The Nigerian banking sector stands as a cornerstone of one of the fastest-growing sectors in the country, experiencing an estimated growth rate of 26.53% – a notable increase from the 16.36% recorded in 2022.
In 2023, the banking sector saw a substantial 114.89% growth on the NGX banking index, reflecting strong investor confidence.
Nigerian banks reported a combined pre-tax profit of N1.58 trillion in Q1 2024, a 263% increase from N436 billion in Q1 2023.
GTCO achieved the highest quarterly profit in the sector’s history. This strong performance was driven by increased net interest income and gains from financial instruments due to rising interest rates and Naira fluctuations.
Chief Risk Officers (CROs) are crucial in managing risks in these banks, ensuring strong frameworks to protect financial stability. Here are the CROs behind risk management in Nigeria’s top 7 banks by market capitalization as of August 29, 2024.
Market Cap: N675.35 billion
Dr. Jobome was appointed Chief Risk Officer of Access Holdings in 2017. His tenure at Access Bank Plc started in July 2010, where he assumed the roles of General Manager and Chief Risk Officer. Prior to this, he served as a Risk Management Consultant to Guaranty Trust Bank Plc, making significant contributions to Access Bank’s advancements in risk management practices.
- He has an illustrious career spanning over 26 years across esteemed institutions such as Guaranty Trust Bank, the University of Liverpool Management School, Manchester Business School, and Access Bank Plc.
- With a first-class degree in Economics from the University of Maiduguri in 1986 and a Distinction in Master’s in Business Administration from Obafemi Awolowo University in 1990- he earned a Master of Science Degree (1994) and a Doctorate degree (2002), both in Economics and Finance from Loughborough University, UK.
- Widely respected in the industry, Dr. Jobome has held various leadership positions, including Chairman of CRC Credit Bureau Ltd, President of the Risk Management Association of Nigeria, and Member of the Working Group on Regulatory Reforms at the Institute of International Finance.
