, defying stereotypes, and leaving their indelible mark.
These influential women are not only redefining industry standards but occupy pivotal roles in the C-suite, at regulatory bodies, and as mentors to emerging female professionals.
Their accomplishments hold even greater significance in an industry increasingly emphasizing increased gender diversity. In 2021, Nairametrics shared the spotlight of seven MDs and/or CEOs of banks.
Today, Nairametrics spotlights accomplished female leaders, in the banking and insurance industries of the financial services sector, managing substantial assets at a critical juncture of the nation’s economic reforms, with a stock market All Share Index (ASI) at 66,382.14 points and market capitalization worth N36.3 trillion in Q3, 2023.
It is worth noting that these women are also actively engaged in other initiatives promoting financial literacy, diversity, and economic empowerment.
Allow us to introduce you to these formidable women shaping the landscape of Nigeria’s banking and insurance industries in 2023.
These are individuals whose influence transcends the confines of boardrooms and financial statements.
Emem Usoro – Deputy Governor Central Bank of Nigeria
- Emem Usoro is the current Deputy Governor of the Central Bank of Nigeria (CBN) in charge of the regulatory bank’s Operations Directorate.
- She is an alumna of Harvard Business School and Lagos Business School, Usoro’s banking career spans over 20 years with experience in Operations, Credit and Marketing, Branch Management, Relationship Management, and Corporate and Commercial Banking.
- Before her current role at the CBN, Emem was the Executive Director responsible for managing UBA’s Northern Group, which comprised 22 regional banks.
The CBN declared a profit after tax of N103.8bn in 2022, up from N75.13bn reported a year earlier.
Dr. Oluwayemisi Olorunshola – Chairman of WEMA Bank
- (Mrs.) Oluwayemisi Olorunshola joined the Board of WEMA Bank in 2022 as a Non-Executive Director, where she served as the Chairman of the Board’s Nomination and Governance Committee
- She became the Board Chairman in June 2023.
- She has 15 years of experience tenure at Unilever Nigeria Plc, with expertise in supply chain management, business re-engineering, and process management.
- She is an ardent educationist and obtained her B.Sc. in Education & Economics from Obafemi Awolowo University, Ile Ife, an MBA from the University of Liverpool, UK, and a Doctorate in Business Administration from Walden University, USA.
In Q2 2023, Wema Bank reported a year-on-year pre-tax profit growth of 96.74%, from N6.13 billion in H1, 2022 when compared to N12.09 billion in 2023.
Yemisi Edun – Managing Director – FCMB
- Yemisi Edun became Managing Director of FCMB in May 2021.
- She holds a BSc. in Chemistry from the University of Ife, and a master’s degree in international accounting and finance from the University of Liverpool, United Kingdom.
- She started her career at Akintola Williams Deloitte in 1987, focusing on corporate finance and Audit, after which she joined FCMB in 2000, initially working in internal audit before becoming the Chief Financial Officer.
- She is a fellow of the Institute of Chartered Accountants of Nigeria (ICAN), a Chartered Financial Analyst (CFA) and an associate member of the Chartered Institute of Stockbrokers and Institute of Taxation in Nigeria.
In H1 2023, FCMB Group Plc reported a 148% year-on-year growth in pre-tax profit to N38.23 billion when compared to N15.43 billion in H1, 2022.
Miriam Olusanya – Managing Director – GT Bank
- Miriam Olusanya assumed the role of Managing Director (MD) of GTBank Limited in July 2021.
- She is the first female MD since the bank’s establishment in 1990 and has over 23 years of banking experience, with expertise in transaction services, asset and liability management, and others.
- She joined the bank as an executive trainee in 1998 and became an executive director in 2018 and is the Group’s Treasurer managing financial market activities and the bank’s African subsidiaries.
- She is a non-executive director on the Board of Guaranty Trust Bank (Gambia) Limited.
- She holds a bachelor’s degree in pharmacy from the University of Ibadan and an MBA in Finance and Accounting from the University of Liverpool.
In H1 2023, GTCO reported a year-on-year increase of 217.1% in pre-tax profit of ₦327.4 billion, when compared to ₦103.2 billion in H1 2022.
Tomi Somefun – Managing Director/Chief Executive Officer – Unity Bank
- Tomi Somefun is currently the Managing Director/CEO at Unity Bank Plc.
- Prior to her appointment in 2015, she served as the Executive Director for the bank’s Lagos and South-West Directorate.
- She has a bachelor’s degree in education (English Language) from the Obafemi Awolowo University Ife and has over 35 years of post-qualification experience, and over 26 years spent in the banking sector.
- She has garnered diverse experience in areas such as Treasury & Investment Banking, Corporate Banking, and Retail and Commercial Banking Operations.
- She previously led major subsidiaries within the UBA Group as MD/CEO, including UBA Pensions Custodian.
- She worked at prestigious consulting firms, KPMG and Arthur Andersen and is a member of the Institute of Chartered Accountants of Nigeria and the Chartered Institute of Bankers of Nigeria.
Unity Bank Plc’s H1 2023 unaudited financial statement showed a 2% increase in deposits to N333.38 billion from N327.42 billion in H1’22.
Nneka Onyeali-Ikpe – Managing Director/Chief Executive Officer – Fidelity Bank
- Nneka Onyeali-Ikpe assumed the role of Managing Director/CEO of Fidelity Bank on January 1, 2021.
- She was previously the Executive Director, of Lagos and South-West, playing a pivotal role in its transformation and growth.
- Nneka is a lawyer and obtained her Bachelor of Law (LLB) degree from the University of Nigeria Nsuka and Master of Law (LLM) from Kings College London her career spans 30 years working at banks such as Standard Chartered, Zenith, and Citizens International banks, in diverse management roles in Legal, Treasury, Investment Banking, Retail/Commercial and Corporate Banking.
- She has attended training at prestigious institutions such as Harvard Business School and INSEAD and is an Honorary Senior Member of The Chartered Institute of Bankers of Nigeria.
In H1 2023, Fidelity Bank reported a 213.8% year-on-year of its pre-tax profits to N206.26 billion from N65.72 billion in H1, 2022.
Bukola Smith – Managing Director/Chief Executive Officer – FSDH Merchant Bank
- Bukola Smith became the Managing Director/Chief Executive Officer of the bank in April 2021. Prior to her appointment, Bukola was the Executive Director of Business Development at FCMB.
- Bukola started her banking career in 1993 with FSB International Bank Plc working in the Funds Transfer, International Trade, Treasury and Private Banking departments.
- She joined Fidelity Bank in 2000, rising to become Divisional Head of Treasury and Institutional Banking in 2004, and later FCMB in 2006, where she worked in various capacities as Divisional Head of group Internal Audit; Divisional Head of investment Banking & Financial Markets; Group Head, Treasury & Financial Institution and Regional Head, Lagos.
- She holds a bachelor’s degree in economics from the University of Lagos and an MBA from Alliance Manchester Business School of the University of Manchester UK and is a fellow of the Institute of Chartered Accountants of Nigeria, the Certified Institute of Pensions Nigeria and an honorary member of the Chartered Institute of Bankers.
Ireti Samuel-Ogbu – Managing Director/Chief Executive Officer – Citi Bank
- Ireti Samuel-Ogbu became MD/CEO of Citibank Nigeria Limited in September 2020
- She is the first female MD/CEO for Citi Bank in Nigeria and has 32 years of experience working at Citi Bank, holding diverse roles across the UK, Nigeria, and South Africa.
- Samuel-Ogbu has been a non-executive Director on the board of Citibank Nigeria Limited for five years.
- Her career included leadership positions in relationship management, corporate finance, and heading Citi’s treasury and trade solutions business in major African markets.
- She is a staunch advocate for diversity and inclusion, co-founding mentorship initiatives at Citi Bank and has received recognition for her contributions to the banking and fintech sectors.
- Samuel-Ogbu holds a BA Hons in Accounting and Finance from Middlesex University and an MBA from the University of Bradford, UK.
Halima Buba – Managing Director/Chief Executive Officer – Sun Trust Bank
- Halima Buba is presently the Managing Director/Chief Executive Officer of SunTrust Bank Nigeria Limited
- She has a 22-year banking career that includes roles at Allstates Trust Bank, Zenith Bank, Inland Bank Plc, Oceanic Bank Plc, and Ecobank Nigeria Limited.
- She co-founded and was an Executive Director at Taj Consortium
- She is a member of the board of institutions such as Anchoria Asset Management Company Limited and NSIA Umuahia Diagnosis Centre (NUDC).
- Halima holds a B.Sc. in Business Management and an MBA from the University of Maiduguri.
SunTrust Bank Nigeria Limited reported a pre-tax profit of N1.51 billion in 2022, when compared to N1.58 billion loss in 2021 representing a 195.6% growth year-on-year.
Kafilat Araoye – Managing Director/Chief Executive Officer – Lotus Bank
- Kafilat Araoye, the Managing Director of Lotus Bank.
- She holds a first degree in History from the University of Ife, now known as Obafemi Awolowo University (1985), and an M.Sc. in Industrial Relations & Personnel Management from the University of Lagos (1987) graduating as the best student.
- Kafilat started her career in 1988 at the National Oil and Chemicals Marketing Company Plc and joined Guaranty Trust Bank Plc in 1990, where she pioneered the Human Resources division.
- According to her profile on the Lotus Bank website, she is part of several Central Bank of Nigeria (CBN) Implementation Committees on some Settlement and Payment solutions between 2002 and 2007 and represented Nigeria at the Banking Techniques and Practice Committee of the International Chamber of Commerce, between 2006 and 2011.
- She was a member Chartered Institute of Bankers’s Committee on Capacity Building and Certification from 2014 to 2020.
Dr. Adaeze Udensi – Acting Managing Director – Titan Trust Bank
- Adaeze Udensi is currently the acting MD of Titan Trust Bank.
- Prior to joining the bank, she held the role of Executive Director South-South/South-East Directorate and Executive Compliance Officer for Heritage Bank.
- Her over 26 years of experience encompasses retail, commercial, public sector, E-business, private wealth management, business development, credit, and marketing.
- She spent 16 years at Zenith Bank where she oversaw the growth of Oil & Gas, Public Sector, Commercial and Retail Businesses, leaving as a General Manager.
- She holds a degree in Banking and Finance from Enugu State University of Science and Technology, as well as two MBAs
- Adaeze is a member of the Chartered Institute of Bankers, Scotland and serves on the Governing Council of The Chartered Institute of Nigeria (CIBN).
Marufatu Abiola Bawuah – Chief Executive Officer – UBA Africa
- Abiola Bawuah is currently the Regional Chief Executive Officer, of West Africa for UBA. She oversees the Bank’s operation in Nine West African Countries
- Abiola Bawuah joined United Bank for Africa (Ghana) Limited (UBA) as Deputy Managing Director in 2013.
- In less than a year she was elevated to MD/CEO, with two firsts: being the first indigenous CEO of a Pan African Bank and the first female CEO to take the helm.
- Before joining UBA, she was an Executive Director at Zenith Bank Ghana; having previously held positions of General Manager, Marketing and Group Head, Retail Banking.
- Under her able leadership at UBA Ghana Ltd., She grew the branch network from 25 branches in 2013 to 28 fully networked branches.
- She holds a bachelor’s science in Actuarial Science from the University of Lagos, an LLB from the University of London and a diploma in marketing and EMBA from the University of Ghana.
Sola Yomi-Ajayi – Executive Director/Chief Executive Officer – UBA International
- Sola Yomi-Ajayi has the distinction of managing two portfolios as Executive Director of International Banking as well as CEO of Uba International.
- She has over 28 years of banking experience managing corporate and institutional relationships.
- She has over the course of her career been involved in managing international banking, regulatory engagement, structured funding, risk management and financial inclusion.
- She is responsible for strategy formulation and oversight of the group’s international businesses.
- She holds a Bachelor of Arts degree from Obafemi Awolowo University and an MBA from the Aberdeen Business School, UK, a fellow of the Chartered Management Institute, UK and is a member of the Board of Trustees for the US-based Institute of International Banking.
Dame (Dr.) Adaora Umeoji (OON) – Deputy Managing Director – Zenith Bank
- Dame (Dr.) Adaora is currently the Deputy Managing Director at Zenith Bank.
- She holds a bachelor’s degree in accounting from the University of Jos, a first-class honours in Law from Base University, Abuja, a Master of Law from the University of Salford, United Kingdom and an MBA from the University of Calabar.
- She is a graduate of the Advance Management Program at Harvard, Global Banking Program from the Columbia Business School and a PhD. In Business Administration from Apollos University, USA.
- Aside from her banking career, she supports research and learning on inspirational leadership, mentorship, talent development change and adaptability, strategic thinking, innovation and creativity, amongst others.
- In 2022, the Federal Government of Nigeria honoured her with Officer of the Order of the Niger, as a recognition of her contributions to nation-building.
Chizoma Okoli – Deputy Managing Director Retail South – Access Bank
- Chizoma Okoli assumed the role of Deputy Managing Director, Retail South in May 2022, with nearly three decades of extensive banking expertise.
- Her career began in 1992 as an Executive Trainee at the now-defunct Diamond Bank Plc., advancing through the ranks to become an Executive Director in 2016. Following the bank’s merger with the former Diamond Bank in 2019, she took on the role of Executive Director, Business Banking Division.
- She has a bachelor’s degree in law from the University of Benin and an MBA from Warwick Business School in the United Kingdom and is recognized as an Honorary Senior Member of the Chartered Institute of Bankers of Nigeria and a Member of the Institute of Credit Administration of Nigeria.
Hadiza Ambusa – Executive Director Commercial – Access Bank
- Hadiza Ambusa became an Executive Director at Access in the Commercial Banking Division in November 2017.
- Her extensive banking career, spanning over two decades, includes significant tenures at Guaranty Trust Bank and Access Bank.
- She began her career as a Relationship Manager in the Public Sector at Guaranty Trust Bank Plc before she joined Access Bank in 2003.
- She holds a Bachelor of Science degree in Political Science from the University of Jos (1991) and a master’s degree in law and diplomacy (1996) from the same university and earned an MBA from the Massachusetts Institute of Technology (MIT).
- She also serves on the boards of Access Bank Ghana Plc and the Bank Directors Association of Nigeria.
Iyabo Soji-Okusanya – Executive Director Corporate & Investment Banking – Access Bank
- Iyabo Soji-Okusanya serves as the Executive Director of the Corporate and Investment Banking Division of Access Bank.
- She recently joined the board, in June 2023 and has a career spanning over 30 years, with expertise covering corporate and commercial banking, accounting, and human capital development.
- Soji-Okusanya has a Bachelor of Science Degree in Accounting from the University of Ilorin and is a Fellow of the Institute of Chartered Accountants of Nigeria and the Chartered Institute of Bankers of Nigeria.
Oluwatoyin Olaiya – Executive Director Risk Management & Compliance – FCMB
- Oluwatoyin Olaiya is the Executive Director of Risk Management and Compliance at FCMB.
- She holds a bachelor’s degree in accounting from Obafemi Awolowo University, Ile-Ife and is a fellow of the Institute of Chartered Accountants of Nigeria (ICAN).
- Olaiya started out as an auditor at KPMG Peat Marwick, before transitioning to roles at Abacus Merchant Bank Limited, Magnum Trust Bank Limited, and Sterling Bank Plc.
- In 2016, she assumed the role of Chief Risk Officer at First City Monument Bank Limited, with an extensive career, holding positions in Domestic Operations, Internal Audit, Business Development, Financial Control, Compliance, and various Enterprise Risk Management roles in the banking sector.
Pamela Shodipo – Executive Director South Directorate– Fidelity Bank
- Pamela Shodipo joined the board of Fidelity Bank in February 2023 to assume her role.
- She has over 25 years of multifunctional cross-border experience covering customer service, general management, commercial, consumer and retail sectors.
- She started her career in 1991 at International Standard Insurance 1991 and has had experience with organizations such as United Commercial Bank (1992), Zenith Bank (1997) and UBA (2007), where she rose to the role of MD/CEO of UBA Benin, between 2021 and 2022.
- She holds a BSc. In Psychology from the University of Lagos in 1991 and an MBA from the University of Wales College Cardiff, United Kingdom in 1995
- She is an alumnus of the Lagos Business School Senior Management Program (SMP22) and an honourary senior member of the Chartered Institute of Bankers of Nigeria.
Bunmi Dayo-Olagunju – Executive Director Operation Directorate – Stanbic IBTC Bank
- Bunmi Dayo-Olagunju, currently serves as the Executive Director of Operations at Stanbic IBTC Bank.
- She has over 20 years of experience in banking, finance, asset management, and pension fund management and has occupied the portfolio which includes Chief Executive of Stanbic IBTC Asset Management Ltd, where she also served as the Chief Operating Officer.
- She has held various leadership positions at Stanbic IBTC Pension Managers Ltd. and IBTC Chartered Bank Plc, including Group Financial Controller.
- Dayo-Olagunju holds a Bachelor of Science Degree in Accounting from the University of Lagos and is a fellow of the Institute of Chartered Accountants of Nigeria.
- Stanbic IBTC reported its 2023 Half-year results showing pre-tax profits grew by 107.58% year on year, reaching N82.985 billion.
Adobi Stella Nwapa – Executive Director – Zenith Bank
- Adobi Stella Nwapa serves as an Executive Director at Zenith Bank.
- She is one of the pioneering staff of the bank joining in 1990.
- She has over 30 years of experience in various roles, which include business development, branch and zonal management.
- Before her appointment as Executive Director, she was the General Manager and Group Zonal Head of Ikoyi Zone and Group Head of Diaspora Banking.
- She holds fellowships with several prestigious institutes and is a member of various professional bodies, including the Institute of Management Consultants (IMC) and the Institute of Chartered Management Specialists (ICMA).
Chinwe Iloghalu – Executive Director Lagos & Corporate Banking Directorate – Polaris Bank
- Chinwe Iloghalu is an Executive Director at Polaris bank.
- She has more than 25 years of experience, predominantly in senior management roles with a focus on strategic brand management.
- On June 15, 2023, Chinwe assumed her role as Executive Director, overseeing the Lagos & Corporate Bank Directorate at Polaris Bank.
- Her banking journey started as a Youth Corper at Equitorial Trust Bank in 1996, following her mandatory NYSC National Service.
- She subsequently joined Ecobank Nigeria Plc, where she served at the Head Office, Ikoyi Branch, and Apapa Branch for four years.
- She holds a B.Sc. in Industrial Chemistry from the University of Benin and an M.Sc. in Marketing Communications from the School of Media and Communication at Pan-Atlantic University.
Stella-Marie Omogbai – Executive Director Corporate Banking & Branch Division – FSDH Merchant Bank
- Stella-Marie Omogbai is an Executive Director at FSDH Merchant Bank Limited and heads the Corporate Banking and branches division of the bank.
- She has over 27 years of banking experience having worked in Senior Management positions in several financial institutions, some of which include Access Bank, UBA and Keystone Bank.
- She is a graduate of the University of Benin and the Nigerian Law School and obtained an MBA from the University of Wales (Holborn College), United Kingdom.
- She is also a member of the following organizations: Wimboard Africa Fellow, Life Associate, Women in Business and Management (WIMBIZ) and others.
Nneka Enwereji – Executive Director Global Subsidiaries Group – Citi Bank
- Nneka Enwereji is an Executive Director at Citibank Nigeria where she leads the coverage of Citi’s multinational and top-tier local corporate clients.
- As business head, she is responsible for all business functions, including strategy, risk management, staffing, compliance and financials.
- She has a 24-year banking career, with experience spanning Treasury, Corporate & Investment Banking, Risk Management, Operations and Transaction Services.
- She is also an Alternate Director at Accion Microfinance Bank representing Citibank Nigeria.
- She has a bachelor’s degree in computer science
Rashidat Adebisi – Executive Director Technical & Client Services – Axa Mansard
- Rashidat Adebisi is currently the Executive Director & Chief Client Officer at AXA Mansard Insurance Plc, in 2017.
- She joined AXA Mansard in 2005 as an Executive Officer in the FINCON Group.
- Adebisi holds a bachelor’s degree in business accounting from the University of Lincolnshire & Humberside and is an Associate of the Chartered Certified Accountants (ACCA).
- Prior to joining AXA Mansard Insurance Plc, she gained experience in organizations including Churchill Insurance UK (Member of the Royal Bank of Scotland Group).
AXA Mansard reported a 12% increase in Insurance revenue, reaching N39 billion, with Property & Casualty down 5% to N14.5 billion, Life & Savings up by 23% to N8.9 billion, and Health rising by 27% to N15.7 billion.
Mary Adeyanju – Executive Director Operations – Consolidated Hallmark Insurance Plc.
- Mary Adeyanju occupies the position of Director & Executive Director-Operations at Consolidated Hallmark Insurance Plc.
- She is also on the board of Grand Treasurers Ltd. and Hallmark Health Services Ltd. and is an Associate of the Chartered Insurance Institute of Nigeria.
- She holds a B.A in Theatre Arts and a Diploma in Insurance from the University of Jos and Ahmadu Bello University, Zaria and an MBA from Lagos State University.
Ugochi Odemelam – Executive Director – Head Marketing – Sovereign Trust Insurance Plc.
- Ugochi Odemelam holds the position of Executive Director & Head-Marketing at Sovereign Trust Insurance Plc.
- She started her career in 1995 when she joined Sovereign Trust Insurance Plc.
- She is a graduate of the Federal Polytechnic, Nassarawa, and holds an MBA from ESUT Business School, a member of the Nigerian Institute of Management (NIM), Chartered Insurance Institute of Nigeria (CIIN), and Chartered Insurance Institute of London (CII London).
Note: The women featured in this compilation have been carefully selected by a distinguished panel of editors, experts, and analysts at Nairametrics.
It is important to note that none of the women listed have solicited their inclusion. While this list aims to be comprehensive, it is by no means exhaustive; numerous other women have contributed and played significant roles in advancing the Financial Services sector in Nigeria.
This compilation is exclusive to Nairametrics and may be updated periodically to reflect changes and advancements in the area. Feedback will be appreciated.
No comments:
Post a Comment