In recent years, Nigeria has witnessed a significant shift in its corporate scene, with women ascending to top executive positions in some of the country’s largest companies by market capitalisation.
According to the 2024 PWR Advisory NGX-30 Board Gender Diversity Scorecard, the percentage of female board directors on the NGX-30 companies, rose from 27.9 percent last year, to 29.7 percent in 2024.
This means that out of 323 board seats on the NGX-30 listed companies, women occupy only 96 seats in 2024. Globally, women held less than one-quarter of the world’s board seats, making 23.3 percent in 2023.
The report disclosed that Transcorp Hotels, Guinness Nigeria. and United Bank for Africa topped the list of companies with the most female gender representation on their boards among the NGX-30 listed companies.
Ivana Osagie, founder/CEO of PWR Advisory, said that gender inclusion is not a women-only issue but a business imperative and a strategic issue.
“Gender diversity is a risk management strategy because having the perspective of men and women around the table enables more informed and improved decision-making. It reduces groupthink, narrows blind spots, and helps to eliminate biases.”
“Business outcomes are better and productivity is higher. If you think about it, most companies on the stock exchange sell services and products to men and women. So, having the men and women in the boardroom enables them to be more in touch and reflective of their customer base,” she said.
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Here are the female MDs/CEOs of Nigeria’s biggest companies by market capitalisation
Yemisi Edun – MD/CEO of FCMB
Company’s market capitalisation – N 400 billion
Yemisi Edun is the managing director/chief executive officer of First City Monument Bank, the first woman ever to hold the position. She assumed this position in July 2021 after the suspension of Adam Nuhu.
Under her leadership, Fidelity Bank’s profit before tax surged from N22.7 billion in 2021 to N107.9 billion in 2024 showcasing her abilities in driving the bank to profitability.
Edun’s academic journey began at the University of Ife, where she earned a bachelor’s degree in chemistry. She later pursued a master’s degree in international accounting and finance at the University of Liverpool.
Her professional qualifications further underscore her expertise, as she is a fellow of the Institute of Chartered Accountants of Nigeria and a Chartered Financial Analyst. Additionally, she holds memberships with the Chartered Institute of Stockbrokers, the Chartered Institute of Taxation of Nigeria, and the Information Systems Audit and Control Association, where she is a Certified Information Systems Auditor.
Her career commenced in 1987 with Akintola Williams Deloitte, a member firm of Deloitte Touche Tohmatsu, where she specialized in corporate finance activities and the auditing of banks and financial institutions.
In 2000, she joined FCMB as the Divisional Head of Internal Audit and Control, subsequently rising to the position of Chief Financial Officer. Her leadership and strategic vision earned her the role of Acting CEO before her official appointment as Managing Director upon receiving approval from the Central Bank of Nigeria on May 1, 2021.
Nneka Onyeali-Ikpe – MD/CEO of Fidelity Bank
Company’s market capitalisation – N601.7 billion
Nneka Onyeali-Ikpe, is the group managing director/CEO of Fidelity Bank Plc was appointed in January 2021, and became the first female to lead the institution,
Born in Lagos and raised in Owerri, she attended the Federal Government Girls’ College before earning a law degree from the University of Nigeria, Nsukka, and a Master of Law from King’s College London. She has also completed executive programs at Harvard Business School, Wharton, and Oxford’s Said Business School.
Onyeali-Ikpe began her banking career in 1990 at African Continental Bank, later holding key roles at First African Trust Bank, Zenith Bank, and Standard Chartered. She played a pivotal role in restructuring Enterprise Bank before joining Fidelity in 2015.
Recognised for her contributions, she has won several awards, including Banker of the Year 2022. She is also a member of key financial committees, championing SME growth and digital innovation in banking.
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Owen Omogiafo – President/Group CEO of Transnational Corporation
Company’s market capitalisation – N478.6 billion
Owen Diana Omogiafo stands as the first woman to serve as President and Group CEO of Transcorp Plc, a position she assumed at the age of 39 a role in which she has not only driven significant financial growth but also made a lasting impact on the Nigerian corporate landscape.
Owen Omogiafo’s career spans over two decades, during which she has gained extensive experience across various sectors, including financial services, hospitality, and energy.
Her educational background includes a bachelor’s degree in Sociology and Anthropology from the University of Benin and a Master’s in Human Resource Management from the London School of Economics & Political Science.
Omogiafo began her career at Accenture as an Organisation and Human Performance Consultant, focusing on Change Management. She later joined the United Bank for Africa Plc as the HR Advisor to the group managing director, where she honed her skills in human capital management.
Her leadership capabilities were further demonstrated during her tenure as Director of Resources at Heirs Holdings, a Pan-African investment company, where she established herself as a strategic thinker and transformative leader.
Owen Omogiafo’s influence extends beyond her corporate achievements. She serves on the boards of several notable companies, including Afriland Properties, Transcorp Power, TransAfam Power, and Abuja Electricity Distribution Company.
Adaora Umeoji – Group MD of Zenith Bank
Company’s market capitalisation – N1.5 trillion
Adaora Umeoji was appointed as the group managing director (GMD) in June 2024 making her the first female GMD to lead the bank.
Adaora Umeoji joined the Bank in 1998, and since joining the bank, she headed the marketing group Maitama branch and went on to be the deputy zonal head of the Abuja Zone.
She then became executive director in charge of Abuja and Middle Belt Zones of the Bank.
She is an alumnus of Harvard Business School, holds a Bachelor’s degree in Sociology from the University of Jos, a Bachelor’s degree in Accounting, and first-class honors in Law from Baze University Abuja.
She’s a Master of Laws graduate from the University of Salford, United Kingdom, and a Master in Business Administration from the University of Calabar.
She attended the strategic thinking and management program at Wharton Business School, USA, and holds a certificate in Economics for Business from the prestigious MIT Management Sloan School and a Certificate in Leading Global Businesses from Harvard Business School, USA.
She is a fellow of professional bodies including the Chartered Bankers Institute of London, the Chartered Institute of Bankers of Nigeria, the Institute of Credit Administration, the Institute of Certified Public Accountants of Nigeria, the Institute of Chartered Meditators & Conciliators, and the Institute of Chartered Secretaries & Administrators of Nigeria, among others.
Beyond banking, Umeoji founded the Catholic Bankers Association of Nigeria (CBAN), a platform she uses to promote ethical banking and service to humanity.
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Uzoamaka Oshogwe – MD/CEO of Transcorp Hotels Plc
Company’s market capitalisation – N1.21 trillion
On January 1, 2025, Uzoamaka Oshogwe was appointed as the new MD/CEO of Transcorp Hotels Plc, a leading hospitality company in Nigeria, with Transcorp Hilton Abuja as its flagship property.
Uzoamaka has distinguished herself, amid a successful career spanning three decades in companies across the world including Ford Motors UK, J. Sainsbury Plc UK, Accenture UK, UBA, and most recently Afriland Properties Plc where she was the MD/CEO till December 2024.
Her visionary leadership at Afriland was instrumental in the completion of Afriland Towers in Marina, Lagos, an architectural masterpiece; the Heirs Towers building in Victoria Island, Lagos, and luxury residential projects including ‘The Residences’.
Uzoamaka holds a B.Sc in Chemistry from Ambrose Alli University, Edo State, an MSc in Information Systems Design from the University of Westminster, London and a professional certificate in Real Estate Management from Harvard Business School, USA. She is an Alumna of the Lagos Business School and IESE, Barcelona Spain, having attended the Advanced Management Programme (AMP) and Chief Executive Programme of the institutions.
Professionally, she is a RICS accredited Civil and Commercial Mediator, a Fellow of the Institute of Management Consultants, a Fellow of the Institute of Credit Administrators and also a member of the Institute of Directors (IoD).
Miriam Olusanya – Managing Director of GT Bank
Company’s market capitalisation – N1.2 trillion
Miriam 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.
She is a seasoned banker with 26 years of experience, Miriam took the helm of GTBank in 2021, becoming the first woman to lead GTBank. She is known for her strong leadership, strategic vision, and commitment to financial inclusion.
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