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

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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.

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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).

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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).

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READ ALSO: All You Need To Know About Zenith Bank’s First Female GMD

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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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READ ALSO: JUST IN: Zenith Bank Appoints First Female GMD

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.

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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

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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

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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.
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Nigerian Jailed Six Years In U.S. For Sextortion

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Imoleayo Samuel Aina, also known as “Alice Dave,” a 27-year-old Nigerian national, has been sentenced to six years in federal prison following his conviction on multiple charges connected to the sexual extortion and subsequent death of a young man in Pennsylvania.

The sentence, handed down by United States District Judge Joel H. Slomsky, includes 72 months of incarceration, five years of supervised release, and a restitution payment of $3,250. Aina had earlier pleaded guilty to cyberstalking, interstate threats to injure reputation, receiving proceeds of extortion, conspiracy to commit money laundering, and wire fraud.

Aina and his co-defendant, Samuel Olasunkanmi Abiodun, were initially arrested in Nigeria in July 2024 and subsequently extradited to the United States. Another co-defendant, Afeez Olatunji Adewale, remains in Nigeria pending extradition. Abiodun, 26, was sentenced to five years in June 2025 for his role in money laundering and wire fraud related to the same sextortion scheme.

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U.S. Attorney David Metcalf described Aina as “the driving force behind this sextortion scheme, which left a young man, and then his family, traumatised.” He added, “The Department of Justice won’t just stand by when innocent victims in the U.S. are harmed by criminal scammers overseas. As this case shows, we can — and we will — find, prosecute, and hold accountable these insidious sextortionists who terrorise people for money.”

Wayne A. Jacobs, Special Agent in Charge of the FBI’s Philadelphia Field Office, emphasised the wider message of the prosecution. “This case is a powerful reminder of the profound harm sextortion inflicts on young people and their families, and of our unwavering commitment to pursuing those who perpetrate it.

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“Whether you are in the United States or operating from abroad, the FBI and our partners will relentlessly pursue you. If you exploit our youth, we will bring you to justice.”

READ ALSO:‘My Husband’s Neglect Of Me Led Me Into An Affair With Another Man’

The investigation, conducted jointly by the FBI and the Abington Township Police Department, was supported by multiple international and Nigerian authorities, including Nigeria’s Attorney General, the Economic and Financial Crimes Commission, and the Ministry of Justice’s International Criminal Justice Cooperation Department.

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Aina’s co-defendants played complementary roles in the scheme. Abiodun functioned as the financial intermediary, while Adewale, who remains in Nigeria, faces charges of money laundering conspiracy and wire fraud.

Assistant United States Attorney Patrick Brown, prosecuting the case, noted the international collaboration required to secure Aina’s extradition and conviction. “This prosecution demonstrates that national borders do not shield those who exploit and defraud others. Those who choose to target the vulnerable should understand that justice will reach them, regardless of location,” he said.

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UK Ends Automatic Benefits For Asylum Seekers In Major Reform

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Britain’s interior minister on Sunday defended plans to drastically reduce protections for refugees and end automatic benefits for asylum seekers, insisting that irregular migration was “tearing our country apart”.

The measures, modelled on Denmark’s strict asylum system, aim to stop thousands of migrants from arriving in England from northern France on small boats — crossings that are fuelling support for the anti-immigrant Reform UK party.

But the proposals were criticised as “harsh and unnecessary” by the Refugee Council charity and are likely to be opposed by left-wing lawmakers within Prime Minister Keir Starmer‘s embattled Labour government.

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“I really reject this idea that dealing with this problem is somehow engaging in far-right talking points,” Home Secretary Shabana Mahmood told BBC television.

“This is a moral mission for me, because I can see illegal migration is tearing our country apart, it is dividing communities.”

Presently, those given refugee status have it for five years, after which they can apply for indefinite leave to remain and eventually citizenship.

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But Mahmood’s ministry, known as the Home Office, said it would cut the length of refugee status to 30 months.

That protection will be “regularly reviewed” and refugees will be forced to return to their home countries once they are deemed safe, it added.

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The ministry also said that it intended to make those refugees who were granted asylum wait 20 years before applying to be allowed to live in the UK long-term, up from the current five years.

It also announced that it would create “new safe and legal routes for genuine refugees” through “capped work and study routes”.

Asylum claims in Britain are at a record high, with some 111,000 applications made in the year to June 2025, according to official figures.

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The Home Office called the new proposals, which Mahmood will lay out in parliament on Monday, the “largest overhaul of asylum policy in modern times”.

READ ALSO:UK Police Hunt Asylum Seeker Mistakenly Freed For Sex Offence

It said the reforms would make it less attractive for irregular migrants to come to Britain, and make it easier to remove those already in the country.

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– Benefits crackdown –

A statutory legal duty to provide support to asylum seekers, introduced in a 2005 law, would also be revoked, the Home Office said.

That means housing and weekly financial allowances would no longer be guaranteed for asylum seekers.
It would be “discretionary”, meaning the government could deny assistance to any asylum seeker who could work or support themselves but did not, or those who committed crimes.

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Starmer, elected in July 2024, is under pressure to stop migrants crossing the Channel in small boats from France, something that also troubled his Conservative predecessors.

More than 39,000 people, many fleeing conflict, have arrived this year following such dangerous journeys — more than for the whole of 2024 but lower than the record set in 2022.

Reform, led by firebrand Nigel Farage, has led Labour by double-digit margins in opinion polls for most of this year.

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Enver Solomon, chief executive of the Refugee Council, urged the government to rethink its plans, saying they “will not deter” the crossings.

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They should ensure that refugees who work hard and contribute to Britain can build secure, settled lives and give back to their communities,” he said.

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Labour is taking inspiration from Denmark’s coalition government — led by the centre-left Social Democrats — which has implemented some of the strictest migration policies in Europe.

Senior British officials recently visited the Scandinavian country, where successful asylum claims are at a 40-year-low.

Refugees in Denmark are entitled to a one-year renewable residency permit, and are encouraged to return home as soon as authorities deem there is no longer a need for a safe haven.

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Family reunions are also subject to strict requirements, including a minimum age for both parents, language tests and guarantees of funds.

Labour’s more left-wing lawmakers will probably oppose the plans, fearing that the party is losing voters to progressive alternatives such as the Greens.

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Overcrowding, Security Lapses Plague Nigerian Prisons —EU

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A report by the European Union Agency for Asylum has revealed that Nigeria’s custodial centres are battling “escalating security challenges.”

The report, sighted by Sunday PUNCH, was published in November 2025. It documented a decade-long pattern of prison escapes in the country, explaining why the custodial centres are confronting rising jailbreaks, citing persistent security lapses.

Over the past decade, Nigeria has experienced a pattern of prison jailbreaks, resulting in thousands of inmates escaping correctional facilities nationwide,” the report noted.

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Highlighting systemic weaknesses, the report cited overcrowding, structural deficiencies, and chronic underfunding as major contributors to the problem.

One incident occurred in March 2025, when 12 inmates escaped from the Koton Karfe Medium Security Custodial Centre in Kogi State. Only five were recaptured.

“This marked the fourth jailbreak at this facility in 13 years, where nearly 700 inmates have fled, including about 100 freed during a 2012 Boko Haram attack,” it stated.

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Observers attribute the recurring breakouts to “security gaps, together with possible insider complicity, which exacerbate the prisons’ vulnerabilities, especially amid attacks by armed groups like Boko Haram.”

Beyond security concerns, the report said overcrowding and poor infrastructure continued to strain the country’s correctional system.

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“The country’s more than 240 prisons currently house over 80,000 inmates, with two-thirds awaiting trial.

“The observers also point to systemic issues such as overcrowding, outdated infrastructure, poor inmate conditions, slow judicial processes, and widespread corruption,” the report said.

“International bodies have also criticised the state of Nigeria’s detention system,” it stated.

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Following a September 2024 visit, the United Nations Subcommittee on Prevention of Torture described conditions in detention centres as “abysmal,” citing inadequate food, healthcare, and sanitation.

READ ALSO:Anambra: EU Deploys 687 Observers Ahead Of Saturday Gov Election

“Their assessment described conditions in most detention facilities as ‘abysmal.’ Additionally, Nigeria had not yet established a National Preventive Mechanism as required under the Optional Protocol to the Convention against Torture, which Nigeria ratified in 2009.

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“The Subcommittee called on Nigeria to urgently implement measures to prevent torture and ill-treatment, improve detention conditions—particularly in police stations and similar facilities—and enforce legal safeguards to end impunity for perpetrators of torture,” the report read.

The report also raised concerns over the continued use of the death penalty.

It added, “In Nigeria, the death penalty is a ‘lawful punishment’ imposed nationwide, including for offences that do not meet the threshold of ‘most serious crimes’ under international law.

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“Although no executions have been carried out since 2016, courts across the country still regularly issue death sentences. In 2023, Nigerian courts issued over 246 new death sentences, raising the total number of individuals on death row to more than 3,413.”

In May 2024, the Senate proposed a bill to increase the maximum penalty for drug trafficking from life imprisonment to death, a move that has faced opposition from various stakeholders, including legislators, the United Nations Office on Drugs and Crime country representative, as well as activists and legal professionals.

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Such a proposal has reignited debate over the continued use of the death penalty in the country, with some authorities questioning the sustainability of retaining capital punishment.

“Further, although legal provisions allow for commutation of sentences by governors or chief judges after extended incarceration, inconsistencies in application have left many inmates in legal limbo,” said the report.

The Nigerian Correctional Service revealed in July 2025 that the country had 3,833 inmates on death row.

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The report further stated that the African Commission on Human and Peoples’ Rights has urged Nigeria to “impose a moratorium on executions, a stance supported by the European Union and United Nations.”

It added that the detention conditions remained “harsh,” falling short of United Nations minimum standards for prisoner treatment.

Media reports and information from the Nigerian Correctional Service website indicated that thousands of inmates have escaped from 13 custodial facilities between 2019 and 2025, including many awaiting trial for serious offences such as terrorism and armed robbery.

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In response to the ongoing wave of jailbreaks that has plagued custodial centres nationwide over the past years, the Controller General of the Nigerian Correctional Service, Sylvester Nwakuche, recently vowed to enforce strict disciplinary action against any officers found to have been negligent.

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