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.
Eleanor Adaralegbe is a prominent finance executive with over 30 years of experience in the oil and gas industry.
- A Mathematics graduate from the University of Nigeria Nsukka, she holds an MSc in Global Finance from BAYES Business School and completed Harvard’s Advanced Management Program. She is also a chartered accountant and a Fellow of the Institute of Chartered Accountants of Nigeria.
- Eleanor began her career at Ernst & Young International and has since held pivotal roles, including Vice President of Finance and CFO Designate at Seplat Energy PLC. Her career spans significant positions at ConocoPhillips, Addax Petroleum, and Devon Energy.
- She led finance operations at Devon’s Nigerian subsidiary, negotiating a major gas plant buyback, and executing financial due diligence for a $500 million acquisition listed on the London Stock Exchange.
Eleanor contributed to Seplat’s adoption of IFRS S1 & S2 sustainability reporting standards. She also serves on the board of Elcrest Exploration Nigeria Limited
Seplat Energy has a market capitalization of N2.16 trillion with a share price of N3,682. Seplat Energy Plc achieved a pre-tax profit of N140.5 billion for Q2 2024, reflecting an extraordinary year-on-year increase of 3,480% from N3.9 billion in Q2 2023. The company’s revenue for the same period surged by 142.5% year-on-year, reaching N306.4 billion compared to N126.3 billion in Q2 2023. In addition, Seplat Energy’s total assets have reached N4.7 trillion, reflecting a robust 55% year-on-year growth.
