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 Managing Director / Chief Executive Officer
- 2024 Compensation: N874 million
- 2023 Compensation: N2.1 billion (predecessor)
- % Change: -58.4% YoY
- CEO compensation declined compared to the predecessor, possibly due to the mid-year appointment
About the CEO:
Dame (Dr.) Adaora Umeoji, OON, assumed the role of GMD/CEO of Zenith Bank Plc on June 1, 2024, becoming the first woman to lead Nigeria’s largest bank by assets.
A seasoned banker with over two decades of experience. She joined the board in 2012 and served as Deputy Managing Director (2016–2024).
Renowned for her academic rigor and strong leadership acumen, Umeoji holds multiple advanced degrees, including an MBA, an LL.M, and a Doctorate in Business Administration. She is also an alumna of Harvard Business School’s Advanced Management Program and has earned executive certifications from Columbia, MIT, and Wharton.
About the Company/ Performance Highlights:
- Sector: Banking
- Total Assets (2024): N29.958 trillion
- 2024 Revenue: N3.971 trillion
- 2024 Profit Before Tax: N1.32 trillion (YoY: +66.6%)
- Profit after tax crossed the N1 trillion mark, rising 52.5% YoY
- Pre-tax profits surged 66.6%, underscoring strong fundamentals and strategic growth
