Nigeria’s banking sector has continued to impress in 2025, with some banks posting solid profits despite the economic headwinds.
At the center of this performance are the leaders steering these institutions, chairpersons whose vision, governance, and strategic decisions often determine how well their banks navigate challenges and seize opportunities.
For this feature, we looked at banks listed on the Nigerian Exchange (NGX) and focused on those with the highest asset for the nine months ended September 30, 2025.
This gives a clear picture of which leaders are driving real financial results, not just making headlines.
Our analysis highlights 10 chairpersons at the helm of Nigeria’s best-performing banks.
In this roundup, we take a closer look at the people behind the numbers, the chairpersons whose oversight and strategic direction have helped their banks grow deposits, expand lending, and strengthen balance sheets.
From shaping policy to driving innovation, these leaders are setting the pace for banking excellence in Nigeria, proving that strong leadership is just as important as strong financials.
Dr. (Mrs.) Oluwayemisi Olorunshola- Chairman Wema Bank
Asset: N3.9 trillion
Dr. (Mrs) Oluwayemisi Olorunshola is an experienced supply chain and business management professional with a career spanning over 25 years across multinational organisations and business leadership roles. As the chairman she holds 3,178 direct shares.
She holds a B.Sc. in Education & Economics from Obafemi Awolowo University, an MBA from the University of Liverpool, UK, and a Doctorate in Business Administration from Walden University, USA. Her expertise covers every aspect of the supply chain, including business and production planning, procurement, distribution, import/export, and logistics services.
Dr. Olorunshola is also a passionate advocate for education and small business sustainability, with widely cited publications in FEAcademia, Proguest.com, and Academia.edu. She is a Fellow of the International Institute for African Scholars and a Chartered Member of the Nigerian Chartered Institute of Personnel Management, and she actively volunteers in community development initiatives.
She joined the Board of Wema Bank Plc in January 2022. Under her oversight, the bank’s balance sheet showed remarkable resilience, with equity attributable to shareholders nearly doubling to N512.02 billion, up from N256.42 billion.
With 13 directors, Wema Bank recorded N3.59 trillion assets in 2024, growing to N3.97 trillion by 9 months of 2025. Despite shareholding shifts due to retirements and ceased directorships, the bank maintains structural stability.
Oladipupo Jadesimi – Chairman FCMB GROUP PLCOladipupo Jadesimi – Chairman FCMB GROUP PLC
Asset: N7.2 trillion
Oladipupo Jadesimi is the chairman of FCMB and currently holds 197,312,000 direct shares in the Group, reflecting his significant leadership influence and long-term commitment to the institution.
He has served as Chairman since 2018, guiding the organisation with strategic clarity and a strong governance mindset shaped by decades of experience across sectors. His profile combines legal expertise, finance knowledge, and entrepreneurial leadership, positioning him as a respected figure in Nigeria’s corporate landscape.
Jadesimi earned an M.A. (Honours) in Law from Oxford University, where he was a Jurisprudence Scholar from 1963 to 1966. This academic foundation set the stage for his early professional journey, beginning as a Senior Partner with Coopers and Lybrand Lagos (now part of PwC) between 1966 and 1970. His background in law and corporate finance has remained a central pillar in his business career.
He is also the Founder and Chairman of Ladol Group, developers of Nigeria’s largest indigenous Free Zone Industrial Park, which supports major industrial and offshore operations. In addition, he chairs the board of Niger Delta Exploration and Production Plc, one of the country’s leading indigenous oil and gas companies.
FCMB subsidiaries include FCMB Capital Markets, CSL Stockbrokers, FCMB Microfinance, and Credit Direct Finance Company. FCMB has 60 directors, with assets growing from N7.05 trillion (2024) to N7.23 trillion (9 months 2025), reflecting incremental expansion.
Sola David-Borha – Chairman Stanbic IBTC Holdings Plc
Asset: N8.3 trillion
Sola David-Borha was appointed Chairman of Stanbic IBTC Holdings Plc in September 2024, following the retirement of Mr. Basil Omiyi and the completion of all regulatory approvals. Her appointment comes at a time of strong financial momentum for the group, underscoring the board’s confidence in her depth of leadership and institutional knowledge.
Mrs. David-Borha brings over 30 years of experience in financial services across Africa. She retired in 2021 as Chief Executive of Standard Bank’s Africa Regions, after previously serving as Chief Executive of Stanbic IBTC Holdings Plc and Stanbic IBTC Bank.
The group oversees multiple subsidiaries such as Stanbic IBTC Bank, Pension Managers, Asset Management, Capital, Insurance, Trustees, and fintech unit Zest Payments. Stanbic recorded N6.91 trillion in assets in 2024, rising to N8.38 trillion by 9M 2025, highlighting modest but steady growth.
An alumna of Harvard Business School and the Global CEO Program of CEIBS, Wharton and IESE, Mrs. David-Borha also serves as a Non-Executive Director on the boards of Standard Bank of South Africa and Standard Bank Group.
Mustafa Chike-Obi –Chairman Fidelity BankMustafa
Chike-Obi –Chairman Fidelity BankMustafa Chike-Obi –Chairman Fidelity BankMustafa Chike-Obi –Chairman Fidelity Bank
Asset: N10.5 trillion
Mustafa Chike-Obi has been the Chairman of Fidelity Bank since July 2020, bringing a wealth of experience from global investment banking and asset management. He holds a direct share of 39.5 million shares as at 2024.
Before joining Fidelity, he served as Executive Chairman at Alpha African Advisory and held senior positions at major institutions including Chase Merchant Bank, Goldman Sachs, Shoreline Group, Bear Stearns, and Guggenheim Partners.
These roles gave him deep expertise in capital markets, both in mature and emerging economies, including the development and marketing of fixed-income securities to institutional investors. Notably, he pioneered the concept of the Treasury Department in Nigerian banking, heading the first of its kind.
Chike-Obi holds a Bachelor’s degree in Mathematics and an MBA from Stanford School of Business, and serves on the boards of several blue-chip companies.
Under his leadership, Fidelity Bank has demonstrated robust growth. Its structure includes Fidelity Bank UK and limited disclosed subsidiary operations. With 13 shareholders, Fidelity reports N8.82 trillion assets (2024) increasing to N10.55 trillion by 9 month 2025, indicating a growth trajectory.
Sulaiman Burau- Group Chairman Guaranty Trust Holding
Asset: N16.6 trillion
Suleiman Barau was appointed Group Chairman of Guaranty Trust Holding Company Plc (GTCO) earlier in the year, subject to regulatory approval, as part of the group’s long-term succession planning. The appointment was announced at GTCO’s fourth Annual General Meeting, marking a return to the boardroom for one of Nigeria’s most seasoned financial policymakers.
A former Deputy Governor of the Central Bank of Nigeria, Barau brings decades of experience spanning public service, merchant banking, commercial banking, and central banking.
He was a pioneering director of GTCO following its restructuring and is widely regarded for his deep understanding of monetary policy, financial stability, and institutional governance.
His public service career spanned over 18 years, including roles as Principal Economist at the Nigerian Mining Corporation, Special Adviser to the CBN Governor, Acting Managing Director of the Nigerian Security Printing and Minting Plc, and two-term Deputy Governor before retiring in 2017.
Barau assumes the chairmanship at a time of balance-sheet expansion for GTCO. For the nine months ended September 2025, the group reported profit of N699.64 billion, reflecting a decline from the prior year due to the absence of exceptional foreign-exchange gains.
The group spans multiple countries through subsidiaries including GTBank Gambia, Liberia, Sierra Leone, Ghana, Kenya, Tanzania, and asset management arms like GT Pension Managers and GT Fund Managers. GTCO lists 10 directors, managing N14.79 trillion in total assets in 2024, growing to N16.66 trillion by 9months 2025, suggesting sustained expansion and strong market positioning.
Olufemi Otedola- Chairman FIRST HOLDCO PLC
Asset: N26.3 trillion
FBN Holdings is chaired by Olufemi Otedola, now the largest shareholder with 1.69 billion direct and 2.54 billion indirect shares, gaining influence following appointments between August 2023 and January 2024.
He rose to prominence in the downstream oil and gas sector through Zenon Petroleum and Gas Limited, before acquiring African Petroleum Plc in 2007 and repositioning it as Forte Oil Plc. The company became a benchmark for strong governance and operational excellence prior to his full divestment in 2019.
He subsequently deepened his long-standing commitment to the power sector through Geregu Power Plc, where the rehabilitated 435MW plant contributes about 9% of Nigeria’s grid-available generation capacity.
The group includes major subsidiaries such as First Bank of Nigeria, FBNQuest Merchant Bank, First Securities Brokers, and the insurance arm under First Insurance Brokers Limited. With nine directors, FBN posted N26.52 trillion assets in 2024, with N26.39 trillion recorded as of 9-month 2025, showing relative stability during its restructuring and governance consolidation phase.
Jim Ovia- Chairman Zenith Bank
Jim Ovia- Chairman Zenith Bank
Jim Ovia- Chairman Zenith BankAsset: N31.1 trillion Jim Ovia, CFR, CON, MFR, is the founder and chairman of Zenith Bank Plc, one of Africa’s largest banks with over $24 billion in assets and shareholders’ funds exceeding $3 billion as of June 2022. A globally recognized financial institution, Zenith Bank is listed on both the London Stock Exchange and the Nigerian Stock Exchange, with major operations across Nigeria, West Africa, London, and Dubai.Jim Ovia was appointed Chairman of Zenith Bank on July 16, 2014, following the CBN’s directive that limited CEOs’ tenures. Ovia currently owns 3.5 million direct and 1.5 million indirect shares of the bank, making him the highest shareholder.Ovia is also the founder and chancellor of James Hope University, Lekki, which was recently approved by the National Universities Commission (NUC) to offer postgraduate business degrees.Through the Jim Ovia Foundation, he has championed education in Nigeria, providing scholarships to indigent students via the MUSTE initiative, producing a generation of professionals including accountants, lawyers, engineers, and doctors. He is the author of Africa Rise And Shine, capturing Zenith Bank’s journey and offering insights into doing business in Africa.An alumnus of Harvard Business School (OPM), University of Louisiana (MBA), and Southern University (B.Sc. Business Administration), Ovia is a member of the World Economic Forum Community of Chairpersons.The bank’s group structure features subsidiaries across Africa including Zenith Bank Ghana, Sierra Leone, Gambia, as well as the UK arm and non-banking entities like Zenith Pensions Custodian Limited and Zenith Nominees Limited. Zenith Bank reports 14 directors and N29.96 trillion total assets in 2024, rising to approximately N31.18 trillion by 9 months 2025, signaling balance sheet growth.
Tony Elumelu-Chairman UBA
Asset: N32.4 trillion
Tony O. Elumelu, CFR, stands among Africa’s most influential business leaders, combining large-scale enterprise building with a deeply rooted commitment to inclusive economic development. Elumelu sits on a board that consists of 15 directors. His closely held direct shares are 195.1 million and 2.3 billion indirect shares.In 2010, he founded Heirs Holdings, an African investment company with interests spanning financial services, power generation, oil and gas, agribusiness, real estate, and hospitality. That same year, he established the Tony Elumelu Foundation, an Africa-based and African-funded philanthropy dedicated to empowering entrepreneurs across the continent.
He currently serves as Chairman of Heirs Holdings, UBA Group Plc, and Transcorp Plc, Nigeria’s largest listed conglomerate.Elumelu first rose to prominence by transforming Standard Trust Bank, before leading its landmark 2005 merger with United Bank for Africa (UBA), creating one of Africa’s most geographically diversified banking groups. Today, UBA operates in 20 African countries, with an international footprint spanning New York, London, Paris, and Dubai.For the nine months ended September 30, 2025, UBA Group reported a profit after tax of N537.5 billion, up 2.3% year-on-year.
UBA operates one of Africa’s largest pan-African networks with subsidiaries in Ghana, Cote d’Ivoire, Zambia, Senegal, Congo DRC, Kenya, Tanzania, Mali, Mozambique and more, plus UBA UK. UBA posted N30.32 trillion in assets (2024), improving to N32.49 trillion by 9month 2025, reflecting the benefits of its international banking footprint.
Papa Madiaw Ndiaye- Chairman ECOBANK TRANSNATIONAL INCORPORATED
Asset: N47.3 trillion
Papa Madiaw Ndiaye is the CEO and Founding Partner of AFIG Funds, one of Africa’s leading private equity fund management firms, and was appointed Chairman of Ecobank Transnational Incorporated (ETI) on June 6, 2024.Under his leadership, AFIG Funds, the first major African-controlled fund manager, oversees $270 million in assets and focuses exclusively on investments in indigenous African companies.
Ndiaye also chairs the firm’s Investment Committee, guiding strategic direction and investor relations.Before founding AFIG Funds, he was Co-Founder and Investment Director at Emerging Markets Partnership (EMP, now ECP) in Washington, and previously served in the IFC’s investment department, where he played a key role in launching banks, insurance companies, and funds across Africa.His early career included stints on Wall Street at Salomon Brothers and JP Morgan’s Emerging Markets Group.He holds a joint MBA from Wharton and MA in International Affairs from the University of Pennsylvania’s Lauder Institute, as well as a BA in Economics from Harvard.For the year ended September 30, 2025, the group
Ecobank Transnational Incorporated (ETI) and its subsidiaries has presence in 39 countries and employed over 13,968 people as at 30 September 2025. The ETI board is controlled by 14 members.
AigbojeAig Imoukhuede- Chairman ACCESS HOLDINGS PLC
Asset: N52.1 trillion
Aigboje Aig-Imoukhuede, CFR, is a distinguished investor, banker, and philanthropist whose influence spans Nigeria’s financial markets, public sector reform, and social development. As the chairman he holds 178.8 million direct shares of the bank and 4.8 billion indirect shares. .orted a profit after tax of N711.92 billion.indirect shares.
.He is the co-founder of Tengen Family Office, where he oversees a diversified investment portfolio, while his philanthropic work is anchored by the Aig-Imoukhuede Foundation, the Africa Initiative for Governance, and the Aig-Imoukhuede Institute. Through these platforms, he is focused on strengthening public sector leadership, improving governance outcomes, and expanding access to quality primary healthcare in Nigeria.Aig-Imoukhuede is best known for his tenure as Group Managing Director of Access Bank Plc from 2002 to 2013, during which he led the bank’s transformation into one of Nigeria’s top five financial institutions. Access Holdings Plc has a total of 11 directors on its board. As at the time of this report, Access Bank Plc, Hydrogen Payment Services Company Limited, Access
ARM Pensions Limited, Access Insurance Brokers Limited and Oxygen X Finance Company Limited are in operation as subsidiaries of the Company.Subsidiaries within the group include Access Bank Plc, Access ARM Pensions, Hydrogen Payment Services, and Oxygen X Finance, representing diversified financial services. Access Holdings recorded N41.49 trillion in assets (2024), advancing to N52.19 trillion in 9-month 2025, a sharp rise highlighting its aggressive growth and acquisition strategy.
