The year 2024 marked a pivotal moment for some of Nigeria’s biggest companies, with remarkable growth and strategic leadership steering them to new heights.
During this period, several MDs and CEOs took on the reins of their respective organizations, ushering in fresh leadership that would define the direction of these companies in the years to come.
These leaders were not only tasked with managing vast portfolios but also with navigating through global challenges, volatile markets, and the ever-evolving demands of their industries.
According to Nairametrics’ latest research, Nigeria’s top 10 highest-paid Managing Directors (MDs) and Chief Executive Officers (CEOs) collectively earned a staggering N11.6 billion in 2024, a significant jump from N7.9 billion in 2023
In this special spotlight, Nairametrics breaks down their 2024 earnings, leadership profiles, and the companies they led.
- Position: Group Chief Executive OfficerÂ
- 2024 Compensation: N471 million
- 2023 Compensation: N457 million
- % Change: +3.06%
About the CEO:Â
Segun Julius Agbaje, with over 30 years’ experience in investment, commercial, and international banking, holds a Bachelor of Science in Accounting and an MBA from the University of San Francisco, USA, and is also an alumnus of Harvard Business School.
Before assuming his current role, Mr. Agbaje served as the Managing Director and CEO of Guaranty Trust Bank Plc from June 2011 to July 2021.
Under his leadership, the bank experienced transformative growth, expanding its customer base from under 3 million to over 24 million and increasing its profit before tax from N45.5 billion in 2010 to N238.1 billion in 2020.
About the Company/Performance highlights
- Sector: Banking
- Total Assets (2024): N14.796 trillion
- 2024 Revenue: N2.148 trillion (YoY: +129.6%)
- 2024 Profit Before Tax: N1.266 trillion (YoY: +107.8%)
- Interest expenses grew 148% to N283.22 billion, driven by a 115% rise in deposit costs.
- Customer deposits rose 35% YoY to N10 trillion. ‘
