10 Women Now Running Nigeria’s Most Powerful Banks, by Nafisat Bello
For decades, the uppermost leadership of Nigeria’s banking sector was an almost exclusive male preserve. Today, that narrative is changing quietly but powerfully. A growing number of women are now at the helm of some of Nigeria’s biggest financial institutions, redefining what leadership looks like in one of the country’s most critical industries.
These trailblazing CEOs are not just breaking glass ceilings, they are driving digital transformation, expanding access to credit, strengthening governance, and positioning Nigerian banks for global relevance. Their appointments signal a new era of inclusive leadership, one that is reshaping the financial landscape and inspiring the next generation of women leaders.
They are also gaining recognition for strong governance cultures. In a sector where regulatory compliance and risk management are critical, their leadership styles often balance caution with innovation, ensuring that growth does not come at the expense of stability, an essential quality in Nigeria’s dynamic economic environment.
Below are the list of the female CEOs breaking barriers in the Banking industry:
1. Nneka Onyeali-Ikpe — Managing Director/CEO, Fidelity Bank (Resumed office: January 2021)
A lawyer by training and banker by choice, Nneka Onyeali-Ikpe made history in January 2021 when she became the first female Managing Director and CEO of Fidelity Bank. She joined the bank in 2015 as an Executive Director and steadily rose through the ranks.
Under her leadership, Fidelity Bank has pursued an aggressive innovation and digital banking strategy, improving customer experience and operational efficiency. Onyeali-Ikpe has also driven the bank’s international expansion, notably securing Central Bank of Nigeria approval for the acquisition of Fidelity Bank UK Limited (formerly Union Bank UK), a major milestone in the bank’s global ambitions.
Her leadership excellence has been widely recognised, earning her accolades such as Banker of the Year 2022, Best Banking CEO Nigeria 2023 (Global Banking & Finance Awards).
2. Yemisi Edun — Managing Director/CEO, FCMB (Resumed office: 2021)
Yemisi Edun, a chemistry graduate turned finance executive, broke new ground in 2021 when she was appointed the first female CEO of First City Monument Bank (FCMB). Prior to her elevation, she served as the bank’s Chief Financial Officer, where she built a reputation for financial discipline and strategic execution.
As CEO, Edun has sharpened FCMB’s focus on inclusive banking, particularly in SME and women-led business financing. Through the bank’s flagship SheVentures initiative, FCMB has provided funding and support to over 50,000 women-owned businesses, reinforcing its position as a key enabler of entrepreneurship in Nigeria.
Her impact earned her the Banker of the Year 2023 award from Leadership Newspaper, in recognition of her role in expanding access to business credit and strengthening SME financing.
3. Miriam Olusanya — Managing Director/CEO, Guaranty Trust Bank, GTBank (Resumed office: July 2021)
Miriam Olusanya made history as GTBank’s first female Managing Director. With a strong background in relationship management and wholesale banking, she oversees one of Nigeria’s most innovative financial institutions.
Her leadership has focused on customer experience, digital banking, and sustaining GTBank’s strong corporate governance culture.
4. Halima Buba — Managing Director/CEO, SunTrust Bank (Resumed office: January 2021)
Halima Buba leads SunTrust Bank with a focus on digital-first banking, ethical finance, and inclusive growth. With extensive experience in financial services, she has positioned SunTrust as a niche player targeting emerging entrepreneurs and value-driven banking solutions.
5. Nneka Enwereji – CEO, Citibank Nigeria (Resumed office: 2024)
Appointed in 2024, Nneka Enwereji brings more than 31 years of extensive banking experience to her role as CEO of Citibank Nigeria. Her career spans Markets, Corporate and Investment Banking, Transaction Services, Risk Management, and Operations.
Before becoming CEO, Enwereji served as Citi’s Head of Global Network Banking (GNB) for the Sub-Saharan Africa sub-cluster, where she oversaw complex cross-border banking relationships. Her appointment reflects Citi’s confidence in her deep institutional knowledge and her ability to navigate both local and global financial markets.
6. Adaora Umeoji – CEO, Zenith Bank (Resumed office: 2024)
In 2024, Adaora Umeoji shattered another long-standing barrier by becoming the first female CEO in Zenith Bank’s history. With over 30 years of banking experience, 26 of which have been spent at Zenith Bank, her appointment represents continuity, competence, and institutional strength.
Before assuming the CEO role, Umeoji served as Deputy Managing Director from 2016, where she played a pivotal role in driving the bank’s growth, operational excellence, and strong corporate governance culture. Her elevation marked a historic moment for one of Nigeria’s most profitable banks.
7. Oluwatomi Somefun – Managing Director/CEO, Unity Bank (Resumed office: August 2015)
Oluwatomi Somefun stands out as one of Nigeria’s longest-serving female bank CEOs. An English Education graduate, she has led Unity Bank since August 2015, providing stability during a challenging period for the institution.
Before becoming CEO, she served as an Executive Director, overseeing the Lagos and South-West regions. Her tenure has been defined by resilience, restructuring efforts, and a commitment to steering the bank through economic headwinds while maintaining operational continuity.
8. Kafilat Araoye — Managing Director/CEO, Lotus Bank (Resumed office: 2021)
Kafilat Araoye leads Lotus Bank, Nigeria’s non-interest (ethical) bank. With experience in corporate finance and advisory services, she has been instrumental in building Lotus Bank’s identity around ethical banking, innovation, and alternative finance solutions.
9. Bukola Smith — Managing Director/CEO, FSDH Merchant Bank (Resumed office: April 2021)
Bukola Smith heads the First Securities Discount House Merchant Bank Limited popularly called FSDH Merchant Bank, where she focuses on investment banking, asset management, and financial advisory services. Her leadership is marked by strong capital market expertise and a focus on institutional and corporate clients.
10. Yetunde Oni – CEO, Union Bank (Resumed office: 2024)
Yetunde Oni was appointed CEO of Union Bank in 2024, bringing with her over three decades of banking experience. An Economics graduate, she previously made history as the first female CEO of Standard Bank in Sierra Leone.
Her career began at Prime Merchant Bank in 1991, followed by a decade at Ecobank Nigeria as a Relationship Manager. In 2005, she joined Standard Chartered Bank Nigeria, where she rose through the ranks to become the Head of Commercial Banking for West Africa. Her appointment at Union Bank reflects a strong track record in regional banking leadership and strategic growth.
Last Line
Together, these women are redefining leadership in Nigeria’s financial sector proving that competence, vision, and resilience know no gender. Their stories signal not just progress, but possibility.
Hence, If women’s leadership has helped strengthen the banking sector, what economic growth might follow if they were given the same opportunity to lead across all industries?