These Are The Highest Paid Nigerian Bank CEOs In 2016 That You Probably Didn’t Know About

 

The following is a list of highest paid chief executive officers (CEOS) in Nigeria as at 2016.

 

1 GT Bank: Segun Agbaje – 204.2 million

2 Union Bank: Emeka Emuwa – 166.0 million

3 UBA Bank: Kennedy Uzoka – 119.0 million

4 Fidelity Bank: Nnamdi Okonkwo – 102.0 million

5 Zenith Bank: Peter Amangbo –  88.0 million

6 Access Bank: Herbert Wigwe – 85.2 million

7 FCMB: Ladi Balogun – 81.0 million

8 Stanbic IBTC: Sola David-Borha – 78.0 million

9 Diamond Bank: Uzoma Edozie – 25.2 million

According to Nairametrics;

GTBank, the most profitable bank pays its CEO the highest. GTBank is miles ahead of its peers by several metrics, taking over 20% more than the next highest paid CEO. Although, in dollar terms, this is just under $700,000 [depending on which CBN window Mr Agbaje is able to access].

Second place is Emeka Emuwa Union Bank (after spending 25 years in Citibank), understandably so – a high premium would have been required to attract him from his previous life at Citibank to lead the transformation of UBN after the near collapse in 2009.

For UBA, the former CEO retired in July 2016 so it’s uncertain if that amount is annualized for Kennedy or the prorated amount from July to December. There’s a similar dilemma with Stanbic IBTC, if the highest paid is for Yinka Sanni (MD Stanbic IBTC Bank) or Sola Borha, but for the sake of this article, we’d stick with Sola Borha.

The most interesting is Diamond Bank. His salary is what a comparable assistant- or deputy- general manager earns at other banks.

Side note: First Bank is not included in this because its audited financial are unavailable at the time of this report. Rough guess, it’s CEO earns somewhere north of the Union Bank amount, especially considering he was head hunted from Africa Finance Corporation where his compensation was most likely in denominated in USD.

 

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