By Ghazali Ibrahim
Nigeria’s banking sector is undergoing a quiet but powerful transformation in 2026, as women increasingly occupy the highest decision-making positions across commercial, merchant, and non-interest banks. Once dominated almost entirely by men, the leadership landscape of the financial services industry is now more diverse, reflecting years of progress in corporate governance, talent development, and gender inclusion.
From tier-one commercial banks to merchant and ethical banking institutions, female chief executives are now driving strategy, overseeing billions of naira in assets, and steering their organisations through economic reforms, regulatory changes, and rapid digital transformation.
At Union Bank of Nigeria, one of the country’s oldest financial institutions, Yetunde Oni serves as Chief Executive Officer, leading efforts focused on operational efficiency, customer experience, and long-term sustainability. Her leadership represents continuity and renewal within a bank that has played a historic role in Nigeria’s financial system.
Nneka Onyeali-Ikpe, CEO of Fidelity Bank, remains one of the most prominent female figures in Nigerian banking. Under her leadership, Fidelity has recorded consistent growth in profitability, expanded its digital offerings, and strengthened its position among mid-tier lenders competing with larger banks.
At the holding-company level, Yemisi Agbede heads Access Holdings, the parent company of Access Bank and several non-bank financial subsidiaries. She oversees one of Africa’s largest financial services groups by assets, with operations spanning multiple countries, reflecting the increasing presence of Nigerian banks on the continental stage.
Similarly, Yemisi Edun, CEO of First City Monument Bank (FCMB), leads a financial institution with strong roots in retail, corporate, and SME banking. Her leadership has focused on balance-sheet resilience, customer-centric products, and digital innovation amid a highly competitive market.
The rise of women is also evident in alternative and specialised banking. Kafilat Araoye, CEO of Lotus Bank, is a key figure in Nigeria’s non-interest banking space, promoting ethical finance and expanding access to Sharia-compliant financial products. Her role highlights the diversification of Nigeria’s banking model beyond conventional lending.
In global banking, Ireti Samuel-Ogbu leads Citibank Nigeria as CEO, bringing international experience and standards to the local market. Her leadership underscores the confidence multinational financial institutions place in Nigerian executives to manage complex, cross-border operations.
Tier-one banks are also part of this changing narrative. Olusanya Miriam, CEO of GTBank, heads one of Nigeria’s most recognisable financial brands, known for innovation, strong corporate governance, and digital leadership.
At Zenith Bank Plc, Adora Umeoji serves as Managing Director and CEO, marking a significant milestone in the bank’s history and reinforcing its reputation for stability and disciplined management.
Smaller commercial banks are not left out. Halima Buba, CEO of SunTrust Bank, has positioned the bank as a growing player with a focus on innovation and inclusive banking. At Unity Bank, Tomi Somefun continues as CEO, having overseen restructuring efforts and balance-sheet stabilisation during challenging economic periods.
In the merchant banking segment, Bukola Smith leads FSDH Merchant Bank, a key player in investment banking, advisory services, and capital market transactions. Her role highlights women’s growing influence beyond retail and commercial banking into high-level financial advisory and capital structuring.
Analysts say the increasing number of female CEOs in Nigeria’s banking sector is not merely symbolic. It reflects deliberate succession planning, stronger governance frameworks, and a gradual shift toward merit-based leadership selection.
These executives are now judged primarily on performance, risk management, innovation, and their ability to navigate Nigeria’s evolving economic and regulatory environment.
As the country continues to implement financial sector reforms, embrace digital banking, and respond to global economic pressures, women leaders are expected to play an increasingly critical role in shaping the future of Nigeria’s financial system.
