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More women are taking up influential leadership positions in Nigeria’s corporate sector, with the shift becoming increasingly visible on the boards of companies listed on the Nigerian Exchange (NGX).
The change is not limited to the managing director or chief executive role. Women are also increasingly occupying the chairmanship of corporate boards, putting them in positions responsible for providing strategic oversight, guiding governance and working with executive management on the direction of major businesses.
Data from the 2025 PWR Advisory NGX-30 Board Gender Diversity Scorecard shows that women occupied 31.1% of board seats across Nigeria’s 30 largest listed companies, representing 98 of 315 seats. The number of companies in the group with female board chairs also rose from one in 2024 to three in 2025, while five had female CEOs.
The development comes as the Nigerian equities market itself has expanded in value. By August 31, 2026, companies listed on the NGX had a combined equity market capitalisation of N157.74 trillion, up from N99.38 trillion at the end of 2025.
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Against this backdrop, Nairametrics analysis shows 12 NGX-listed companies with female board chairpersons had a combined market capitalisation of N10.89 trillion as of August 31, 2026, equivalent to about 6.9% of the entire equity market.
The companies span banking, insurance, consumer goods, hospitality, financial services and manufacturing, with their female chairpersons overseeing businesses ranging from multibillion-naira banks to some of the country’s established consumer and industrial companies.
Here are 12 women currently chairing the boards of NGX-listed companies and the market value of the businesses they oversee.
12. Dr. Nwadiuto Iheakanwa – Chairman Secure Electronic Technology Plc
Nwadiuto Iheakanwa took over the chairmanship of Secure Electronic Technology Plc in March 2026, following the resignation of Dr. Odunlami Kola-Daisi from the company’s board. Her appointment became effective on March 26, 2026.
Iheakanwa holds a BSc in Business Management from the University of Detroit, Michigan, and an MBA in Human Resources Management from Central Michigan University. She is also an alumna of the Lagos Business School Advanced Management Programme.
Before becoming chairman, she had served as vice chairman of the company. Dr. Iheakanwa is a member, International Volunteer Effort (South Africa). She is also an Associate member, Advertisers Practitioners Council of Nigeria (APCON) and a member, Newspaper Proprietors’ Association of Nigeria (NPAN).
Secure Electronic Technology, formerly National Sports Lottery, operates in lottery, airtime vending, revenue collection, card payments and treasury and asset management. As of August 31, 2026, the company had a market capitalisation of N4.28 billion.
11. Barr. Ifeoma Regina Nwahiri – Chairman Cutix Plc
Lawyer, entrepreneur and boardroom executive are among the roles that have shaped Ifeoma Regina Nwahiri’s career.
Nwahiri joined the board of Cutix Plc as a non-executive director and has served as chairman. She is the principal partner of Laud Chambers, a position she has held since 2007, following her legal training at Imo State University and the Nigerian Law School in Abuja.
Her career, however, extends beyond legal practice. She previously served as managing director of Soul Mill Limited from 2010 to 2014 and has held board positions outside Cutix, including a previous directorship at Adswitch Plc.
Her relationship with Cutix dates back further than her current board role. She was previously a director of the company from 2005 to 2011 before returning to its board in October 2016.
The combination of legal training and business experience gives Nwahiri a background spanning corporate affairs, governance and entrepreneurship.
Cutix Plc, a Nigerian manufacturer listed on the NGX, recorded a market capitalisation of N16.91 billion as of August 31, 2026,
10. Mrs. Funmi Oyetunji – Chairman Prestige Assurance Plc
Funmi Oyetunji’s career has moved through accounting, banking, investment management and corporate governance, giving her experience across several parts of Nigeria’s financial sector.
A chartered accountant, she has about 40 years of professional experience. Her early career included more than a decade in accounting practice and consultancy in Nigeria and the United Kingdom, including KPMG in the UK. She subsequently spent 10 years in banking, where her career culminated in the position of bank treasurer at First Bank Nigeria.
Since 2002, she has served as chief executive of Abitos Financial Services, where she manages a portfolio of real estate and other investments.
Oyetunji joined Prestige Assurance’s board as an independent non-executive director in 2018 and became chairman on October 26, 2022.
Her boardroom experience also includes roles at Ecobank Nigeria, American Tower Corporation Nigeria and NOVA Merchant Bank, among others. She is a member of the governing council of the Institute of Directors and chairs its Risk and Audit Committee. Prestige Assurance had a market capitalisation of N21.87 billion as of August 31, 2026.
9. Mrs. Christabel Onyejekwe – Chairman Africa Prudential Plc
Christabel Onyejekwe arrived at the chairmanship of Africa Prudential with more than three decades of experience across banking, payments and financial services.
Africa Prudential appointed her chairperson in April 2025, following the retirement of Chief Eniola Fadayomi, who had served on the company’s board for 12 years.
Before taking the chair, Onyejekwe held senior positions in the banking industry and later became Executive Director of Business Development at the Nigeria Inter-Bank Settlement System (NIBSS). She had also served as Executive Director of Technology and Operations at NIBSS, working on business strategies, projects and payment product development.
Her banking career began at First Bank before she moved to UBA, where she rose to general manager and became the pioneer Regional Director for Lagos, overseeing more than 100 branches. She holds an MBA in Banking and Finance and a Bachelor of Law degree, alongside executive programmes at institutions including Wharton, MIT, INSEAD and Harvard.
Africa Prudential, a share registration and business solutions provider, had a market capitalisation of N44.40 billion as of August 31, 2026.
8. Mrs. Okwa Ene Iyana –Chairman Infinity Trust Mortgage Bank Plc
Iyana serves as chairman of the board of Infinity Trust Mortgage Bank, where she brings experience spanning the public and private sectors as well as academia. She began her accounting career in 1988 with Egwu Ogah & Co., a chartered accounting firm in Makurdi, as an audit trainee. She subsequently moved into management consulting.
Her academic qualifications include a BSc in Accounting from Ahmadu Bello University, Zaria, and a master’s degree in Finance from the University of Calabar. She is also a Fellow of the Institute of Chartered Accountants of Nigeria and the Chartered Institute of Taxation of Nigeria.
Iyana’s professional credentials extend to International Financial Reporting Standards, while she is also an associate of the Nigerian Institute of Management.
Her board role at Infinity Trust Mortgage Bank places her at the top of the governance structure of a financial institution focused on mortgage banking and related services. The company’s market capitalisation was N93.84 billion as of August 31, 2026,
7. Mrs. Ifueko M. Omoigui Okauru – Chairman PZ Cussons Nigeria Plc
Ifueko Omoigui Okauru was already a prominent figure in Nigeria’s tax and public-sector landscape before she entered the boardroom of PZ Cussons Nigeria.
She became chairman of PZ Cussons Nigeria’s board on January 25, 2023, becoming the company’s first female board chair. She had joined the board as an independent non-executive director in April 2021.
A chartered accountant and strategy and change management consultant, Okauru spent more than a decade at Arthur Andersen & Co., where she led the firm’s strategy practice. She later became the first female Executive Chairman of the Federal Inland Revenue Service.
Her career has therefore covered professional services, public administration, taxation, corporate strategy and governance. She has also served on the boards of companies including MTN Nigeria and Nigerian Breweries. PZ Cussons Nigeria’s market capitalisation stood at N321.61 billion as of August 31, 2026.
6. Dr. Omobola Johnson – Chairman Custodian Investment Plc
Omobola Johnson brings an unusual combination of engineering, technology, public service and corporate leadership to the boardroom of Custodian Investment Plc.
She holds a BSc in Electrical and Electronics Engineering from the University of Manchester and an MSc in Digital Electronics from King’s College London. She also earned a Doctor of Business Administration from Cranfield University.
Johnson’s corporate career includes her tenure as chairman of Accenture Nigeria. She later served as Nigeria’s Minister of Communications Technology, where her portfolio placed her at the intersection of technology, government and economic development.
She is also the founding chairperson of Women in Management, Business and Public Service (WIMBIZ) and a fellow of the Aspen Global Leadership Network.
At Custodian Investment, she serves as chairman of the board, bringing more than 30 years of experience across the private and public sectors. She also sits on the boards of several companies.
The investment holding company, whose interests include insurance, pensions and other financial services, had a market capitalisation of N432.02 billion as of August 31, 2026.
5. Dr. Oluwayemisi Olorunshola – Chairman Wema Bank Plc
Oluwayemisi Olorunshola came into Wema Bank’s boardroom with a career rooted outside traditional banking.
She joined Wema Bank’s board as a non-executive director in 2022 and was appointed chairman in 2023. Before joining the bank, she spent 15 years at Unilever Nigeria, where her experience covered supply chain, business re-engineering and process management. She also has more than a decade of business management and boardroom experience.
Her academic qualifications include a BSc in Education and Economics from Obafemi Awolowo University, an MBA from the University of Liverpool and a Doctorate in Business Administration from Walden University.
Her responsibilities have also expanded beyond Wema Bank. In 2026, Olorunshola was appointed chairman of the Bank Directors Association of Nigeria, placing her at the head of an organisation representing directors across Nigerian banks. As of August 31, 2026, Wema Bank had a market capitalisation of N1.16 trillion.
4. Mrs. Amaka Onwughalu – Chairman Fidelity Bank Plc
For Amaka Onwughalu, the move to the chairmanship of Fidelity Bank followed more than three decades in Nigeria’s financial services industry.
Fidelity Bank appointed her chairman of its Board of Directors effective January 1, 2026, following the completion of Mustafa Chike-Obi’s tenure. She had joined Fidelity Bank’s board in December 2020 and had previously chaired key board committees.
Onwughalu’s banking career includes senior executive positions at Mainstreet Bank Limited and Skye Bank Plc.
She served as Group Managing Director of legacy Mainstreet Bank and Deputy Managing Director of Skye Bank, giving her experience across executive management and banking operations. Fidelity Bank had a market capitalisation of N1.26 trillion as of August 31, 2026
3. Mrs. Juliet Anammah – Chairman Nigerian Breweries Plc
Juliet Anammah’s route to the chairmanship of Nigerian Breweries cuts across consulting, consumer goods, technology and e-commerce.
She joined the board of Nigerian Breweries as an independent non-executive director in January 2022 and currently serves as chair. The company describes her as a professional with more than 30 years of experience spanning consulting, consumer goods, sales, marketing, e-commerce and sustainability.
Anammah is perhaps best known to many Nigerians for her time at Jumia Nigeria, where she served as chief executive. She joined the e-commerce company in 2015, after a career at Accenture, where she became a partner and led the consumer goods practice in Nigeria. At Jumia, she was involved in the company’s development from an online retailer into a broader digital marketplace, logistics and payments platform.
Her educational background combines pharmacy and business. She holds a pharmacy degree from the University of Nigeria, Nsukka, and an MBA in Finance from Enugu State University of Technology Business School.
Nigerian Breweries was valued at N2.32 trillion on August 31, 2026.
2. Dr. Sola David-Borha – Chairman Stanbic IBTC Holdings Plc
Long before taking the chair at Stanbic IBTC Holdings, Sola David-Borha had built a career across several layers of financial services, eventually rising to one of the most senior executive positions within Standard Bank Group.
David-Borha is the former Chief Executive of Standard Bank’s Africa Regions business, where she was responsible for operations across 19 countries in sub-Saharan Africa, excluding South Africa. Before that, she served as Chief Executive of Stanbic IBTC Holdings and Stanbic IBTC Bank, having held executive roles spanning corporate banking, corporate and investment banking and investment banking coverage for Africa.
Her academic background includes a BSc, MBA and PhD in Global Studies from SOAS University of London. She has also completed the Advanced Management Program at Harvard Business School and the Global CEO Program involving CEIBS, Wharton and IESE.
Her boardroom responsibilities extend beyond Stanbic IBTC. She chairs Nigerian Bottling Company and serves as a non-executive director on the boards of Standard Bank Group and Standard Bank of South Africa. She is also associated with the Nigerian Economic Summit Group.
Stanbic IBTC Holdings had a market capitalisation of N2.48 trillion as of August 31, 2026
1. Dr. Awele Elumelu – Chairman Transcorp Hotels Plc
Dr. Awele Vivien Elumelu became Chairperson of Transcorp Hotels Plc on January 1, 2026, bringing experience that cuts across healthcare, insurance, hospitality, corporate governance and philanthropy to the board of the listed hospitality company. Her appointment followed the retirement of Emmanuel N. Nnorom as chairman.
A medical doctor by training, Elumelu earned her MBBS from the University of Benin and subsequently completed executive programmes at institutions including Harvard Business School, IMD Switzerland and the London School of Economics. She also has clinical experience in Nigeria and the United Kingdom.
Beyond Transcorp Hotels, she chairs Avon Healthcare and Avon Medical Practice and is a founding director of Heirs Holdings.
Elumelu is also closely associated with the Tony Elumelu Foundation, where she serves as a trustee and co-founder. Through the foundation, she has been involved in entrepreneurship programmes supporting young Africans with training, mentorship and seed capital.
As of August 31, 2026, Transcorp Hotels had a market capitalisation of N2.72 trillion.
