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

Published

2 months ago

March 22, 2024

Editor

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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Porn Star Testifies Against Trump At Hush Money Trial

Published

1 day ago

May 8, 2024

Editor

The porn star at the heart of Donald Trump’s historic criminal trial, Stormy Daniels, testified on Tuesday about an alleged 2006 sexual encounter with the former president in a hotel penthouse suite.

Trump, 77, is accused of falsifying business records to reimburse his lawyer, Michael Cohen, for a $130,000 hush money payment to Daniels on the eve of his 2016 election against Hillary Clinton, when the lurid story of marital infidelity could have sunk his campaign.

Prosecutor Susan Hoffinger announced “The people call Stormy Daniels,” as Trump, who is seeking to recapture the White House in November, sat at the defense table in the Manhattan courtroom flanked by his lawyers, AFP reports.

What followed was detailed testimony about the sexual encounter Daniels said she had with Trump – his pajamas, his boxer shorts, the sexual position, that he did not wear a condom – all while the former president, sitting just feet away, stared on in silence, stony-faced.

Trump has denied having sex with Daniels, and his defense team sought, unsuccessfully, to have a mistrial declared.

The extraordinary courtroom face-off comes six months before election day when Trump will try to defeat Democratic President Joe Biden.

Daniels walked prosecutors through her difficult childhood in Louisiana, a stint as a stripper and her eventually joining the adult film industry.

The 45-year-old, whose real name is Stephanie Clifford, said she met Trump at a celebrity golf tournament in Lake Tahoe where she was employed as a greeter by X-rated movie company Wicked Entertainment.

Daniels said she was 27 at the time and Trump was “probably older than my father.”

She said a member of Trump’s security detail told her the real estate tycoon wanted to have dinner with her. She was reluctant but agreed after discussing it with her publicist.

When she arrived at the penthouse where Trump was staying he emerged wearing “silk or satin pajamas which I immediately made fun of,” Daniels told the jury.

“I said ‘Does Mr Hefner know you stole his pajamas?’” she said in a reference to the outfit favored by the late Playboy magazine founder Hugh Hefner.

Trump changed clothes and they began talking about adult movies.

“He was very interested in a lot of the business stuff,” Daniels said.

Trump, who was married at the time to his current wife, Melania, suggested Daniels be on his hit reality television show, “The Apprentice,” she said.

Daniels said she went to the bathroom at one point and when she emerged Trump was on the bed in boxer shorts and a T-shirt.

“It startled me,” she said. “The intention was pretty clear.”

“I was not threatened verbally or physically,” Daniels said, although there was an “imbalance of power.”

She said they had brief sex on the bed “in missionary position” and Trump did not wear a condom.

“I felt ashamed I didn’t stop it, didn’t say no,” Daniels said.

Daniels said she met with Trump again on several occasions but cut off contact when it became clear she would not appear on “The Apprentice.”

After Trump announced his candidacy for president, Daniels said her publicist suggested she could sell her story and put her in touch with Keith Davidson, a Hollywood lawyer who testified previously at the trial.

“My motivation wasn’t money, it was to get the story out,” Daniels said.

She said she entered into a non-disclosure agreement in October 2016 on the eve of the presidential election negotiated by Davidson and Cohen for which she was paid $130,000.

“I couldn’t tell my story, he couldn’t tell the story,” she said.

After a lunch break, Trump’s attorney Todd Blanche asked Judge Juan Merchan to declare a mistrial, objecting to some of Daniels’ testimony, particularly her claim that she was threatened in 2011 by a man in a Las Vegas parking garage who allegedly warned her not to talk about Trump.

“It’s extremely prejudicial to insert safety concerns into a trial about business records,” Blanche said.

Merchan denied the motion, saying “I don’t think we have reached a point where a mistrial is in order.”

Trump is under a partial gag order prohibiting him from publicly attacking witnesses, the jury or court staff.

Merchan has already fined him $10,000 for breaching the gag order and warned Trump he may face jail time for future violations.

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Naira Abuse: Trouble Looms As Group Petitions EFCC, Wants Edo APC Candidate Prosecuted

Published

1 day ago

May 8, 2024

Editor

The All Progressives Congress candidate in the September 21 governorship election in Edo State, Monday Okpebholo, is at risk of being sentenced to six- months imprisonment in line with the Central Bank of Nigeria Act of 2007 as a coalition of civil society organisations under the aegis of the Network of Civil Society Organisations in Nigeria accused him of abusing the Nigerian currency, the naira.

The group lodged the complaint with the Economic and Financial Crimes Commission against Okpebholo in a petition dated May 2, 2024, and addressed to the chairman of the EFCC.

The petition was signed by the group’s National Coordinator, Victor Kalu, and National Secretary, Ali Abacha.

The coalition claimed the senator is guilty of the offence of naira abuse and mutilation, citing the CBN Act of 2007, which declares such actions as punishable offences.

The coalition said it is “disappointment that prominent individuals, including lawmakers, have violated this provision of the CBN Act.”

Meanwhile, they commended the EFCC for its “swift response in arresting and charging individuals who have been caught on viral videos abusing and defacing the Naira at social events such as the cases of Mr Okuneye Idris Olarewaju, popularly known as Bobrisky, and Mr Pascal Okechukwu, also known as Cubana Chief Priest, who have faced legal consequences for their actions.”

While praising the EFCC for its actions, the coalition demanded that all individuals captured in viral videos abusing the Naira should be promptly arrested and brought to justice, as no one is above the law.

They called on the EFCC and other law enforcement agencies to investigate the “viral video involving Senator Monday Okpebholo, who is seen engaging in Naira abuse and mutilation.”

They added that Okpebholo should be held accountable for his actions as a representative of the people.

They, however, warned that failure to address the viral video involving Okpebholo would result in the coalition taking further actions.

They threatened to mobilise their members, supporters, and democracy advocates for a peaceful protest against the EFCC, citing selective action and bias if the EFCC failed to address the viral video involving Okpebholo.

In his response, the senator refuted the allegation, saying it was false.

Okpebholo, in a statement issued in Abuja on Tuesday, described the allegation as a hatchet job targeted at smearing his image ahead of the September governorship election.

He blamed his detractors and the opposition camp as being the brain behind the campaign of calumny.

While stressing that he has never been arrested by the police for any civil or criminal offence, the lawmaker insisted the man in the video circulating on social media was not him.

He said, “As a private and public person, I have never sprayed or mutilated the naira in my over 50 years on earth. It baffles me why these agents will fabricate fake news to tarnish my image ahead of the election. I therefore called on the IGP to investigate the faces behind the petition and prosecute them accordingly.

“They are scouting for fake news and non-existent things to blackmail me and lie to Edo people. Unfortunately, we know what they are up to. They are smelling the defeat already. Edo people have already decided, and no amount of State-sponsored intimidation will work.

“In Edo State, President Bola Tinubu-led APC administration is working. The federal government is reconstructing federal roads in Edo Central, Edo North, and Edo South. That is why Edo people must take sides with the APC and vote for me as the next governor of Edo State.

“We will bring the Federal Government closer to the Edo people. We have been isolated for too long, and it is time to end that alienation.”
PUNCH

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Mother Throws Disabled 6-year-old Son Into Crocodile Infested River [PHOTOS]

Published

2 days ago

May 7, 2024

Editor

A mother has thrown her disabled six-year-old son into a crocodile-infested river where he has reportedly been mauled to death by reptiles.

Savitri Kumar, 26, from Uttara Kannada, a district in Karnataka, India, had a heated argument with the boy’s father, Ravi Kumar, 27, who repeatedly ordered her to “throw the child away,” the Times of India reports.

Police say her husband allegedly questioned her decision to give birth to a child with a disability.

When the parents fought about their son again on Saturday evening, May 4, Savitri was “distressed” and reportedly threw her son into a waste canal that flows into the Kali river, which is infested with crocodiles.

Father of the son

Neighbours who witnessed this called the police, who deployed divers to search for the boy in the water, but to no avail, as it was dark.

They returned on Sunday morning, May 5, and found the child’s body, which showed bite marks all over.

The boy suffered severe injuries and was missing a hand, which a police officer suggested indicated that the boy was mauled to death by one or more crocodiles.

A post mortem has been ordered to determine the six-year-old’s cause of death.