Commercial banks are financial institutions that are licensed and regulated by a country’s central bank to accept deposits from the public and give out loans for the purpose of consumption and investments. Generally, commercial banks have a variety of roles which include; acceptance of deposits, provision of transaction accounts, cash management, private equity financing, issuance of bank cheques and drafts, and processing of payments, among other utility functions.
The licensed commercial banks in Nigeria and their respective managing directors are listed below:
Access Bank PLC
Managing Director: Mr. Herbert Wigwe
A native of Isiokpo, Rivers State, Mr. Herbert bagged a degree in Accounting from the University of Nigeria, Nsukka, and thereafter acquired an MA in Banking and Finance from University College of Bangor. Later on, he earned a Masters degree in Financial Economics from the University of London. He is an alumnus of Harvard Business School where he enrolled in an executive management programme.
Citibank Nigeria Limited
Managing Director: Mrs. Ireti Samuel-Ogbu
She has occupied several positions in Citigroup businesses in the United Kingdom, Nigeria, and South Africa for a span of over thirty years, before her ascent to the position of managing director of Citibank Nigeria Limited. She obtained her bachelor’s degree in Accounting and Finance from Middlesex University, United Kingdom, and later on acquired a Master’s of Business Administration from the University of Bradford, United Kingdom
Ecobank Nigeria Plc
Managing Director: Mr. Akinwutan Patrick
Mr. Akinwutan has cognate experience of over twenty years in the banking industry sector. He has previously served in various high rung positions where he applied his expertise to good use within Ecobank Nigeria Plc. He has a Master’s of Business Administration in Finance from Obafemi Awolowo University. He is a Fellow of the Institute of Chartered Accountants and an Associate of the Chartered Institute of Taxation. He is also an alumnus of the Havard Business School executive program.
Fidelity Bank Plc
Managing Director: Mrs. Nneka Onyeali-Ikpe
She has over thirty years of experience in her banking career. She has a Bachelor of Law from the University of Nigeria, Nsukka, and a Master of Law from Kings College, London. She obtained executive training at several outstanding institutions such as Harvard Business School, Wharton School University of Pennsylvania, INSEAD School of Business, Chicago Booth School of Business, and London Business School, among others.
First Bank Nigeria Limited
Managing Director: Mr. Adesola Kazeem Adeduntan
Preceding his appointment as managing director of First Bank, on January 1, 2016, Mr. Adeduntan has held top positions since he joined the bank in 2014. He has served in capacities as Executive Director and Chief Financial Officer of the bank. He is experienced in financial and risk management, treasury, performance management, strategy development and implementation, and information technology compliance. He obtained a Doctor of Veterinary Medicine from University of Ibadan, and a Master’s degree in Business Administration from Cranfield University Business School, United Kingdom.
First City Monument Bank (FCMB)
Managing Director: Mrs. Yemisi Edun
After joining FCMB in 2010, she has acted as Divisional Head of Internal Audit and Control and Chief Financial Officer of the bank before her climb to the managing director position. She obtained her Chemistry degree from the University of Ile-Ife, and a Master’s degree in International Accounting and Finance from the University of Liverpool, United Kingdom.
Globus Bank Limited
Managing Director: Mr. Elias Igbinakezua
With over twenty-five years of experience in the banking sector, Mr. Igbinakezua has handled top management positions in various banking institutions. He obtained his degree in Accounting from the University of Benin, and Masters degree in Corporate Finance from the University of Liverpool, United Kingdom. He is trained as a Chartered Accountant. He is an Alumnus of Harvard Business School, Boston; INSEAD; IMD; and Wharton Business School, where he obtained several professional development training.
Guaranty Trust Bank Plc (GTB)
Managing Director: Mrs. Miriam Olusanya
With twenty-three years of cognate banking experience, she has garnered expertise in transaction services, asset and liability management, investment banking, financial market, and investor relations. She obtained a Bachelor of Pharmacy from the University of Ibadan, and later on obtained Masters of Business Administration in Finance and Accounting from the University of Liverpool, United Kingdom. She assumed office as Managing Director on 14th July 2021.
Heritage Banking Company Limited
Managing Director: Mr. Ifiesimama Melvin Precious Sekibo
He obtained a Bachelor’s degree in Accounting from Rivers State University of Science and Technology and a Ph.D. in Credit Management from London Post Graduate Management College, United Kingdom. He also obtained executive training from Harvard Business School.
Managing Director: Mr. Olaniran Olayinka
He obtained his Bachelor’s degree in Economics and Master’s degree both from the University of Lagos. He has over twenty-five years of experience in banking with his expertise centering on Operations, Human Resource Management, Corporate Banking, Retail Banking, and Institutional Banking. Banking Operation, Credit Risk Management, and Business Process Re-engineering are executive courses He enrolled for professional development.
Managing Director: Mr. Innocent Ike
Boasting more than three decades of active commercial banking, he has attained several lofty heights in the industry. He obtained a Bachelor of Science in Accounting from University Lagos.
Stanbic IBTC Bank Limited
Managing Director: Dr. Damola Sogunle
He obtained a Bachelor of Science in Agricultural Science from the University of Ibadan and went on to acquire a doctorate degree in Land Resource Evaluation from the same university. With over twenty-five years of experience in Credit & Marketing, global markets, project finance, and risk management, Mr. Sogunle has occupied severely elevated heights in banking.
Sterling Bank Plc
Managing Director: Mr. Abubakar Suleiman
SunTrust Bank Limited
Managing Director: Mrs. Halima Buba
Titan Trust Bank Limited
Managing Director: Mr. Mudassir Amray
Union Bank of Nigeria
Managing Director: Mr. Emeka Okonkwo
United Bank for Africa Plc
Managing Director: Mr. Kennedy Uzoka
Unity Bank Plc
Managing Director: Mrs. Tomi Somefun
Wema Bank Plc
Managing Director: Mr. Ademola Adedisi
Managing Director: Mr. Ebenezer Onyeagwu