THE NIGERIAN BANKING AMAZONS: THE FEMALE CEOs

In Nigeria’s fast-evolving banking sector, women have emerged as key players, taking on leadership roles that were once dominated by men. These female CEOs, or “Banking Amazons”, are not only shaping the future of banking in Nigeria but are also driving innovation and financial inclusion across the country and beyond. Let’s take a look at some of the prominent Nigerian women who are redefining the banking industry.

1. Nneka Onyeali-Ikpe – CEO, Fidelity Bank

Nneka Onyeali-Ikpe, a seasoned banker and transformative leader, has redefined what it means to be a CEO in Nigeria’s banking sector. Since her appointment as the Managing Director/CEO of Fidelity Bank in December 2021, Onyeali-Ikpe has led the bank to unprecedented financial growth and global expansion, cementing her position as one of Africa’s top female banking leaders.

Under Onyeali-Ikpe’s leadership, Fidelity Bank has seen a remarkable boost in profitability. In just two years, the bank’s Profit Before Tax (PBT) increased from N25.22 billion in 2021 to an astounding N122 billion in 2023.

One of Onyeali-Ikpe’s most significant achievements as Fidelity Bank’s CEO has been the bank’s successful expansion into international markets. In a move that highlights her strategic foresight, Fidelity Bank secured approval from the Central Bank of Nigeria (CBN) to acquire Fidelity Bank UK Limited (formerly Union Bank UK). This acquisition positions the bank as a formidable player in global banking and allows it to tap into new markets and serve a broader international customer base.

2. Ireti Samuel-Ogbu – CEO, Citibank Nigeria (Retired)

Ireti Samuel-Ogbu made history in 2020 by becoming the first female CEO of Citibank Nigeria, an appointment that exemplified her exceptional leadership skills and deep expertise in global finance. Having previously served as Managing Director for Treasury and Trade Solutions across Europe, the Middle East, and Africa (EMEA), Samuel-Ogbu brought a wealth of international experience and strategic foresight to her role at Citibank Nigeria. 

One of her standout achievements was her work in transforming Nigeria’s payments space. Through her leadership, Citibank Nigeria enhanced its payments infrastructure, facilitating smoother, faster, and more secure transactions across the country. 

Samuel-Ogbu’s career spanned over 36 years, a journey marked by progressive leadership roles at Citi Group. Prior to leading Citibank Nigeria, she played a pivotal role in Citi’s Treasury and Trade Solutions (TTS) for EMEA, where she oversaw complex financial operations and strengthened trade solutions across multiple regions.

Samuel-Ogbu retired in August 2024, marking the end of a distinguished career with Citi Group. She left a legacy that was not just about numbers and profits, but about breaking barriers for women in leadership. Her tenure as Citibank Nigeria’s CEO transformed the bank’s operations and left an indelible mark on Nigeria’s financial sector. 

Reflecting on her journey, Samuel-Ogbu said, “I am deeply grateful for my time at Citi, with the learning and growth opportunities. I’m proud of the impact I was able to make through Citi, which includes transforming the Nigerian Payment space and being voted Financial Services Leader by the Black British Awards.”

Her retirement saw the baton passed to Nneka Enwereji, who succeeded her as the Managing Director/Chief Executive Officer of Citibank Nigeria Limited in August 2024. Samuel-Ogbu’s legacy will continue to inspire the next generation of female leaders, not only in banking but across industries where women are breaking new ground.

3. Tomi Somefun – CEO, Unity Bank

Tomi Somefun is a seasoned financial professional with over 35 years of experience, including 26 years in the banking sector, where she has held leadership roles in Treasury, Investment, Corporate, Retail, and Commercial Banking. Before transitioning into banking, she gained foundational experience at KPMG and Arthur Andersen, which honed her skills in financial management and consulting. Somefun joined United Bank for Africa (UBA), where she led two subsidiaries, including UBA Pensions Custodian as MD/CEO.

In August 2015, Somefun was appointed Managing Director/CEO of Unity Bank Plc, following her role as Executive Director, overseeing critical business units such as the Lagos and South-West Business Directorates and the Treasury Department. Her leadership has driven Unity Bank’s strategic focus on growth and innovation, especially in retail and commercial banking, helping the bank navigate a competitive market.

Oluwatomi Somefun won the 2019 Top 25 CEOs Next Bulls award in recognition of the bank’s stellar performance on the Nigerian Stock Exchange (NSE). The award came to her in recognition of the bank’s sterling performance for the year, as its stock appreciated 101.89% in the year, making it one of the best-performing stocks on the NSE.

She was also listed among the top 25 most distinguished Chief Executive Officers of quoted Nigerian companies for the 2015 financial year.

She also won the top BusinessDay Top 25 CEOs award in 2019.  

4. Miriam Olusanya – CEO, GTBank

Miriam Olusanya, a graduate of Pharmacy from the University of Ibadan, transitioned into banking in 1998 when she joined Guaranty Trust Bank (GTB) as an executive trainee. Over the years, she ascended through various roles, including Group Treasurer and Head of Wholesale Banking, where she demonstrated her prowess in financial markets, treasury management, and strategic banking operations.

In 2021, Olusanya made history by becoming the first female Managing Director of GTB, succeeding Segun Agbaje. Under her leadership, the bank has focused on enhancing its digital banking services and maintaining its leadership in the African financial market. Her strong leadership in these areas underscores her reputation as one of the most influential figures in the Nigerian banking industry.

Olusanya’s contributions to the banking sector were recognized in 2023 when she was awarded the prestigious national honor of Officer of the Order of the Niger (OON) by President Muhammadu Buhari. This accolade highlights her significant impact on the financial landscape in Nigeria.

5. Yemisi Edun – CEO, First City Monument Bank (FCMB)

Yemisi Edun, a distinguished financial expert, is a Fellow of the Institute of Chartered Accountants of Nigeria and a Chartered Financial Analyst (CFA). Her extensive professional qualifications include being an Associate Member of the Chartered Institute of Stockbrokers, Associate Member of the Institute of Taxation of Nigeria, and a Certified Information Systems Auditor. Edun’s expertise is also recognized internationally as a member of Information Systems Audit and Control, USA.

She began her illustrious career in 1987 with Akintola Williams Deloitte, where she focused on corporate finance and the audit of banks and financial institutions. This role laid the foundation for her future endeavors in the banking sector. She joined First City Monument Bank (FCMB) in 2000, initially serving as Divisional Head of Internal Audit and Control, before progressing to Chief Financial Officer. Her financial acumen contributed significantly to the bank’s growth.

In May 2021, Yemisi Edun was appointed Managing Director of FCMB, following approval by the Central Bank of Nigeria (CBN). Under her leadership, FCMB has enhanced its focus on SME financing, a move that has earned the bank international recognition for its contributions to small businesses and economic development.

6. Halima Buba – CEO, SunTrust Bank

Halima Buba is a distinguished leader in Nigeria’s banking industry, serving as the Managing Director/Chief Executive Officer of SunTrust Bank Nigeria Limited. With over 22 years of experience in banking, she has held significant roles in prominent institutions such as Allstates Trust Bank, Zenith Bank, Inland Bank Plc, Oceanic Bank Plc, and Ecobank Nigeria Limited. As one of the few women to rise to the position of MD in Nigeria’s banking sector, she has become a trailblazer for gender representation in finance.

Before her appointment at SunTrust, Halima co-founded Taj Consortium, an organization of technocrats and financial experts, where she served as Executive Director. Her leadership also extends to several boards, including Anchoria Asset Management Company Limited as Non-Executive Director and NSIA Umuahia Diagnosis Centre (NUDC), where she serves as Chairman. Additionally, she has served as Non-Executive Director on the board of the Nigerian Sovereign Investment Authority (NSIA) and Adamawa Homes and Savings Ltd.

Halima holds a B.Sc. in Business Management and an MBA from the University of Maiduguri. She has furthered her education through the Lagos Business School Senior Management Programme and is recognized as an Honorary Fellow of the Chartered Institute of Bankers. Additionally, she is a Fellow of the Institute of Management Consultants and an Honorary Senior Member of the Institute of Directors of Nigeria (IoD).