Headline

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

Published

1 year 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

Up Next

At least 40 Dead In Concert Shooting

Don't Miss

Princess Of Wales, Catherine Diagnosed With Cancer

Comments

Headline

Relief For Applicants As Germany Eases Visa Process, Opens Visa Centres In Nigeria, Others

Published

12 minutes ago

August 6, 2025

Editor

Germany has expanded its Schengen visa services by launching four new application centres in Africa and the Middle East, including two in Nigeria.

The centres, located in Abuja, Lagos (Nigeria), Yaoundé (Cameroon), and Nicosia (Cyprus), are part of a new seven-year partnership between Germany’s Federal Foreign Office and VFS Global, the international visa processing firm.

Until now, Nigerians applying for German Schengen visas had to go through the German Embassy in Abuja or the Consulate General in Lagos, where limited capacity and high demand often caused delays and long appointment wait times.

The new visa centres are expected to significantly ease the process, cut down on waiting periods, and improve overall access for applicants.

Germany continues to be a major destination for Africans and Middle Easterners pursuing education, healthcare, tourism, and job opportunities.

Meanwhile, VFS Global has issued a warning to the public about fake websites and individuals offering fraudulent visa appointments for a fee.

Recent figures indicate Nigeria had a 45.9% Schengen visa rejection rate in 2024—the third-highest globally after Bangladesh.

Headline

Top 10 Countries With Declining Population

Published

15 minutes ago

August 6, 2025

Editor

In 2025, while many countries are battling overcrowding, a growing number of countries are quietly shrinking in terms of population.

Driven by low fertility rates, aging populations, and high emigration, the population decline in countries like Saint Martin, Cook Islands, and Marshall Islands is raising alarm bells.

This report explores the top 10 countries facing rapid depopulation and what it means for their future stability.

Saint Martin

Saint Martin, a French overseas collectivity in the Caribbean, is facing one of the fastest population declines in the world, with its population estimated at around 25, 000 as of early 2025 a sharp drop of about 4.5% annually. The decline, which began after Hurricane Irma devastated the island in 2017, is driven mainly by negative net migration, as more than 1,200 people mostly young adults leave each year in search of better opportunities. At the same time, birth rates are falling, the median age has risen to 42, and fewer young families are staying to contribute to the economy. This demographic shift is already affecting the island’s workforce, economy, and public services, with vacant homes and underused facilities signaling deeper challenges ahead. Without urgent measures to attract investment, create jobs, and retain residents, Saint Martin risks long-term social and economic instability.

Cook Islands

The Cook Islands, a small Pacific island nation and New Zealand territory, is experiencing one of the fastest population declines in the world, with its population dropping to around 17,000 as of 2025. This sharp decrease is largely due to high emigration rates, as citizens—especially young people—leave for better job opportunities, education, and healthcare in New Zealand and Australia, where they hold full citizenship. The situation is worsened by low birth rates, an aging population, and the depopulation of many outer islands, with most residents relocating to the capital, Rarotonga, or moving abroad entirely. The government has responded by trying to attract returnees, improve infrastructure, and strengthen the economy through tourism and investment, but these efforts struggle to compete with the advantages offered overseas. As a result, the Cook Islands now faces serious challenges related to workforce shortages, cultural preservation, and long-term sustainability.

Marshall Islands

The Marshall Islands, a small Pacific island nation, is facing a significant population decline in 2025, with its population dropping to around 41,500 from over 53,000 in previous decades, placing it among the top 10 countries with shrinking populations. This decline is largely due to mass migration to the United States under the Compact of Free Association (COFA), as citizens seek better opportunities, healthcare, and education in states like Arkansas and Hawaii. Economic hardship, limited infrastructure, and worsening climate conditions such as rising sea levels, frequent flooding, and freshwater scarcity are key drivers of this exodus. As more young and skilled individuals leave, the country is dealing with labor shortages, brain drain, and growing dependency on international aid. Without urgent action to improve living conditions and address climate threats, the population is expected to continue declining, posing serious risks to the nation’s long-term survival.

Greece

Greece is experiencing a sharp population decline, with numbers falling to 10.1 million in 2025 from over 11 million, driven by low birth rates, an aging population, and youth emigration following the 2009 financial crisis. The country now faces more deaths than births each year, while many rural areas are becoming depopulated. Despite government efforts like family incentives and returnee campaigns, the impact has been limited. Experts warn that if the trend continues, Greece’s population could fall below 9 million by 2050, threatening its workforce, economy, and long-term stability.

Northern Mariana Islands

The Northern Mariana Islands, a U.S. commonwealth in the Pacific, is among the top 10 countries with declining populations. As of 2025, its population is estimated at around 47,000, a significant decrease driven by outmigration, low birth rates, and economic challenges. Many residents have left the islands in search of better job opportunities in the mainland United States, especially after the decline of the garment industry and the devastation caused by typhoons in recent years. The shrinking population has raised concerns about labor shortages, economic sustainability, and the future of public services in the territory.

Tuvalu

Tuvalu, a small island nation in the Pacific Ocean, is facing a steady population decline, placing it among the top 10 countries with shrinking populations. With an estimated population of just over 11,000 in 2025, the country has seen increasing emigration due to limited economic opportunities, rising sea levels, and concerns over climate change. Many Tuvaluans are relocating to countries like New Zealand and Australia under special migration programs, seeking better living conditions and job prospects. The declining population poses serious challenges for Tuvalu’s local economy, cultural preservation, and long-term national viability as climate threats continue to loom.

American Samoa

American Samoa, an unincorporated territory of the United States in the South Pacific, ranks among the top 10 countries with declining populations. As of 2025, its population is estimated at around 45,000, continuing a downward trend driven by high emigration rates, especially among youth seeking education, employment, and better healthcare in the U.S. mainland. The territory also struggles with low birth rates and limited economic growth, leading many families to leave in search of improved opportunities. This ongoing population decline raises concerns about workforce shortages, reduced economic activity, and challenges in maintaining public infrastructure and cultural traditions.

Moldova

Moldova, a landlocked country in Eastern Europe, is one of the top 10 nations with the fastest-declining populations. As of 2025, its population has dropped to around 2.4 million, significantly lower than in past decades. This sharp decline is largely due to mass emigration, as millions of Moldovans have left for better economic opportunities in countries like Romania, Italy, and Germany. Combined with a low birth rate and an aging population, the country faces a demographic crisis that threatens its labor force, economic growth, and social services. Moldova’s shrinking population is a major concern for its future development and national stability

The Czech Republic, despite its strong economy and central location in Europe, is experiencing a gradual population decline, placing it among the top 10 countries facing this trend. As of 2025, the population is estimated at around 10.5 million, with projections showing a steady decrease in the coming years. This decline is primarily driven by a persistently low birth rate and an aging population, as younger generations delay starting families or have fewer children. Although immigration has helped offset losses in the past, it is no longer sufficient to maintain long-term population growth. The demographic shift poses challenges for the country’s pension system, healthcare services, and labor market sustainability.

Estonia

Estonia, a Baltic nation in Northern Europe, ranks among the top 10 countries with a declining population. As of 2025, its population is estimated at around 1.3 million, a result of low birth rates, an aging population, and years of emigration, especially following its independence from the Soviet Union. While recent efforts to attract skilled immigrants and support families have seen some success, the overall trend remains downward. The shrinking population raises concerns about future labor shortages, rural depopulation, and strain on the welfare and healthcare systems. Estonia’s government continues to explore policy solutions to reverse or slow this demographic decline.

Headline

The Walking Dead’ Actress Kelley Mack Is Dead

Published

24 minutes ago

August 6, 2025

Editor

American actress, Kelley Mack, known for her roles in The Walking Dead and Chicago Med, is dead.

The 33-year-old Mack, born Kelley Klebenow, passed away on Saturday in her hometown of Cincinnati, Ohio.

Her death was confirmed in a statement posted on her official Instagram page, #itskelleymack, on Wednesday.

“It is with indelible sadness that we are announcing the passing of our dear Kelley.

“Such a bright, fervent light has transitioned to the beyond, where we all eventually must go.

“Kelley passed peacefully on Saturday evening with her loving mother Kristen and steadfast aunt Karen present.

“Kelley has already come to many of her loved ones in the form of various butterflies.

“She will be missed by so many to depths that words cannot express.

“Kelley’s Caringbridge link in her bio includes the 2-page formal announcement with information on her upcoming life celebration in Ohio on August 16th.

“She would want you all to know how much she loves you.

“And as her sister, I want you all to know how brave that tough SOB was, especially when she decided to make the leap to be reunited with God. I’m so fucking proud of her,” the statement read.

Mack’s acting career began at a young age and flourished with appearances in high-profile television shows and commercials.

She gained recognition for her role as Addy in AMC’s The Walking Dead and later played Penelope Jacobs in NBC’s Chicago Med.

In addition to her on-screen performances, she also built a strong presence in voice-over work and featured in campaigns for major commercial brands.

In January 2025, Mack disclosed in an Instagram post that she had been diagnosed with diffuse midline glioma, “an extremely rare type of astrocytoma cancer,” after suffering from persistent back pain and leg issues.

“Due to the biopsy surgery on my spinal cord, I have lost the use of my right leg and most of my left leg, so I now get around with a walker and a wheelchair,” she wrote at the time.

A memorial service in her honour will be held on August 16 at the Glendale Lyceum in Glendale, Ohio.

A separate celebration of life is also planned in Los Angeles to pay tribute to her impact on the entertainment industry.