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The first half of 2026 saw a wave of leadership changes across companies listed on the Nigerian Exchange (NGX), as boards announced new chief executives, chairmen and senior executives to drive their next phase of growth.
The appointments were driven by a combination of regulatory tenure limits, retirements, succession planning and strategic restructuring across sectors including banking, energy, manufacturing, insurance and consumer goods.
Several of the new appointees are long-serving insiders with deep institutional knowledge, while others were recruited from leading local and multinational organisations, bringing decades of experience in finance, engineering, manufacturing, energy, consumer goods, corporate governance, and public policy.
Their appointments highlight the increasing emphasis boards are placing on leadership continuity, operational excellence, and the ability to navigate an increasingly competitive business environment.
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This article brings together the chairpersons, managing directors, and chief executive officers appointed by NGX-listed companies during the first half of 2026. It highlights their educational backgrounds, career journeys, leadership experience, and the expertise they are expected to deploy as they take on some of the most influential corporate roles in Nigeria’s capital market.
Amaka Onwughalu-Chairman Fidelity Bank
Mrs. Amaka Onwughalu is a seasoned banking executive with more than three decades of experience spanning commercial banking, retail banking, and executive leadership. Since January 1, 2026, she was appointed Chairman of the Board of Fidelity Bank Plc, succeeding Mr. Mustafa Chike-Obi following the completion of his tenure.
Before assuming the chairmanship, Onwughalu had served as a Non-Executive Director on Fidelity Bank’s Board since December 2020, where she chaired the Board Credit Committee and the Board Committee on Bank Capitalisation. She also played key oversight roles as a member of the Board Finance and General-Purpose Committee, Board Remuneration, Nomination and Governance Committee, and previously chaired the Board Risk Management Committee.
She is the former Group Managing Director of legacy Mainstreet Bank Limited, where she led the successful integration of the bank with Skye Bank Plc before serving as Deputy Managing Director until her retirement in 2016.
Onwughalu holds a Bachelor’s degree in Economics from the University of Buckingham, an MBA from the University of Port Harcourt, and an MSc in Corporate Governance from Leeds Metropolitan University. She has completed executive programmes at leading global institutions, including INSEAD, IMD, the University of Cambridge, Columbia Business School, Stanford Graduate School of Business, and Harvard Kennedy School.
Lucas Durojaiye-MD/CEO Sovereign Trust Insurance
Dr. Lucas A. Durojaiye is an accomplished insurance executive with more than 27 years of experience spanning insurance brokerage,and public sector insurance.
He was appointed Managing Director/Chief Executive Officer of Sovereign Trust Insurance Plc following the retirement of Mr. Olaotan Soyinka in December 2025, after receiving the approval of the Board of Directors and the National Insurance Commission (NAICOM) in January 3, 2026
Prior to his appointment, Durojaiye served as Geneonl Manager at Sovereign Trust Insurance Plc, where he also headed the Northern Area Operations and the National Public Sector business.
Popularly known as “Dr. LAD,” his career spans several leading institutions in Nigeria’s insurance industry, including FBN Insurance Brokers, where he rose to Acting Managing Director, as well as Cornerstone Insurance Plc and Mutual Benefits Assurance Plc before joining Sovereign Trust Insurance Plc.
Durojaiye holds a Mast,er’s degree from Anglia Ruskin University, London, a Postgraduate Diploma in Business Strategy from ABP United Kingdom, and both a Master’s and Doctorate in Business Administration from Nasarawa State University, Keffi.
He also earned a Graduate Diploma in Insurance from Lagos State Polytechnic. An alumnus of Lagos Business School’s Senior Management Programme (SMP 51), he is an Associate Member of the Chartered Insurance Institute of Nigeria (CIIN) and the Nigerian Council of Registered Insurance Brokers (NCRIB), and a Chartered Fellow of several professional institutes.
Adewale Arikawe-CEO SIAT Group
Adewale Arikawe is an experienced business leader with a distinguished career spanning more than 26 years across the fast-moving consumer goods (FMCG) and agribusiness sectors.
Appointed Group Chief Executive Officer of SIAT since January 2, 2026, he is responsible for leading the group’s operations across West Africa, including Presco Plc, SIAT Nigeria Limited, and Ghana Oil Palm Development Company Limited.
In addition to his role as Group CEO, Arikawe was appointed a Non-Executive Director of Presco Plc, succeeding Mr. Felix Nwabuko, who retired after years of service to SIAT and its subsidiaries.
Before joining SIAT, Arikawe held several senior leadership positions at Royal FrieslandCampina, where he oversaw operations across Sub-Saharan Africa, and at FrieslandCampina WAMCO Nigeria, contributing to the company’s commercial growth and market expansion. Earlier in his career, he held key management roles at Nestlé Nigeria Plc, leading multi-channel sales operations and supporting strategic business development initiatives.
Arikawe holds a Master of Business Administration (MBA) in Business Administration and Management from the University of Chichester. He has also completed executive leadership programmes at London Business School and IMD Lausanne, Switzerland, with a focus on leadership, execution excellence, and organisational performance.
Ifeyinwa Osime-Chairman, Access Bank
Mrs. Ifeyinwa Osime is an accomplished legal practitioner and corporate governance expert with decades of experience spanning legal practice, board leadership, corporate governance, and strategic oversight. She was appointed Chairman of the Board of Access Bank Plc with effect from January 28, 2026, after serving as an Independent Non-Executive Director since November 2019. Her appointment reflects the bank’s commitment to strong corporate governance and leadership continuity.
Prior to becoming Chairman, Osime chaired the Board Human Resources and Sustainability Committee and the Board Governance, Nomination and Remuneration Committee.
She began her career at Nigeria Reinsurance Corporation before joining African Development Insurance Company Limited (now NSIA Insurance) as Company Secretary and Assistant General Manager, Administration and Legal. She is currently a Partner at McPherson Legal Practitioners, advising clients on corporate and commercial legal matters while contributing to the firm’s strategic direction. She has also served on several corporate boards, including as former Board Chairman of Coronation Life Insurance Company Ltd., and is currently a director of Ebudo Trust Limited.
Osime graduated from the University of Benin and was called to the Nigerian Bar in 1987. She holds a Master of Laws (LL.M) in Commercial and Corporate Law from the London School of Economics and has completed executive programmes at INSEAD, IMD, Harvard Business School, MIT, and Stanford University.
Goodwill Sunday –MD/CEO Meyer Plc
Engr. Goodwill Sunday Asade is a seasoned manufacturing and business transformation executive with over 30 years of experience driving operational excellence, procurement strategy, commercial growth, and organisational transformation across Nigeria’s industrial sector. He was appointed Managing Director/Chief Executive Officer of Meyer Plc, effective March 3, 2026, to lead the paint manufacturer’s next phase of strategic growth and value creation.
Asade began his career at Cadbury Nigeria Plc, where he spent 18 years in increasingly senior roles across manufacturing, plant maintenance, operations management, sourcing strategy, commodity management, project management, and SAP-driven procurement systems. His broad operational expertise laid the foundation for a leadership career spanning multiple business functions.
He joined A.G. Leventis (Nig.) Plc as Group Procurement Director in 2013 and was promoted to Chief Operating Officer in 2018. In that role, he oversaw the company’s motors business, sales and marketing, after-sales engineering, truck assembly operations, procurement, fleet solutions, real estate, and quality, health, safety and environmental (QHSE) functions, helping drive operational efficiency and business performance.
A mechanical engineering graduate of the University of Ilorin, Asade also holds an MBA from the University of Lagos and has completed executive education at Harvard Business School. He is a Fellow of the Nigerian Institute of Management (NIM), a registered engineer with the Council for the Regulation of Engineering in Nigeria (COREN), and a member of both the Nigerian Society of Engineers (NSE) and the Chartered Institute of Procurement and Supply (CIPS), UK.
Uchechukwu Igbokwe-Acting CEO Cutix Plc
Mrs. Uchechukwu Igbokwe was appointed Acting Chief Executive Officer of Cutix Plc on March 5, 2026, following the exit of the company’s former Chief Executive Officer, Mrs. Ijeoma Oduonye. A long-serving executive, she brings over three decades of experience at the cable manufacturing company, having joined Cutix Plc in 1992.
Before her appointment, Igbokwe served as Assistant General Manager and Head of Strategy and Planning in the Office of the Chief Executive Officer, where she oversaw strategic planning and administrative functions. During her 30-plus years with the company, she has held positions across Enterprise Assurance, Commercial, Finance, Administration, Human Resources, and the Anuka Plant, giving her broad operational and management experience.
She holds a Higher National Diploma in Accountancy from the Federal Polytechnic, Oko, and is pursuing postgraduate studies at Chukwuemeka Odumegwu Ojukwu University, Igbariam. She is a Certified Lead Auditor of Quality Management Systems and an Associate of the National Institute of Marketing of Nigeria.
Igbokwe has also completed executive and professional development programmes at Lagos Business School and through Tom Associates, with training in leadership, supply chain management, and organisational effectiveness.
Mustafa Bello-Chairman Zenith Bank
Engr. Mustafa Bello is a veteran engineer, public sector administrator, and investment promotion expert with nearly five decades of leadership experience spanning engineering, public policy, trade, and corporate governance. He was appointed Chairman of Zenith Bank Plc on May 5, 2026, succeeding the bank’s founder, Jim Ovia, following the completion of his regulatory tenure. Bello, who joined the bank’s Board in December 2017, is the longest-serving director and brings extensive boardroom and leadership experience to the role.
Bello began his career in the Directorate of Quartering and Engineering Services of the Nigerian Army before joining the Niger State Housing Corporation as a Senior Civil Engineer. He later served as Nigeria’s Minister of Commerce between 1999 and 2002 under President Olusegun Obasanjo, where he played a key role in shaping the country’s trade and economic policies.
In 2003, he was appointed Executive Secretary and Chief Executive Officer of the Nigerian Investment Promotion Commission (NIPC), a position he held until 2014. During his tenure, Nigeria recorded a significant rise in foreign direct investment, with inflows increasing from about $2 billion in 2003 to a record $8.84 billion in 2011 as the commission intensified efforts to attract global investors and improve the country’s investment climate.
Bello holds a Bachelor of Engineering degree in Civil Engineering from Ahmadu Bello University, where he graduated with Second Class Upper Division and won the Shell Prize for the best engineering project in 1978. He currently chairs Invest-in-Northern Nigeria Limited and has represented Nigeria at numerous international trade, investment, and economic policy forums.
Ayman Hussein Gaafar- MD Cadbury Nigeria Plc
Ayman Hussein Gaafar was appointed Managing Director of Cadbury Nigeria Plc in May 15, 2026, following the approval of the company’s Board of Directors. His appointment was made on the recommendation of the Board’s Governance and Risk Committee. He succeeded Mrs. Folake Ogundipe, who served as Interim Managing Director during a key transition period.
Gaafar is an experienced consumer goods executive with a strong track record of leading multinational businesses and driving commercial growth across emerging markets. Over the course of his career, he has built expertise in business strategy, operations management, sales, marketing, supply chain, and organisational transformation within the fast-moving consumer goods (FMCG) industry.
As Managing Director, he is expected to provide strategic leadership for Cadbury Nigeria’s operations, strengthen execution across the business, and drive sustainable growth while enhancing value for shareholders and other stakeholders.
Dr. Jude Nwaulune- MD Eterna Plc
Dr. Jude Nwaulune was appointed Managing Director and Chief Executive Officer of Eterna Plc with effect from May 14, 2026, succeeding Olumide Adeosun following his resignation. He joins the downstream oil and gas company with 19 years of experience across sales, marketing, business development, logistics, supply chain management, and operations.
Prior to his appointment, Nwaulune served as Managing Director of Rainoil Logistics Services Limited, where he oversaw logistics and distribution operations. During his career, he has led initiatives in petroleum retail expansion, LPG market penetration, operational efficiency, business growth, and nationwide supply chain management, establishing a strong track record in Nigeria’s downstream energy industry.
Nwaulune holds a Bachelor’s degree in Business Administration from Ambrose Alli University, a Postgraduate Diploma in Journalism from the Nigerian Institute of Journalism, a Master of Science in Marketing Communications, and a PhD in Strategic Marketing Management from Babcock University.
He is a member of the Chartered Institute of Logistics and Transport (CILT), the Chartered Institute of Personnel Management of Nigeria (CIPM), the National Institute of Marketing of Nigeria (NIMN), the Nigerian Institute of Management (NIM), the Nigerian Institute of Public Relations (NIPR), and the Nigerian Institute of Training and Development (NITAD).
Oghale Joseph Elueni- MD/CEO PZ Cussons
Oghale Joseph Elueni was appointed Managing Director and Chief Executive Officer of PZ Cussons Nigeria Plc, effective June 1, 2026, succeeding Dimitrios Kostianis, who stepped down after three years to assume a new role within the wider PZ Cussons Group. Previously Managing Director of the company’s Consumer business, Elueni has been with PZ Cussons Nigeria since 2021 and also serves on the Group’s Global Executive Committee.
A consumer goods executive with more than two decades of international experience, Elueni has held senior leadership roles across Africa, North America and other emerging markets. Before joining PZ Cussons, he was General Manager for Sub-Saharan Africa at SC Johnson, where he oversaw the company’s profit and loss performance across key markets including South Africa, Nigeria, Kenya, Ghana, Côte d’Ivoire and Ethiopia. He also served as Managing Director for West Africa, leading operations across Nigeria, Ghana, Côte d’Ivoire and Senegal.
Earlier in his career, Elueni spent more than 13 years at Procter & Gamble, holding a series of commercial and strategic leadership positions, including Country Sales Manager for the company’s Sub-Saharan African Expansion Markets. A graduate of the University of Ibadan, he is recognised for his expertise in commercial strategy, business transformation and market expansion, having built a career leading multinational consumer goods businesses across diverse and high-growth markets.
Effiong Okon-Incoming CEO Seplat Energy Plc
Engr. Effiong Okon was named incoming Chief Executive Officer of Seplat Energy Plc, effective August 1, 2026, succeeding Roger Brown as the indigenous energy company advances its long-term strategy centred on natural gas, operational excellence, and energy transition. Before his appointment, Okon served as Managing Director of the ANOH Gas Processing Company (AGPC), the joint venture between Seplat Energy and NNPC Limited responsible for delivering the 300MMscfd ANOH gas processing plant.
He began his career at Shell in 1992 as a Petroleum Reservoir Engineer and spent more than 20 years with the company, rising through a series of technical and executive leadership roles, including Chief Reservoir Engineer, General Manager Offshore Assets, General Manager Deepwater Production, Deputy Vice President Technical, and Vice President for Cost Leadership and Continuous Improvement.
During this period, he managed major offshore assets, led multidisciplinary engineering teams, and oversaw multi-billion-dollar capital and operating expenditure portfolios across Africa, Europe, the Middle East, and the United States.
He joined Seplat Energy in 2018 as Executive Director, Operations, before becoming Director, New Energy in 2022, where he led the company’s gas growth and energy transition strategy. Okon holds an engineering degree from the University of Benin and has completed executive programmes at IMD Business School and Harvard Business School. He is a Fellow of the Nigerian Society of Engineers and a member of the Society of Petroleum Engineers.
Segun Oloketuyi-Chairman Chams Holding Company
Mr. Segun Oloketuyi was appointed Chairman of the Board of Chams Holding Company Plc, on July 9, 2026, succeeding the company’s founder, Sir Demola Aladekomo, following his retirement after four decades of leadership. Before his appointment, Oloketuyi served as a Non-Executive Director on the Board, contributing to the company’s governance and strategic direction.
Oloketuyi is a veteran banking executive with more than three decades of experience in corporate finance, enterprise risk management, banking operations, and corporate governance. He is best known for his tenure as Managing Director and Chief Executive Officer of Wema Bank Plc, where he led the bank’s transformation, strengthened its financial position, and drove its digital banking strategy.
Prior to Wema Bank, he held senior leadership positions at Skye Bank Plc, serving as General Manager of the Business Optimization Division before being appointed Executive Director for Business Development. He also served at Polaris Bank as Deputy General Manager for Corporate and Commercial Markets and later Executive Director for Finance and Enterprise Risk Management. Earlier in his career, he was Managing Director of Bond Bank Limited and began his professional journey in auditing at Deloitte & Touche.
A Fellow of the Institute of Chartered Accountants of Nigeria (ICAN), Oloketuyi is also a member of the Institute of Directors. Beyond Chams Holding, he has served as Chairman of Great Nigeria Insurance Plc and currently chairs Japaul Gold & Ventures Plc and Greenwich Merchant Bank, bringing extensive boardroom and executive leadership experience across Nigeria’s financial services and corporate sectors.
