Despite Nigeria’s challenging economic environment, characterized by persistent naira devaluation, high inflation, and socio-economic instability, the country’s leading companies have achieved laudable market capitalizations.
This resilience is largely attributed to the adept financial stewardship of their Chief Financial Officers (CFOs), who are key players in guiding their firms through turbulent financial conditions.
These CFOs are instrumental in steering their companies towards stability and growth. They manage financial reporting, strategy, and risk, ensuring that their organizations navigate the economic downturn effectively.
For instance, one of the CFOs in this article successfully managed a bank with a market capitalization of N1.18 trillion, ensuring robust performance amidst economic challenges.
Another has overseen a company’s growth to a market cap of N2.50 trillion, reflecting significant operational and financial success.
Their leadership ensures that despite economic headwinds, their organizations remain resilient and continue to contribute significantly to the national economy.
Meet the Chief Financial Officers driving Nigeria’s largest companies valued at N39.8 trillion combined on the Nigerian Stock Exchange in August 2024.
Dr. Gbenga Fapohunda assumed the role of Acting Group Chief Finance Officer at Dangote Cement Plc on 1 July 2022. A seasoned finance executive with over 22 years of experience joined DCP as Regional Chief Finance Officer for Nigeria on 1 March 2021.
- Prior to this, he served as Executive Finance Director for West Africa at Japan Tobacco International (JTI), where he held a board position. His previous roles include Chief Finance Officer at United Parcel Service (UPS) and Chief Finance Officer at British American Tobacco (BAT) Ghana, where he managed financial operations across 12 African countries.
- Earlier in his career, Dr. Fapohunda worked within the financial advisory division at PricewaterhouseCoopers (PwC) and held a position in KPMG’s Assurance Team. His academic credentials include an MBA in Finance from London Business School, earned on a full merit-based scholarship, and a Doctorate from Rome Business School. He is a Fellow of the Institute of Chartered Accountants of Nigeria and an Associate Member of the Chartered Institute of Taxation.
Dangote Cement has a market capitalization of N10.07 trillion at a share price of N591 as of August 16, 2024.
