List of Highest-Paid Female CEOs in Nigeria and How Much They Earn

List of Highest-Paid Female CEOs in Nigeria and How Much They Earn

  • The list of Nigeria's highest-paid female Chief Executive Officers (CEOs) has been revealed
  • The majority of the executives profiled in the reported work in finance, led by Yemisi Edun
  • The average pay for the top ten best CEOs, all of whom are men, is more than N332.9 million

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Men largely dominate the corporate world, and it is rare to see women at the helm of affairs

However, some brilliant intellectual women are making waves, leading organizations with investors' funds in millions of dollars.

According to Proshare's Bank strength Index (PBSI), measuring gender-diversified boards, banks with more gender-diverse boards showed a better performance, measured by the return on equity (ROE).

Best paid female CEO in Nigeria
Oluwatomi Somefun(Left) Nneka Onyeali-Ikpe(middle) and Yemisi Edun(Right) Credit: @fcmb, @fidelity, @unitybank
Source: Facebook

Women CEOs in Nigerian top companies

There is limited data available on female-led companies; however, some of the names of women in the head of affairs of top Nigerian companies include the likes of Oluwatomi Somefun, Yemisi Edun and Nneka Onyeali-Ikpe.

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Another is Ijeoma Oduonye, the CEO of Cutix Plc (a manufacturing firm) however, her pay package is not mentioned in the company's financials.

Highest paying CEO

Yemisi Edun

Yemisi Edun, CEO of First City Monument Bank, is the highest-paid female CEO.

She was appointed CEO of the bank in 2021, and the bank's financial results reveal that her base salary is N117.63 million.

Her pay package also makes her the eighth highest-paid bank CEO in Nigeria.

Nneka Onyeali-Ikpe

Nneka Onyeali-Ikpe of Fidelity Bank is the second highest-paid CEO.

Her take-home remuneration is N110 million. This is the ninth highest paid in the banking sector.

Onyeali-Ikpe was appointed MD/CEO of Fidelity Bank on January 1, 2021, making her the bank's first female MD in nearly 35 years.

Oluwatomi Somefun

Somefun is the present bank sector's longest-serving female CEO.

She took over as MD/CEO of Unity Bank in August 2015, following a 26-year career in corporate banking, treasury & investment banking, retail and commercial banking operations.

According to Unity Bank's financial records, her take-home pay is N41.4 million, ranking her among the top ten highest-paid bank CEOs in Nigeria.

Top ten highest-paid bank CEOs

  1. Zenith Bank - Ebenezer Onyeagwu N246m
  2. Stanbc IBTC - Demola Sogunle N204m
  3. GTB -Olusegun Agbaje N171.96m
  4. UBA - Kennedy Uzoka N143m
  5. Union Bank of Nigeria - Emeka Okonkwo N134m
  6. FBNH - U.K.Eke N131m
  7. Access Bank - Herbert Wigwe N120m
  8. FCMB -Ladi Balogun N117.63m
  9. Fidelity Bank - Nneka Onyeali-Ikpe N110m
  10. Wema Bank - Ademola Adebise N70.05m
  11. Unity Bank -Oluwatomi Somefun N41.4m

Overall Best-paid CEOs with an average salary of N332m

Meanwhile, here is the latest list of the overall 10 highest-paid CEOs in Nigeria, led by Dangote Cement's main man, Micheal Purchercos.

Purchercos, Dangote's CEO, replaced MTN's CEO, who dropped down the list for 2021

The average salary earned by the top CEOs during the year under review stood at N332.49 million

Source: Legit.ng

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