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.
Mr. Folasope Babasola Aiyesimoju is the Group Managing Director and CEO of UAC of Nigeria Plc, a role he assumed on April 1, 2019. His appointment, according to the company’s board, marked UAC’s commitment to accelerate change within the group.
Before becoming Group MD/CEO, Aiyesimoju joined the board of UAC in March 2018 as a member of the Governance and Remuneration Committee. Later that year, he was appointed Managing Director/CEO of UACN Property Development Plc (UPDC).
- He also served concurrently as MD/CEO of UPDC until a new substantive head was appointed.
- Aiyesimoju holds 59.94 million direct shares and 70.78 million indirect shares, bringing his total stake to 130.72 million units. This represents 4.47% of UACN’s total 2.92 billion shares.
- Mr. Aiyesimoju holds a B.Sc. (Hons) in Estate Management from the University of Lagos, where he was awarded a Certificate of Excellence in Real Estate Development and Finance. He earned the Chartered Financial Analyst (CFA) designation in 2006.
A finance professional with extensive experience in corporate finance, principal investing, and private equity, Aiyesimoju is the founder of Themis Capital Management, an investment firm dedicated to high-potential opportunities in Sub-Saharan Africa. He co-founded Foodpro Limited, a nutritional snacks company specializing in edible nuts, where he currently serves as a non-executive director.
At the closing share price of N73 on August 29, 2025, his stake is valued at about N9.54 billion.
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?