By Eric Elezuo

Of the 24 commercial banks in Nigeria, it is heartwarming to know that women occupy the helm of affairs in 11 banks. This is a statement of the no holds barred status of the female folks in the economic advancement of the world, with special emphasis to Nigeria.

Below are a testament of the feats of the Nigerian amazons calling the shots in various commercial banks.

ADAORA UMEOJI – ZENITH BANK

On June 1, 2024, the newest kid on the block in the banking world, Dame (Dr.) Adaora Umeoji, mounted the topmost echelon of the Zenith Bank brand as its Group Managing Director/Chief Executive Officer. She is the first female to ever hold the position in the near three decades history of the bank. The Amazon has spent 26 years of her total 30 years in the banking world with Zenith.

Umeoji’s ascendancy to the number one position of one of Nigeria’s most prolific banks was not a fluke. Many has described her sojourn to such great height as nothing compared to a walk in the park. She came prepared. She has over the years, seen and conquered, granting her unfettered leverage to kiss the reward of hardwork.

Her appointment was a fulfillment of well orchestrated analysis. Umeoji took over from Dr. Ebenezer Onyeagwu, whose time in office expired on May 31.

With this appointment, the admixture of brain and beauty, swells the number as well as join the ranks of female bank MDs in Nigeria, a pack she arguably leads, considering the market value of Zenith, which has continued to soar ever since her appointment was announced.

Before her appointment however, Umeoji has been the Deputy Managing Director of the bank since October 28, 2016 and has close to 30 years of banking experience of which  26 years has been with Zenith Bank.

In February 2023, Dame (Dr.) Adaora Umeoji, who also has a national honour of OON, and then Deputy Managing Director of the bank emerged The Humanitarian Services Icon of the Year at The Sun Awards, in recognition of not just for her outstanding banking career and contributions to the development of an effective Nigerian financial services sector, but more importantly for her many philanthropic works and a sustained commitment over the years to improve the lives of less privileged persons.

A career banker notwithstanding, Umeoji has her hands in many welfarist pies including ownership of Pink Breath Cancer Care Foundation, which undertakes several healthcare programs annually within the six geopolitical zones of Nigeria.

The Foundation provides the much needed medical care for persons living with cancer and other ailments. She also donates relief materials and provides free healthcare to internally displaced persons nationwide, through several other intervention initiatives.

Among her recent philanthropic gestures eas the donation of a Church building to the Catholic Archdiocese of Abuja. She also holds Yuletide programmes running for close to two decades now, and have positively impacted the lives of over 5,000 indigent children.

Dame (Dr.) Adaora Umeoji, OON, is a Peace Advocate of the United Nations (UN-POLAC), a Lady of the Order of Knights of St. John International (KSJI) and a Papal Knight of the Order of St. Sylvester. In 2022, the Federal Government of Nigeria honoured her with the national award of Officer of the Order of the Niger (OON), in recognition of her contributions to nation building.

Umeoji is an alumnus of the prestigious Harvard Business School where she attended the Advanced Management Program (AMP) and 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 honors in Law from Baze University, Abuja. She holds a Master of Laws from the University of Salford, United Kingdom, a Master in Business Administration (MBA) from the University of Calabar, and also has a doctorate in business administration from Apollos University, USA.

She 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. She also attended the executive program in Strategic Management, and has a Certificate in Leading Global Business all from Harvard Business School, USA.

She is a fellow of notable professional bodies including the Chartered Banker Institute, UK, Chartered Institute of Bankers of Nigeria, Nigerian Institute of Management, Institute of Credit Administration, Institute of Certified Public Accountants of Nigeria, Institute of Chartered Mediators and Conciliators, and the Institute of Chartered Secretaries and Administrators of Nigeria among others.

In 2022, the Federal Government of Nigeria honored Dr. Umeoji with Officer of the Order of the Niger, as a recognition of her contributions to nation building. She is a Peace Advocate of the United Nations (UN-POLAC).

At 52 years, Umeoji, who is happily married and blessed with children, can easily be passed for a 30-year-old lady as a result of her well kept beauty and physic.

NNEKA ONYEALI-IKPE – FIDELITY BANK

No doubt, Mrs Onyeali-Ikpe, reputed as a solid amazon in the finance sector, and a go-getter, has seen and conquered the banking arena, and is honoured among veterans as a solid foundation in Nigeria’s money business. This prompted her reappointment as the CEO of FidelityBank Plc.

Born on July 28, 1964, and on the verge of hitting the diamond age, Nneka, as beloved and close family members, friends and colleagues fondly call her, is a force to reckon with, and has in a space of 32 years and counting, of career banking, brought to bear all the stops that make for great banking and financial experience, climbing to the topmost echelon of investment banking and related areas.

It was not surprising when Fidelity Bank Plc announced its decision after a thorough Board of Directors’ meeting to extend the employment contract of the ebullient achiever from 2024 to 2026.

The extension was in furtherance of the Bank’s strategic objectives and premised on Dr. Nneka Onyeali-Ikpe’s sterling performance since her assumption of office on January 1, 2021.

The Board noted, and without equivocation,  that it is confident that the Bank’s performance will continue its upward trajectory under Dr. Nneka Onyeali-Ikpe’s leadership, and looks forward to working closely with her and the Executive Management Team on execution of various strategic initiatives including international expansion.

Before attaining the enviable GMD with Fidelity Bank, Onyeali-Ikpe had out of dint of hardwork, paid her dues from lesser positions.

She began her career in 1990, when she was employed as a legal officer for the now-defunct African Continental Bank. She later worked as a treasury officer for the First African Trust Bank, and thereafter joined Zenith Bank, and subsequently the Standard Chartered Bank. Her experience in the course of her sojourn are combined to make her a toast of the banking industry today.

Having cut her teeth, and garnered a lot of experience and goodwill, she was in 2011, absorbed by Enterprise Bank as an Executive director of the bank’s operations in Lagos and other locations in the South-Western region in Nigeria. She wasted no time in turning around the fortunes of the bank.

In January, 2015, Onyeali-Ikpe joined Fidelity Bank as an Executive Director, and rose through the ranks until she was announced the Managing Director in December, 2020. Following her appointment, Nneka became the first female MD/CEO in the history of the bank.

Presently, Dr Nneka Onyeali-Ikpe, with the national honour of Officer of the Order of the Niger (OON) is the Group Managing Director and Chief Executive Officer of Fidelity Bank Plc, a foremost financial institution with a client base of about nine million customers.

Apart from her Law degrees, from the prestigious University of Nigeria, Nsukka and Kings College, Onyeali-Ikpe has also attended executive training programs at Harvard Business School, The Wharton School University of Pennsylvania, INSEAD School of Business, Chicago Booth School of Business, London Business School and IMD amongst others.

It is worthy of note that she recently completed a Diploma programme in Organizational Leadership at Said Business School, Oxford University, UK and received an honorary doctorate degree in Business Administration at the University of Nigeria, Nsukka (UNN). She is also the recipient of the national award of the Officer of the Order of the Niger (OON) which was awarded to her by the Federal Government of Nigeria in 2023.

With close to 34 years of rewarding banking experience through Enterprise Bank, Citizens International Bank, Zenith Bank and Standard Chartered Bank among others, the woman is surely a force to reckon with.

A woman of many parts, Onyeali-Ikpe has also been involved in the structuring of complex transactions in Oil and Gas, Manufacturing, Aviation, Real Estate and Export among many others.

She is, without an iota of doubt, widely regarded as one of Africa’s leading female CEOs with a reputation for authentic leadership and proven people skills in identifying talents, opportunities and executing complex business deals. She has extensive business development experience with proficiency in retail, corporate and commercial banking and treasury management among others.

With Onyeali-Ikpe as the Chief Executive Officer, Fidelity Bank has been the recipient of several awards within and outside.

On her own part, Dr. Onyeali-Ikpe has been recognized by numerous local and international bodies for her sterling achievements:

1. The national award of the Officer of the Order of the Niger (OON) by the Federal Government of Nigeria in 2023.

2. The Banker of the Year 2022 at the 14th Leadership Annual Conference and Awards and

3. The Best Banking CEO Nigeria 2023 in the 2023 Global Banking & Finance Awards.

4. 2023 Top 25 CEOs in Nigeria at the BusinessDay Awards

5. The Banker of the Year 2022 at the Champion Newspapers’ Awards of the Year 2022.

Onyeali-Ikpe is married to Dr. Ken Onyeali Ikpe, PhD, a visionary leader with strong business acumen and respected for his demonstrated knowledge in Marketing, Branding and Consumer Consulting and Business acceleration.

She is a celebrated wife and mother, who has combined effectively home duties with professional endeavours.

AYODELE TOMI SOMEFUN – UNITY BANK 

Prior to her current appointment as the CEO of Unity Bank, Mrs. Ayodele Somefun, another Amazon of Nigerian banking sector, had worked at Credit Bank Limited and UBA Plc. She was also the MD/CEO of UBA Capital & Trustee Limited and the Founding Managing Director of UBA Pension Custodian Limited: two of UBA Group’s major subsidiaries.

She also served as a Non-Executive Director on the boards of directors of UBA Foundations, UBA Trustees, UBA Nominees and UBA Registrars.

In the course of her career with Unity Bank Plc, she served as an Executive Director in charge of Lagos and the South-West region of Nigeria until August, 2015.

As though to cement her long-standing career in treasury, investment and commercial banking, Mrs. Tomi Somefun, on August 12th, 2015, assumed her new role as the Chief Executive Officer of Unity Bank Plc. She took over from the bank’s former CEO, Mr. Henry James Semenitari, as the first woman ever appointed to that position in the history of the retail bank. She is also one of the few women holding CEO positions in Nigeria’s many banks.

Mrs. Somefun is a modern Nigerian woman who has successfully maintained a professional career spanning at least thirty-three years. Note that while most of these years of experience have been in the financial sector, she also has experiences cutting across other sectors.

In her early days, she started out working at KPMG as a Senior Audit Assistant between 1982 and 1986. From there, she went on to work at Arthur Andersen in 1986 as a Senior Auditor. She has also been employed at Ventures & Trusts Limited, between 1989 and 1992, as an Associate.

In 2016, she was named as one of the top 25 most distinguished Chief Executive Officers of quoted Nigerian companies for the 2015 financial year.

YETUNDE BOLANLE ONI – UNION BANK

Mrs. Oni’s trajectory in the banking world depicts her as a highly accomplished financial services leader with a successful career spanning over 30 years. She has held senior positions in international and local banks, focusing on emerging markets. In January 2024, Yetunde was appointed by CBN as the Managing Director/CEO of Union Bank of Nigeria.

Before this, Yetunde worked at Standard Chartered Bank Nigeria Limited as the pioneer head of commercial clients in September 2014. She became the Managing Director & Country Head of Commercial Banking in West Africa in 2017. During her tenure, she developed and executed comprehensive business growth strategies, managed key relationships, and ensured compliance with group credit policy and local underwriting standards.

Before Joining standard chartered Bank Nigeria Ltd, Yetunde started her career at Prime Merchant Bank in the Treasury & Money Markets Group. This was followed by an 11-year stint at Ecobank Transnational Incorporated as a Relationship Manager, where she demonstrated exceptional proficiency in client solutions. Relationship management, team leadership, and talent development.

Yetunde made history in January 2021 as the first female Managing Director and Chief Executive Officer of Standard Chartered Bank in Sierra Leone. During her tenure. she provided excellent leadership, strategic direction, and performance management, resulting in a remarkable 50% year-on-year growth in income and a substantial 116% year-on-year growth in profit before tax in 2022.

Yetunde is a University of Ibadan graduate with a Bachelor’s degree (Honours) in Economics. She has attained several international and local professional and leadership certifications, including an MBA from Bangor University. Yetunde is an alumnus of Oxford University, INSEAD Business School, Singapore, a Fellow of the Chartered Institute of Loans & Risk Management, an Honorary senior Member or the Chartered Institute of Bankers or Nigeria (HCIB), a member of Women in Management and Business (WIMBIZ) and an invested member of esteemed industry affiliations within and outside the Bank.

BOLAJI AGBEDE – ACCESS HOLDINGS 

Another amazon of banking, Mrs. Agbede was appointed on February 11, 2024.

Until her appointment, Ms. Agbede was the Company’s most senior founding Executive Director in charge of Business Support.

She has nearly three decades of professional experience cutting across banking and business consultancy services. Ms Agbede commenced her professional career in 1992 at Guaranty Trust Bank and served in various capacities within the Commercial Banking and Operations functions rising to the position of Manager in 2001. She subsequently served as the Chief Executive Officer of JKG Limited, a business consulting outfit in 2003.

Ms. Agbede joined Access Bank Plc in 2003 as an Assistant General Manager and was responsible for managing the Bank’s portfolio of chemical trading companies. She served as the Bank’s Head, Group Human Resources between 2010 and 2022 and was appointed the Company’s founding Executive Director, Business Support in 2022. She has a track record in successful people integration in business combination and culture transformation.

She holds a Bachelor’s Degree in Mathematics and Statistics from the University of Lagos (1990) and a Masters of Business Administration Degree from Canfield University UK in 2002. She is a member of the Chartered Institute of Management UK and the Chartered Institute of Personnel Management of Nigeria.

Ms. Agbede has attended several renowned leadership and professional development programmes including the High-Performance Leadership Programme organized by the IMD and the Strategic Talent Management Programme organised by the London Business School.

MIRIAM OLUSANYA – GTB

In 2011, Olusanya made history as the first Managing Director of Guaranty Trust Bank, and its subsidiary.

Miriam joined GTBank as an executive Trainee in 1998 and rose through the ranks to the present position she occupies. She was formerly the Group Treasurer and Head of Wholesale Banking.

She obtained a Bachelor’s degree in Pharmacy from the prestigious University of Ibadan. She further proceeded to the University of Liverpool where she obtained an MBA in Finance and Accounting. Additionally, she enrolled in various executive programmes at institutions such as Cranfield School of Management.

Miriam Olusanya is an accomplished banker with over 21 years of experience in corporate finance, treasury, assets and liability management and wholesale banking.

In 2006, she led the team that secured the appointment of the Bank as a Primary Dealer/ Market Maker in Federal Government of Nigeria (FGN) Bonds with the Debt Management Office (DMO).

She is the first female Managing Director in the history of GTBank, and the fifth woman to be appointed as M.D in any commercial bank in Nigeria.

IRETI SAMUEL-OGBU – CITI BANK

Prior to being appointed CEO of Citi Bank Group, Samuel-Ogbu 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, UK. She has also been on the Board of Citibank Nigeria Limited for the last 5 years as a non-Executive Director.

Samuel-Ogbu is responsible for leading and protecting the franchise, and with the talented and experienced team in Nigeria, continue to drive performance. She assists Citi’s institutional clients by harnessing the potential of their significant product, functional and geographic capabilities in Nigeria and the region.

Her stellar career began at Citi (then Nigeria International Bank), and she has distinguished herself as a leader for over 30 years.

HALIMA BUBA – SUN TRUST BANK

Halima Buba has over two decades of comprehensive banking experience. Her illustrious career spans prominent financial institutions, including Allstates Trust Bank, Zenith Bank, Inland Bank Plc, Oceanic Bank Plc, and Ecobank Nigeria Limited. Halima earned her Bachelor of Science degree in Business Management and an MBA from the University of Maiduguri.

An alumnus of the Lagos Business School’s Senior Management Programme, she is a Senior Honorary Member of the Chartered Institute of Bankers and a Fellow of the Institute of Management Consultants. Halima serves as a Non-Executive Director on the Board of the Nigerian Sovereign Investment Authority (NSIA) and Anchoria Asset Management Company Limited. She is deeply committed to youth and women empowerment, contributing significantly to the education of the girl child.

YEMISI EDUN – FCMB

Yemisi Edun holds a Bachelor’s degree in Chemistry from the University of Ife, Ile-Ife and a Master’s degree in International Accounting and Finance from the University of Liverpool, United Kingdom.

She is a Fellow of the Institute of Chartered Accountants of Nigeria and a CFA® Charter holder. She is also an Associate Member of the Chartered Institute of Stockbrokers; an Associate Member of the Institute of Taxation of Nigeria; a Member of Information Systems Audit and Control, U.S.A; and a Certified Information Systems Auditor.

She began her career with Akintola Williams Deloitte (member firm of Deloitte Touché Tohmatsu) in 1987, with main focus in Corporate Finance activities. She was also involved in audit of Banks and Other Financial Institutions. She joined FCMB in year 2000 as Divisional Head of Internal Audit and Control before assuming the role of Chief Financial Officer of the Bank.

She was appointed Managing Director of the Bank following CBN approval effective May 1, 2021.

BUKOLA SMITH – FSDH MERCHANT BANK 

Bukola became the Managing Director/Chief Executive Officer of FSDH Merchant Bank in April 2021. She brings 29 years of progressive experience in the banking industry with a track record of strategic execution and leadership. Before her appointment as 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, Public Sector, Business Banking, Agriculture and Transaction Banking Divisions. Under her, the bank’s SME focused team in 3 years moved from 5th position in the industry to 1st position in 2019 (KPMG Customer Service Report 2020). In addition, she established the FCMB Women in Business Desk (branded SheVentures) which supports female entrepreneurs; and set up FCMB Trustees and FCMB Custody.

Prior to joining FCMB in 2006, she worked with FSB International Bank from 1992 to 2000 and Fidelity Bank plc from 2000 to 2006 gaining experiences in several areas of banking including treasury operations, international trade services, foreign and local currency trading, bond trading, Correspondent Banking and relationship management of Non-Bank Financial Institutions and Private Banking Clients. Bukola currently sits on the boards of Women in Successful Careers (WISCAR), and the Toyin Oni Foundation (NGO for cancer awareness). She serves as a mentor to several young women within and outside these networks.

KAFILAT ARAOYE – LOTUS BANK

A graduate of History from the University of Ife, now Obafemi Awolowo University (1985), and an M.Sc. holder in Industrial Relations & Personnel Management from the University of Lagos (1987),  Kafilat Araoye has over 25 years experience in banking. graduating as the best student in her class.

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). She is certified in specialised banking courses, conferences and seminars, among them are the Structured Trade Finance Course by Euromoney U.K, Payments, Clearing and Settlement Conference by National Association of Clearing Houses, USA2006, 2007, 2008, International Banker’s Seminar, USA, South Africa and Swift regional conference.

She 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. She was part of the GTBank team that went to Jordan for the implementation of its core banking application amongst other critical assignments executed for the Bank. She left with accolades in 2015 as General Manager but continued to consult for banks and other sectors through her consulting outfit until 2018 when she was appointed as the MD Designate of Lotus Bank (then in formation).

The Central Bank of Nigeria (CBN), on Monday, announced the revocation of the operating licence of Heritage Bank Plc with immediate effect.

In a statement issued by CBN acting Director, Corporate Communications, Mrs. Hakama Sidi Ali, the apex bank said the move was in accordance with its mandate to promote a sound financial system in Nigeria and in exercise of its powers under Section 12 (1l of the Banks and Other Financial Act (BOFIA) 2020.

This followed a period during which the CBN engaged with the bank and prescribed various supervisory steps intended to stem the decline.

Sidi Ali said, “Regrettably, the bank has continued to suffer and has no reasonable prospects of recovery, thereby making the revocation of the license the next necessary step.”

The Naira has recorded its biggest gain in a couple of weeks against the American dollar to trade at N1, 339/$1, according to data from the Nigerian Autonomous Foreign Exchange Market (NAFEM).

At the end of trading on Monday, the Naira gained N143 against the dollar compared to the previous exchange rate of N1,482/$1 on Friday, May 24, 2024.

The intra-day high and low recorded during the day were N1,501/$1 and N1,310/$1 respectively, representing a lean spread of N191/$1.

However, the Naira slumped against the dollar at the parallel section of the market, to trade at N1,520/$1 representing a loss of N10 compared to the N1,510/$1 it traded the previous trading day

Similarly, the Naira slumped against the British Pound to trade at N1,920/£1 as against the previous trading price of N1,900/£1 representing a loss of N20 for the local currency,

The Canadian dollar closed flat against the Naira to trade at N1,200/CA$1, same as the previous trading day rate of N1,200/CA$1.

The Naira also slumped against the Euro to trade at N1,600/€1 as against the rate of N1,580/€1 the previous trading rate, representing a loss of N20 in the local currency.