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Leading Ladies: Meet 10 Female CEOs Shaping Nigeria’s Banking Sector [PHOTOS]

Published

1 month ago

March 22, 2024

As the world celebrates women across the globe for their contributions in all spheres of life in March, it is pertinent to recognise some amazing female leaders in Nigeria’s banking sector.

In the banking sector, there are 10 female managing directors and chief executive officers, CEOs, calling the shots in the board rooms

This article focuses on the amazing profiles of these women overseeing the affairs of commercial banks in Nigeria.

1. Tomi Somefun – Unity Bank

Tomi Somefun

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.

Somefun began 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.

2. Kafilat Araoye – Lotus Bank

Kafilat Araoye

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).

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.

3. Dr Adaora Umeoji – Zenith Bank

Dr Adaora Umeoji

Dr Adaora Umeoji has been appointed as the new GMD/CEO of Zenith Bank according to a statement filed with the Nigerian Exchange Limited on Tuesday, 19 March 2024.

Umeoji’s appointment will take effect from 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.

4. Ireti Samuel-Ogbu – CitiBank

Dr Adaora Umeoji

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, focussing her leadership on providing innovative financial solutions and leveraging technology to enhance customer experience.

5. Bukola Smith – FSDH Merchant Bank

Bukola Smith

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.

6. Miriam Olusanya – GTBank

Miriam Olusanya

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.

7. Nneka Onyeali-Ikpe – Fidelity Bank

Dr. Nneka Onyeali-Ikpe

Dr. 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.

8. Yemisi Edun – FCMB

Yemisi Edun

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.

9. Halima Buba – SunTrust Bank

Yemisi Edun

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’, recognising their crucial role in driving Nigeria’s economic growth.

10. Yetunde Oni – Union Bank

Yetunde Oni

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.
VANGUARD

Related Topics:#Banks Bank GTBank Union Bank

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Sad Story: Nigerian Who Relocated To UK In 2022 Beat Wife To Death With Skateboard

Published

16 hours ago

April 26, 2024

Editor

A United Kingdom-based Nigerian man, Olubunmi Abodunde, has beaten his wife, Taiwo, to death with their son’s skateboard, Daily Mail reports.

The couple, who had three children, arrived in the UK from Nigeria in 2022 and always clashed over alleged affairs and arguments about bills.

According to the news platform, 48-year-old Abodunde had been repeatedly investigated by Suffolk Police about domestic violence and was due to go on trial for murder but changed his plea to guilty on Wednesday after a jury had been sworn in.

During the abuse, officers heard ‘a number of bangs’ inside the house, which Abodunde had gone into, despite bail conditions imposed the day before that banned him from the property following another violent episode.

When they finally entered 25 minutes later, they found the wife, 41-year-old Taiwo, with her ‘skull smashed in’.

However, Judge Martyn Levett, sitting at Ipswich Crown Court, warned him the only possible sentence was life imprisonment.

Suffolk Constabulary has referred itself to the Independent Office of Police Conduct, which confirmed three officers were under investigation.

An IOPC spokesman said, “We advised two Suffolk officers that they are under investigation for potential breaches of the police standards of professional behaviour at the level of gross misconduct.

“We advised another officer that they are under investigation at the level of misconduct.”

Abodunde had a history of jealousy and suspicion and accused his wife of having affairs. He had been investigated by police a number of times over alleged domestic violence incidents before his wife’s death.

He was arrested on April 27 last year when police arrived at the couple’s home in Newmarket, Suffolk, and found Mrs Abodunde with a split lip.

Later that day, he was freed on police bail with the condition that he stayed away from the marital home and didn’t approach his wife.

But after working a night shift at Tesco, he went home just after 9 am to allegedly pick up his mobile phone.

Two officers arrived at 9.20 am to take a statement from Mrs Abodunde about the previous night’s incident and heard repeated banging noises inside.

But it wasn’t until 9.55 am that they forced their way in after getting approval from senior officers and found Mrs Abodunde ‘obviously dead’ near the front door.

A post-mortem examination later showed she had been throttled until she fell unconscious, then stamped on until her ribs were broken before her husband used the skateboard to finish her off. The blows were so violent that the skateboard was damaged.

Prosecutor Simon Spence KC told the court the banging officers heard was likely to have been Abodunde continuing to attack his wife after she was unconscious or dead.

Mrs Abodunde had a job as a care home assistant in Cambridge, but her husband, who had trained as a civil engineer, was unable to find work in his profession and took shifts at Tesco and Wickes.

After his arrest for the murder, Abodunde was taken to hospital “because he appeared to have some sort of mental episode”.

He later claimed in a police statement he had acted in self-defence, saying, “My wife has subjected me to physical abuse for a number of years.

“On November 28, we got into an argument. She ran at me with a knife, I grabbed the knife and cut my hand. I was defending myself.”

But the court heard while he did have an injury to his hand, there wasn’t a knife near his wife’s body.

Nneka Akudolu KC, defending, said the level of violence was ‘completely out of character’ for her client and might have been affected by medication he was taking. But she said no medical evidence would be provided to support this claim.

Detective Inspector Dan Connick, of Suffolk Police, said after the hearing, “This was an awful attack on a woman that has had a lasting impact on the community and, most importantly, on the victim’s family.

‘We are pleased that Taiwo’s family will no longer have to go through the pain of a trial.

‘Our thoughts remain with Taiwo’s family and friends and hope this result will bring some small comfort to them.’

Taiwo Abodunde worked for Cambridge Manor Care Home, which provides dementia care and residential and respite care.

A spokesman for the facility, which is owned by TLC Care, said: ‘We are all deeply shaken and upset by the tragic death of Taiwo, who was a much-loved member of our home community.

‘Our thoughts and deepest condolences are with her family. Taiwo always cared for those we support with compassion and kindness, and she will be greatly missed by all of us and our residents.’

Abodunde was remanded in custody and will be sentenced on May 9.

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GWR: Ghanian Student Sets New Record For Hugging 1,123 Trees In One Hour

Published

18 hours ago

April 26, 2024

Editor

A 29-year-old Ghanaian environmental activist and forestry student, Abubakar Tahiru, has etched his name in the Guinness Book of World Records by hugging 1,123 trees in one hour.

The Guinness World Record announced this on Friday, adding that Tahiru’s accomplishment not only makes him the record holder but also the first person to ever hold this title as he “easily surpassed the minimum requirement of 700.”

The event was said to have taken place at the Tuskegee National Forest in Alabama, USA, where he embraced nearly 19 trees per minute.

According to GWR, Tahiru grew up in a farming community in Tepa, Ghana, where he developed a keen interest in nature and its conservation.

After completing his undergraduate degree specialising in forestry at one of Ghana’s top universities, he moved to Alabama last year to begin his master’s degree in forestry at Auburn University.

Describing the challenge, GWR disclosed that a successful tree hug is defined as both arms wrapped around a tree in a close embrace. No tree may be hugged more than once, and no damage can be caused to any tree, or else the attempt is disqualified.

It further stated that Tahiru attempted this challenge while he was fasting during Ramadan, preventing him from drinking water despite the strenuous activity.

He also had to move quickly between trees while ensuring that each hug met the required standards.

Speaking with GWR, Tahiru said, “Not being able to drink water throughout the attempt posed a significant challenge, especially given the physical exertion required.

“However, this also proved to be helpful in a way, as there was no need to pause for water breaks, allowing me to continue the attempt uninterrupted from start to finish.

“Achieving this world record feels incredibly rewarding.”

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LIST: 25 Countries Where TikTok Is Banned

Published

19 hours ago

April 26, 2024

Editor

United States President Joe Biden recently signed a bill that could potentially result in the ban of TikTok in the US if its Chinese-owned parent company, ByteDance, fails to sell it within a year.

US lawmakers are concerned about the potential national security risks associated with the app, particularly if the Chinese government were to gain access to the data it collects.

Many countries have taken action to limit or ban TikTok, citing worries about privacy, security, or ethical issues.

Different approaches have been taken by various countries, with some implementing comprehensive restrictions and others focusing on particular features of the app or a partial ban on government devices.

Here is a list of countries that have implemented various forms of restrictions:

Countries with a complete ban

China

TikTok’s international version is not accessible within China. Instead, users are required to download Douyin, the Chinese counterpart of TikTok, which is subject to strict content control by the Chinese Communist Party.

Senegal

Senegal implemented a complete ban on the application following allegations that an opposition candidate had utilised the platform to disseminate “hateful and subversive messages.” The Senegalese government has declined to restore the app until a system is created that enables them to delete individual accounts.

Somalia

The Somali government officially outlawed TikTok, Telegram, and 1XBet, an online betting platform, in August 2023.

North Korea

Access to the internet is heavily restricted for the majority of North Korean citizens. While a select few websites and apps are allowed for the privileged elite, TikTok is not included in this list.

Afghanistan

In April 2022, the Taliban government decided to ban TikTok, citing concerns about its influence on young people.

India

India banned TikTok in 2020, including on personal devices, following a border clash between China and India in 2020. The ban was prompted by concerns about data theft and the government’s claim that certain apps were stealing. Many creators migrated to YouTube Shorts and Instagram Reels.

Iran

TikTok, along with other globally popular social media platforms like X and Facebook, has been banned by the Islamic Republic.

Uzbekistan

Since July 2021, TikTok has been inaccessible in Uzbekistan due to the authorities’ claim that the app does not adhere to the country’s personal data protection laws.

Countries with a partial ban on TikTok

Indonesia

In October 2023, Indonesia took action against TikTok Shop, a feature of the app that enables creators to sell products to their followers, due to its violation of the country’s e-commerce laws.

Kyrgyzstan

In August 2023, the small country, which was once part of the Soviet Union, decided to ban TikTok. The government justified this action by stating that the application harmed the growth and well-being of children.

Russia

There are limitations on the content that Russians can access on TikTok, resulting in a primary focus on videos created by Russian users. Recent reports indicate that the Russian government is planning to prohibit the use of TikTok, to promote the adoption of local social media platforms among its citizens.

Countries with bans on government-owned devices

In April 2023, the Australian government decided to ban TikTok on their devices. However, it remains accessible on devices owned by the general public.

Austria

In May 2023, TikTok was banned on all devices used by government employees in Austria.

Canada

On February 28, Canada banned the use of TikTok on all devices provided by the government because of concerns regarding privacy and security.

Denmark

In March 2023, Denmark’s Ministry of Defence decided to ban the use of the app on its employees’ work phones. Additionally, the country’s main public service broadcaster implemented specific protocols, requiring journalists to obtain special approval before using the app for reporting purposes. This action was taken in response to a warning from Denmark’s Centre for Cybersecurity.

Estonia

In March 2023, the use of TikTok on the work phones of state officials in Estonia was banned.

European Union

Employees of the European Parliament, European Commission, and E.U. Council are no longer allowed to have TikTok on their work phones, as the three main institutions of the E.U. implemented a ban.

France

In March of 2023, France banned the use of Twitter, Instagram, and TikTok on government employees’ mobile devices.

United Kingdom

In March 2023, the U.K. banned all government employees from using TikTok on government-provided mobile devices.

United States

The US military and US Congress have both taken action to block access to TikTok on all of their personnel’s devices.

Nearly half of the states have outright banned the app on state-owned devices, and in March 2023, the federal government followed suit.

Ireland

In April 2023, the Irish government implemented a ban on TikTok for use on government devices.

Belgium

The Belgian government announced in March 2024 the ban of the app on all government devices. TikTok remains accessible on devices not associated with government entities.

Taiwan

In December 2022, Taiwan implemented a ban on the usage of Chinese-made software, including TikTok, on all government devices. This decision came after a warning from the FBI.

Latvia

The Latvian Foreign Ministry banned the app from official company phones in March 2023.

Malta

In Malta, government-provided cell phones have restricted access to TikTok and other non-government applications.