The Nigerian banking landscape is witnessing a remarkable transformation as a cadre of accomplished and visionary women take the helm of some of the country’s most prominent financial institutions. These trailblazers are not only shattering the glass ceiling but are also redefining the standards of leadership and innovation in the industry.
In anticipation of June 2024, Dame Dr. Adaora Remy Umeoji is poised to make history as she prepares to assume the role of Group Managing Director/CEO of Zenith Bank PLC. Once appointed, she will become the first female to lead the institution. Dr. Umeoji’s exceptional career path, which includes serving as deputy managing director since 2016, highlights the increasing acknowledgment of women’s leadership capabilities within the banking sector. (212)
Joining her is an impressive roster of female executives who have ascended to top leadership roles in Nigerian banks. Yetunde Oni, Miriam Olusanya, Yemisi Edun, Halima Buba, Ireti Samuel-Ogbu, Nneka Onyeali-Ikpe, Tomi Somefun, Kafilat Araoye, and Bukola Smith represent a diverse spectrum of expertise, experience, and accomplishment within the industry.
Each of these women brings a unique blend of academic excellence, professional experience, and a commitment to driving innovation and inclusive growth in the financial sector. From seasoned professionals with decades of experience to rising stars making waves with their strategic vision, these leaders are shaping the future of banking in Nigeria.
Adaora Umeoji, Zenith Bank PLC: With a distinguished academic background and a track record of leadership within Zenith Bank, Adaora Umeoji’s appointment as Group Managing Director reflects her dedication to excellence and her deep understanding of the banking landscape.
She holds a Bachelor’s degree in Sociology from the University of Jos, a Bachelor’s degree in Accounting, and a first-class honors in Law from Baze University Abuja. Additionally, she’s a Master of Laws graduate from the University of Salford, United Kingdom, and holds a Master in Business Administration from the University of Calabar.
Adaora has attended prestigious executive programs at Harvard Business School, Wharton Business School, and MIT Management Sloan School, among others. She is also a fellow of several professional bodies, including the Chartered Bankers Institute of London and the Chartered Institute of Bankers of Nigeria.
Beyond banking, Adaora is actively involved in promoting ethical banking and service to humanity. She founded the Catholic Bankers Association of Nigeria (CBAN) and is a peace advocate of the United Nations (UN-POLAC). Her contributions to nation-building have been recognized by the Federal Government of Nigeria, which honored her with the Officer of the Order of Nigeria in 2022. Additionally, she was awarded a Papal Knight of the Order of St. Sylvester by His Holiness Pope Francis.
Yetunde Oni, Union Bank: Yetunde Oni’s dynamic leadership style and expertise in client solutions have propelled her to the forefront of Union Bank. With over 25 years in the banking sector, she brings a wealth of experience and a passion for driving innovation to her role as Managing Director/CEO.
Her academic credentials include an Economics degree from the University of Ibadan and an MBA from Bangor University, complemented by executive training at Oxford University.
Oni’s career began at Prime Merchant Bank Treasury & Money Markets Group, followed by an 11-year stint at Ecobank Nigeria as a Relationship Manager. She joined Standard Chartered Bank Nigeria in 2005, where she held various key positions, culminating in her role as the Managing Director & Country Head of Commercial Banking in West Africa.
Before joining Union Bank, Oni was the first female Managing Director and CEO at Standard Chartered Bank in Sierra Leone.
Miriam Olusanya, Guaranty Trust Bank (GTB): Miriam Olusanya is the first female Managing Director in the history of GTBank. She holds a bachelor’s degree in Pharmacy from the University of Ibadan and a Master of Business Administration (MBA) with a major in finance and accounting from the University of Liverpool.
A seasoned banker with 26 years of experience, Miriam assumed leadership of GTBank in 2021. She is recognized for her strong leadership, strategic vision, and commitment to financial inclusion.
Yemisi Edun, First City Monument Bank (FCMB): Yemisi Edun’s appointment as the first female MD/CEO of FCMB marks a milestone in the institution’s history. With a background in finance and risk management, she brings a wealth of expertise to her role, driving growth and corporate governance within the bank.
Yemisi holds a bachelor’s degree in chemistry from the University of Ife, Ile-Ife, and a master’s degree in international accounting and finance from the University of Liverpool.
She is a fellow of the Institute of Chartered Accountants of Nigeria and a Chartered Financial Analyst (CFA). She is also an Associate Member of the Chartered Institute of Stockbrokers and an Associate Member of the Institute of Taxation of Nigeria, Member of Information Systems Audit and Control, U.S.A. and a Certified Information Systems Auditor.
She began her career with Akintola Williams Deloitte (member firm of Deloitte Touche Tohmatsu) in 1987 with focus on corporate finance activities as well as audit of banks and other financial institutions. She joined FCMB in year 2000 as Divisional Head of Internal Audit and Control before assuming the role of Chief Financial Officer of the Bank. She was appointed Managing Director of the Bank following CBN approval effective May 1, 2021.
Yemisi boasts 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.
Halima Buba, SunTrust Bank: Halima Buba’s comprehensive banking expertise spans over two decades, with a focus on SME development and financial inclusion. As MD/CEO of SunTrust Bank, she is committed to driving economic empowerment and supporting the growth of small businesses in Nigeria. Her illustrious career spans prominent financial institutions, including Allstates Trust Bank, Zenith Bank, Inland Bank Plc, Oceanic Bank Plc, and Ecobank Nigeria Limited. Halima earned her Bachelor of Science degree in Business Management and an MBA from the University of Maiduguri.
An alumnus of the Lagos Business School’s Senior Management Programme, she is a Senior Honorary Member of the Chartered Institute of Bankers and a Fellow of the Institute of Management Consultants. Halima serves as a Non-Executive Director on the Board of the Nigerian Sovereign Investment Authority (NSIA) and Anchoria Asset Management Company Limited. She is deeply committed to youth and women empowerment, contributing significantly to the education of the girl child.
Ireti Samuel-Ogbu, CitiBank: Ireti Samuel-Ogbu was appointed MD/CEO of CitiBank in September 2020, 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.
With extensive experience in international banking, Ireti brings a global perspective to the Nigerian market. Under her leadership, Citibank is focusing on providing innovative financial solutions and leveraging technology to enhance customer experience.
Nneka Onyeali-Ikpe, Fidelity Bank: Mrs. Onyeali-Ikpe has been an integral part of the transformation team at Fidelity Bank for the last six years. Formerly serving as Executive Director for Lagos and the South West, she oversaw the bank’s operations in the six states comprising the region. Under her leadership, the directorate achieved profitability and sustained impressive year-on-year growth, contributing over 28% to the bank’s Profit Before Tax (PBT), deposits, and loans.
With over 30 years of professional experience across various banks, including Standard Chartered Bank Plc, Zenith Bank Plc, and Citizens International Bank Limited, Mrs. Onyeali-Ikpe has held several management positions in legal, treasury, investment banking, retail/commercial banking, and corporate banking. She has played a key role in structuring transactions in various sectors such as oil & gas, manufacturing, aviation, real estate, and exports.
As an Executive Director at Enterprise Bank Plc, she received formal commendation from the Asset Management Corporation of Nigeria (AMCON) for her contribution to successfully turning around the bank.
Mrs. Onyeali-Ikpe holds Bachelor of Laws (LLB) and Master of Laws (LLM) degrees from the University of Nigeria, Nsukka, and Kings College, London, respectively. She has participated in executive training programs at renowned institutions such as Harvard Business School, The Wharton School, University of Pennsylvania, INSEAD, Chicago Booth School of Business, London Business School, and IMD, among others.
She is also an Honorary Senior Member (HCIB) of The Chartered Institute of Bankers of Nigeria (CIBN).
Tomi Somefun, Unity Bank: Tomi Somefun is an accomplished financial services professional with over three decades of hands-on experience spanning commercial and investment banking, financial and business consulting, and audit and accounting services. A Fellow of the Institute of Chartered Accountants of Nigeria, she graduated from Obafemi Awolowo University (formerly University of Ife) in 1981 with a Bachelor of Education in English Language and later trained and worked with KPMG as a Chartered Accountant.
Benefiting from several executive training management programs at prestigious institutions such as Harvard Business School, Wharton Business School, and Columbia Business School, she is also an alumna of INSEAD, Fontainebleau.
In August 2015, she assumed the role of Managing Director/Chief Executive Officer of Unity Bank Plc, a retail bank in Nigeria. Prior to this appointment, she served as the Executive Director overseeing the Lagos and South-West Business Directorate, as well as the Financial Institution Division and Treasury Department of the Bank. She also held the position of Managing Director of UBA Capital & Trust Ltd from 2004 to 2005 and was the founding Managing Director/CEO of UBA Pension Custodian Ltd in 2005.
Tomi is passionate about mentoring and counseling young adults to help them reach their full potential despite their limitations. She actively participates on the boards of various financial and educational institutions and has contributed her expertise to advisory boards of several foundations, including the UBA Foundation.
Kafilat Araoye, Lotus Bank: Kafilat earned her first degree in History from the University of Ife, now Obafemi Awolowo University, in 1985, and obtained an M.Sc. in Industrial Relations & Personnel Management from the University of Lagos in 1987, graduating top of her class. She holds Islamic Finance certifications from various prestigious institutes.
Her career commenced in 1988 at the National Oil and Chemicals Marketing Company Plc (now Conoil Nigeria Plc). In 1990, she joined Guaranty Trust Bank Plc as the pioneer head of Human Resources. During her tenure, she contributed significantly to various critical projects, including the implementation of core banking applications in Jordan.
With over 25 years of experience in banking, Kafilat has expertise in a wide range of core banking areas, including International and Domestic Operations, Payments, General Management, Business Development, Risk Management, Human Resources, and Strategy.
She has actively participated in several Central Bank of Nigeria (CBN) committees and represented Nigeria at international banking forums. Kafilat also serves on the governing boards of various educational institutions and is a member of the Elder’s Council at Al Muhtudeen Islamic Foundation.
Bukola Smith, FSDH Merchant Bank: Bukola Smith’s leadership at FSDH Merchant Bank is driving innovation and growth in the financial sector. With a focus on customer service and financial solutions, she is leading with a vision for driving sustainable development and prosperity in Nigeria.
Mrs. Bukola Smith holds a bachelor’s degree in Economics from University of Lagos, and also holds an MBA from Manchester Business School, University of Manchester, United Kingdom. She started her banking career with FSB International Bank (now part of Fidelity Bank) and her experience cuts across Customer Service, Funds Transfer, International Trade, Institutional Banking, Private Banking, Treasury, Investment & Financial Markets, Project & Structured Finance, Audit and Sales. She became a Chartered Accountant in 1998 and is currently a fellow of the Institute of Chartered Accounts of Nigeria (ICAN). She is an Associate Member of the Certified Institute of Pensions, Nigeria and also a Committee member of CIBN Annual Conference (Honorary Member of CIBN). In addition, she is a Mentor with Wiscar (Women in Success Careers).
She rose to the position of Divisional Head, Treasury and Institutional Banking in Fidelity Bank Ltd before joining First City Monument Bank Limited (FCMB) in the year 2006 where she has occupied several positions as the Group Head, Treasury and Financial Institutions, Divisional Head, Investment Banking and Financial Markets, Director Project and Structured Finance, and Divisional Head, Group Internal Audit. Prior to her appointment as Executive Director, she was the Regional Head, Lagos Region of the Bank.