The Nigerian Exchange (NGX) hosts some of the country’s most influential companies, many led by CEOs who do more than oversee operations.
A select group of these executives also stands out as major shareholders, combining managerial authority with significant personal stakes.
Large shareholding by a CEO is often seen as a signal of confidence in a company’s long-term prospects.
It aligns the interests of management with those of other shareholders, since the fortunes of both rise and fall together.
In markets like Nigeria’s, where corporate governance and investor trust are constant talking points, such ownership structures provide added reassurance about accountability and decision-making.
At the same time, the size of their stakes not only reflects financial strength but also hints at the level of control they wield in steering company policies, strategies, and growth paths. This makes their positions unique when compared to executives whose personal financial exposure is limited.
Nairametrics has compiled this report using the latest disclosures by companies on directors’ shareholdings. Where available, figures are drawn from Q2 2025 filings; otherwise, data from FY 2024 reports were referenced.
Collectively, the top ten CEOs on the NGX hold over 5.23 billion shares in their respective companies, spanning the financial services, insurance, and conglomerate sectors.
Here are the top ten CEOs of NGX-listed companies with the largest shareholdings in their companies.
Peter Ashade is the Chief Executive Officer of United Capital Plc, holding 6.56 million direct shares and 44.35 million indirect shares, bringing his total shareholding to approximately 50.9 million shares.
Ashade’s total shareholding of 50.9 million represents 0.28% of United Capital’s total shares of 18 billion.
- He is an astute corporate executive renowned for his expertise in execution, business transformation, organizational strategy, and leadership, with an illustrious career spanning over 34 years in Nigeria’s financial sector, including more than two decades as Chief Executive of leading financial institutions.
- Ashade has extensive experience in finance, with specialist knowledge in retail business development, banking, and capital market operations, having participated in numerous notable market transactions across all segments of the financial markets.
He holds an MBA in Marketing from the University of Ife (now Obafemi Awolowo University), an MSc in Finance from the University of Lagos, and a BSc in Banking and Finance from Ogun State University (now Olabisi Onabanjo University).
Prior to joining United Capital Plc, Peter served as Managing Director/CEO of Africa Prudential Plc (formerly UBA Registrars Limited). He sits on the board of notable organizations and has been the Group Chief Executive Officer of United Capital Plc since his appointment in July 2018.
At the closing share price of N19.3 on August 29, 2025, his 50.91 million shares are valued at approximately N982.53 million.
These are mostly financial organizations. Is it wiser to buy shares of a company where the CEO has a larger stake, or one where the CEO has a smaller stake?