The Women Behind Africa’s Leading Banks 

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Over the past two decades, the Nigerian banking industry has witnessed a remarkable transformation, with women leading their growth. At the frontier are nine women who are changing the narrative of the country’s financial sector and banking system.  Read on about their accomplishments and the banks they lead.

1. Yetunde Bolanle Oni, MD/CEO of  Union Bank

In January 2024, Yetunde Bolanle Oni was appointed Managing Director/CEO of Union Bank of Nigeria by the Central Bank of Nigeria. Her appointment marked a significant milestone in the bank’s leadership, with the aim of shaping the bank’s strategic direction. As an accomplished financial services leader with over 30 years of experience, Yetunde is skilled in risk management, executive leadership, cross-border business, and board service. Before her appointment, she held senior positions in international and local banks, focusing on emerging markets. 

Yetunde started her career at Prime Merchant Bank in the Treasury & Money Markets Group, then spent 11 years working as a Relationship Manager at Ecobank Transnational Incorporated. Therein, she demonstrated exceptional proficiency in client solutions across relationship management, business development, team leadership, and talent development. Afterwards, she worked at Standard Chartered Bank Nigeria Limited for 18 years.

In 2021, Yetunde became the first female Managing Director and Chief Executive Officer of Standard Chartered Bank in Sierra Leone. Her tenure was marked by a remarkable 50% year-on-year growth in income and a substantial 116% year-on-year growth in profit before tax in 2022. This achievement was followed by an additional 49% year-on-year growth in income and 43% year-on-year growth in profit before tax in 2023.

With a Bachelor’s degree in Economics from the University of Ibadan, Yetunde has an MBA from Bangor University and is an alumnus of Oxford University and INSEAD Business School. She is also a Fellow of the Chartered Institute of Loans & Risk Management, a Fellow of the Chartered Institute of Bankers of Nigeria (FCIB), a life member of Women in Management and Business (WIMBIZ), and an invested member of esteemed industry affiliations within and outside the Bank.

2. Miriam  Olusanya —MD/CEO of GTbank

Miriam Olusanya is the Managing Director of Guaranty Trust Bank (Nigeria) Limited, a subsidiary of Guaranty Trust Holding Company Plc (GTCO). She is the bank’s first female MD since its establishment in 1990. With a Bachelor of Pharmacy (B. Pharm) degree from the University of Ibadan, and a Master of Business Administration (Finance and Accounting) from the University of Liverpool, United Kingdom. Mariam has 25 years of banking experience spanning Asset and Liability Management, Financial Markets, Corporate Finance, Investment Banking, Investor Relations, and Transaction Services.

She began her career as an Executive Trainee in 1998 and quickly rose through the ranks to be appointed Executive Director in 2018, and served as the Group Treasurer and Head of Wholesale Banking Division. Miriam currently serves as a Non-Executive Director on the Board of Guaranty Trust Bank (Gambia) Limited. She is also a Non-Executive Director of the Nigerian Inter-bank Settlement System (NIBSS) and the Shared Agent Network Expansion Facilities (SANEF). She is a member of the Financial Markets Sub-Committee of the Bankers’ Committee, the primary interactive policy platform comprising the Central Bank of Nigeria and banks.

3. Halima Buba – MD/CEO of SunTrust Bank

In January 2021, Halima Buba officially took over as the Managing Director/Chief Executive Officer of SunTrust Bank Nigeria Limited. Her appointment was approved by the Central Bank of Nigeria (CBN) following the exit of outgoing MD Ayo Babatunde. 

With a Bachelor of Science degree in Business Management and an MBA from the University of Maiduguri, Halima has over 22 years of cognate experience gained from working at Allstates Trust Bank, Zenith Bank, Inland Bank Plc, Oceanic Bank Plc, and Ecobank Nigeria Limited. She is also an alumnus of the Lagos Business School’s Senior Management Programme, a Senior Honorary Member of the Chartered Institute of Bankers and a Fellow of the Institute of Management Consultants. 

Before her appointment, Halima served 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’s empowerment, especially the education of the girl child.

4. Adaora Umeoji OON – MD/CEO of Zenith Bank Plc.

On June 1, 2024, Adaora Umeoji assumed the role of Group Managing Director and Chief Executive Officer at Zenith Bank. Historically, she is the first woman to lead the bank since its establishment 34 years ago. She joined Zenith Bank as a National Youth Service Corps member and rose steadily through the ranks. With nearly 30 years of banking experience, Adaora served as Deputy Managing Director of Zenith Bank from October 28, 2016, to May 31, 2024. She also serves on the board of Zenith Bank (Ghana) PLC. 

Her educational background includes 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 also earned a Doctorate in Business Administration, a Master of Laws, and an MBA. She has also completed executive programs at prestigious institutions like Harvard Business School and Columbia Business School. 

In 2022, Adaora was awarded the national honour of Officer of the Order of the Niger (OON) and the title of Peace Advocate of the United Nations (UN-POLAC).  Her philanthropic work resulted in the establishment of the Pink Breast Cancer Care Foundation and the Adorable Foundation. 

While people were initially sceptical about her appointment, Adaora proved them wrong, as her leadership saw Zenith Bank consistently outperform expectations, reporting substantial after-tax profits in its financial statements. Her strategic approach to leadership has instilled confidence among investors and stakeholders, demonstrating that her capabilities extend far beyond any preconceived notions. 

5. Bukola Smith — MD/CEO of FSDH Merchant Bank

In April 2021, Bukola Smith became the Managing Director and Chief Executive Officer of FSDH Merchant Bank. With 28 years of progressive experience in the industry and a track record of strategic execution and leadership, Bukola has worked in different aspects of the banking industry. 

Before joining FSDH, she worked at First City Monument Bank (FCMB) for 14 years, rising to the position of Executive Director, Business Development in 2017. She also held senior roles at Fidelity Bank (Treasurer and Regional Head of Lagos Island Branches, Private Banking and Financial Institutions). 

Bukola Smith has a Bachelor’s degree in Economics from the University of Lagos and an MBA from the Manchester Business School, UK. She is a certified member of the Chartered Institute of Pensions and a fellow of the Institute of Chartered Accountants of Nigeria. She has also attended several courses, both local and international, including at INSEAD Business School in France. 

She has served as a mentor at Women in Successful Careers (WISCAR) since 2008. As a way of giving back to society, she mentors through the I.N.V.E.N.T Leadership Summit and Mentorship Programme 3.0, where she speaks with pupils from various public secondary schools, providing them with the insights they need to make informed course and career choices. Notably, Bukola established an FCMB Women in Business Desk (SheVentures), which supports female entrepreneurs. In the past year, SheVentures has supported over 2,000 female-owned businesses. 

6. Yemisi Edun — CEO of FCMB

Yemisi Edun is the Managing Director/Chief Executive Officer of First City Monument Bank (FCMB). She was appointed in July 2021 and became the first woman to lead the institution in its over 40-year history. With 35 years of experience in the financial sector, Yemisi has held several high-level positions at FCMB; she served as the bank’s Executive Director and Chief Financial Officer from 2015 to 2021.

Yemisi began her career with Akintola Williams Deloitte (a member firm of Deloitte Touché Tohmatsu) in 1987 and was also involved in audits of Banks and Other Financial Institutions. She joined FCMB in 2000 as a Divisional Head of Internal Audit and Control before assuming the role of Chief Financial Officer of the Bank.

She 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, a CFA Charterholder, a Fellow Member of The Chartered Institute of Bankers of Nigeria, a Fellow Member of the Chartered Institute of Stockbrokers, a Fellow 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.

7. Dr Nneka Onyeali-Ikpe– MD/CEO of Fidelity Bank PLC

Dr Nneka Onyeali-Ikpe is the Managing Director and Chief Executive Officer of Fidelity Bank Plc, a foremost financial institution with a client base of over 9 million customers. Since her appointment on January 1, 2021, she has delivered clear strategic direction that continues to drive the institution forward. She is also the first woman in the bank’s history.

She joined Fidelity Bank as an Executive Director in 2015 and has over 33 years of banking experience, including Citizens International Bank, Zenith Bank and Standard Chartered Bank, among others. She has also been involved in structuring complex transactions across oil and gas, manufacturing, aviation, real estate, and export, among others. According to the bank’s 2024 audited financial statements, Profit Before Tax (PBT) rose by 210% year-on-year to ₦385.2 billion. Gross Earnings grew by 87.7% to ₦1.04 trillion, bolstered by a 106.9% increase in interest and similar income, which reached ₦950.6 billion.

Nneka is an alumnus of the University of Nigeria, Nsukka, where she holds a Bachelor of Laws degree. She has an MBA in Law from King’s College, London. She recently completed a Diploma programme in Organisational Leadership at Said Business School, Oxford University, UK and received an honorary doctorate in Business Administration at the University of Nigeria, Nsukka (UNN).

She has also attended executive training programmes 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. She recently completed a Diploma programme in Organisational Leadership at Said Business School, Oxford University, UK and received an honorary doctorate in Business Administration at the University of Nigeria, Nsukka (UNN).

In 2023, she guided the bank to obtain the Central Bank of Nigeria’s approval to expand its operations to the United Kingdom through the acquisition of the former Union Bank UK, now Fidelity Bank UK Limited. Passionate about innovation and technology, Nneka has pioneered several products, including PayGate Plus, an online platform that enables businesses to make and receive payments.

8. Nneka Enwereji – MD/ CEO of Citibank 

Nneka Enwereji is the current MD/CEO of Citibank Nigeria. She officially assumed the role on August 19, 2024, succeeding Ireti Samuel-Ogbu after her retirement. She is the second female  CEO in the institution’s 40-year history. She also served as Citi Country Officer for both Nigeria and Ghana. 

Nneka is a veteran Banker with over 31 years of experience in the banking sector, covering markets, corporate and investment banking, risk management, and operations. She was formerly Citi’s Head of Global Network Banking for the Sub-Saharan Africa (SSA) sub-cluster. She holds a first-class degree in Computer Science and Economics from Obafemi Awolowo University and an MBA from Warwick Business School, U.K. She has also attended executive programs at Yale School of Management and University of California, Berkeley.

 In May 2025, she was appointed the President and Chairman of the Board of Directors of the American Business Council Nigeria (ABC). 

9. Chinwe ILoghalu – MD/CEO of NOVA Bank

In February 2025, Chinwe Iloghalu, a distinguished Nigerian banking executive, was appointed to the role of the Acting Managing Director and CEO of NOVA Bank. With over 28 years of experience in the financial services sector, she has held high-level leadership roles across several major Nigerian institutions, including Polaris Bank and Fidelity Bank. She has also served as the Executive Director, Lagos & Corporate Bank at Polaris Bank.

Her banking experience spanned diverse areas, including Operations, Marketing, Credit, Retail, Consumer, Corporate, and Commercial Banking. She has been involved in structuring transactions across various sectors, including Oil & Gas, Manufacturing, Telecommunications, Power, Infrastructure, Aviation, Real Estate, Agric & Exports, Fintech, and Public Sector, amongst others.

Chinwe holds a Bachelor of Science (B.Sc.) degree in Industrial Chemistry from the University of Benin, an MBA from Esut Business School, and a Master of Science (M.Sc.) degree in Marketing Communications from the School of Media and Communication, Pan-Atlantic University. She is a Fellow of The Institute of Credit Administration, Honorary Senior Member of the Chartered Institute of Bankers of Nigeria, Member of notable professional bodies, including the Nigerian Institute of Management, and the Nigerian Institute of Public Relations, amongst others.