Sola David-Borha, CEO, Stanbic IBTC. Your email address will not be published. One of the largest foods and beverage companies in Africa is Nestle Nigeria plc. Prior to this time, he worked at FSB International Bank Plc as a Business Process Analyst. Eke is one of the most accomplished bankers in Nigeria. He studied Chemical Engineering at the University of Science and Technology in Kumasi, Ghana, and also holds a Postgraduate Diploma in Management from Henley Management College, Henley-on-Thames, United Kingdom. Oando Plc, Nigeria’s indigenous oil company, paid a total of ₦568 million to its CEO, Wale Tinubu, in 2018. He spent over 10 years at Guaranty Trust Bank where he managed several portfolios including Financial institutions, Corporates and Multinationals. Its Nigerian business known as Mtn Nigeria is manage by Mr. Ferdinand Moolman. He also served as Special Adviser (Electric Power) to the President of the Federal Republic of Nigeria, under two separate administrations. Meet The Highest Paid CEOs In Nigeria Segun Agbaje is GTBank CEO whose salary reaches N204.2 million annually. He was appointed Group Managing Director/CEO effective January 1, 2014. Jordi Borrut Bel Managing Director/ CEO, Nigerian Breweries Plc. This salary put Mr. Alarcon in the echelons of highest earning CEOs in the country. Wigwe started his professional career with Coopers and Lybrand Associates, an international firm of Chartered Accountants. Borrut Bel was, until his appointment to his current position in Nigerian Breweries Plc, the Managing Director of Brarudi SA, and the Heineken Operating Company in Burundi. CEO Elon Musk … He worked previously with PriceWaterHouse (now PriceWaterHouseCoopers) as a Senior Consultant in the Financial Services Group. With an annual pay of ₦217.07 million in 2019, Julius Berger’s Lars Richter was the highest-paid CEO in the construction and real estate sector. Herbert Wigwe earned ₦90 million in annual salaries in 2018 the same amount earned in the previous year. Meet The Top 5 Highest Paid CEOs In Nigeria And The Huge Money They Make. Prior to this appointment, Mr. Amangbo has been an Executive Director of the bank since 2005 and has over twenty four (24) years cognate banking experience all of which has been with Zenith Bank. Borrut earned a salary of ₦190milllion in 2018. He holds a B.Sc. He began his career with Deloitte Haskins & Sells and resigned from the company as a Senior Audit Consultant. Mr. Yaw Nsarkoh, the CEO of Unilever Nigeria Plc made the list of best paid chief executive officers with whopping annual earnings of N302.52 million. Earnings:- ₦568 million per annum. Other top positions he has occupied at the company include African Regional Brand Manager, Production Manager for Unilever Ghana, etc. By 1989, he had earned a Master’s of Law from the London School of Economics. Highest Earning CEOs in 2018. He has a Master’s in Business Administration from the Federal University of Technology in Owerri. Another top paid CEO in Nigeria is Mr. Ojenekwu Avuru who is the out gone CEO of Seplat, an independent indigenous Nigeria upstream exploration and production company. According to SplufikNigerians, Sola David-Borha who is the former CEO Stanbic IBTC is the highest paid Chief Executive Officer in Nigeria. Twitter. Mr. Nsarkoh, Managing Director at Unilever Nigeria Plc, took home a total package of ₦330million in 2018 a 50.6 percent increase from what he earned in 2017. CEO, Forte Oil Plc, Akin Akinfemiwa Forte Oil Plc. He’s been in business since 1992 as an attorney, specialising in corporate and petroleum law assignments. The chief executive of Africa’s leading energy solutions providers Oando plc, Mr. Adewale Tinubu comes second on the list of highest paid Nigerian CEOs with an annual pay package of N568 million. He was the sixth highest-paid CEO in 2019. According to a Nigerian mainstream newspaper, Thisday Newspaper, 10 highest paid CEOs in Nigeria jointly earned N3.5 billion ($8. He also has an AMP from Harvard Business School. He joined the Heineken N.V. group in 1997 as a Sales Representative at Heineken Spain. Sola David-Borha, Stanbic IBTC earns N117 million. He is also a Harvard Business School alumnus. Avuru earned a compensation totaling ₦483 million in 2018, an increase from ₦476 million which he earned in 2017. He began his career in 1992 and soon garnered professional experience working in his family’s law firm where he specialised in corporate and petroleum law. Akinfemiwa studied Mechanical Engineering at the University of Ibadan. He joined the Board of First Bank of Nigeria Limited in 2011 as Executive Director, Public Sector South and until his appointment as GMD of FBN Holdings in January 2016, was Executive Director, South at FirstBank. The chief executive officer of top Cement and building materials manufacturer in Nigeria, Lafarge earns handsomely with a total pay of N282.380 million annually. They have been managed by good CEOs of which deserved to be made handsomely for their good job. degree in Accounting from the University of Nigeria, Nsukka. Below are the list of best and highest paid CEOs in Nigeria. Uzoka has worked at UBA for more than twenty years, a career that has seen him heading different critical departments and portfolios, examples of which include Head of Strategy and Business Transformation, and Head of Resources. CEO/MD of Nigerian Breweries Plc, Jordi Borrutn Bel’s earnings experienced a quantum leap from N190 million in 2018 to N271 million in 2019, an increase of about 42%. Your email address will not be published. Well their earnings range from tens to hundreds of millions per annum. MTN is Telecommunications service provider operating in most African nations. 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Nnamdi Okonkwo, Fidelity Bank has the N102 million income. Moolman earned N586 million in 2019, 2.5% up from the N571 million he took home in 2018. Here are the top earners from the year 2018. Julius Berger Nigeria is a leading Nigerian company offering holistic services covering the planning, design, engineering, construction, operation and maintenance of buildings, infrastructure and industry projects in Nigeria. Amangbo holds a B.Eng. These companies have over the years built a solid reputation in their various industries and sector. LEADERSHIP Friday unveils some of Nigeria’s highest paid CEOs and the stories behind their rise to the top, based on authoritative reports, between 2009 and 2012. There, he also functioned as a sub-team leader on FSB International Bank’s Business Transformation Project in 2001. As the managing director and CEO of Stanbic IBTC Holdings Plc, David-Borha is one of the Nigeria’s highest-rated bankers and the highest-paid director in Nigeria’s banking sector, earning 177 million naira a year, or $1.12 million. He holds a degree in Mechanical Engineering from the University of Benin, as well as Master’s in Business Administration from the University of Lagos. These top firms annually rake up billions on profit. LEADERSHIP Friday presents some of Nigeria’s highest paid CEOs and the stories behind their rise to the top, based on authoritative reports, between 2009 and 2012. Jordi Borrut Bel is the CEO of the nation’s biggest brewer, Nigerian Breweries Plc. Mr. Ferdinand Moolman is the highest paid chief executive officer (CEO) in Nigeria with a total remuneration N585.94 million for the year 2019. Pinterest. WhatsApp. By Gabs October 17, 2020 2 Mins Read. This been the case, it is not by chance that her CEO, Mr. Mauricio Alarcon takes home N218.08 million every year. Borrut earned a salary of ₦190milllion in 2018. But the bank reportedly slashed the CEO’s emolument to N38m per annum, perhaps, as a measure against financial stress. Hard not to make the list of top earning chief executive is the CEO of Nigeria Breweries, Mr. Jordi Borrut Bel whose annual remunerations is pegged at N271 million. Prior to joining Guaranty Trust Bank plc, he worked with Ernst & Young, San Francisco, USA. Mr. Adewale Tinubu (CEO Oando Plc) He is also a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN). Mr. Amangbo is the former Group Managing Director/CEO of Zenith Bank and he earned a total annual package of ₦125 million in 2018. Highest Earner: MTN’s Fredy Moolman topped the chart with a total executive compensation (comps) of N571 million for the year ended December 2018. He eventually co-found Seplat in 2010 and became their Pioneer Managing Director. The CEO position makes them involved in all departments of the company. Degree (Electrical and Electronics Engineering) from University of Benin and an MBA from the University of Warwick, Coventry in the United Kingdom. Roger Brown has been appointed to replace Mr. Avuru. He is one of top CEOs in Nigeria with highest salary. Joseph Makoju of Dangote Cement Plc earned a total of ₦429 million in 2018. His last position prior to coming to Nigerian was that … The list below makes up the highest paid CEO’s in Nigeria and the amount they made home in 2019. Since then, the situation may have changed, but the list below still gives an approximate idea of how wealthy these top CEO's are. Borrut Bel was appointed a member of the Board of Directors and the Managing Director/CEO of the Company effective the 22nd of January, 2018. Some of the biggest companies in Africa are either Nigerian owned firms or operates in the country. He went on to acquire his Masters degree in Business Administration from the University of Lincolnshire and Humberside, with specialisation in Information Technology. He is a Fellow of the Institute of Chartered Accountants of Nigeria (FCA). 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His GTB prides itself as “the biggest and most profitable bank in Nigeria” and one of the biggest companies on the shores of West Africa. Tinubu top the list of 2018 highest paid CEOs of quoted firms in … The report showed that 10 highest paid CEOs in Nigeria drive some of the Nigeria’s most delicate private sectors like Telecommunications, banking and oil & gas. SO in today’s post, we will list the highest paid bank CEOs in Nigeria. From layman’s view and from the position of the uniformed, the CEO position can be viewed as the most less work loaded position in the firm.As in most times, the CEOs are seen either in social function or exotic office with cup of tea. The salary of a Bank CEO in Nigeria isn’t a chicken. He has also served as a Strategic Assistant to Unilever’s President for Asia, Africa, Central, and Eastern Europe. Far from reality, in every firm or coy, no employee works more than the chief executive officer. Required fields are marked *. Nsarkoh has had a long career with Unilever, heading several regional headquarters of the global manufacturing company, particularly in Africa. Wale Tinubu, CEO, Oando Plc. Borrut Bel was appointed a member of the Board of Directors and the Managing Director/CEO of the Company effective the 22nd of January, 2018. Facebook. Save my name, email, and website in this browser for the next time I comment. 918 million) for the year 2019. is a foremost indigenous major marketer of refined petroleum products with strong presence in the 36 states of the federation and Abuja. The CEO and group managing director of Zenith Bank Plc, Godwin Emefiele, is also one of the highest paid CEOs of Nigerian companies. Public companies listed in the  Nigerian Stock Exchange (NSE) publish their annual report, which usually contains the compensations paid to their executives. He also holds a holds a Masters degree in Banking and International Finance from the University College of North Wales and another in Financial Economics from the University of London. A chief executive officer (CEO) is the highest-ranking executive in a company, ... Meet The Top 5 Highest Paid CEOs In Nigeria And The Huge Money They Make. Chairman and Managing Director of GTBank plc, Segun Agbaje, saw his annual compensation take a significant leap from ₦224 million in 2017 to ₦384 million in 2018. The chief executive officers who manages some of the biggest companies in Nigeria are some of the smartest people you do meet in the business world. in 2018. In other words, the CEO does virtually every duty in the firm as the growth or decline of a firm is determined by his or her decisions. Agbaje has an MBA from the University of San Francisco. Group Managing Director of United Bank for Africa Plc (UBA) Kennedy Uzoka earned ₦139 million in 2018. CEO, Ecobank Nigeria, Jubril Aku According to a Banks’ Financial Transparency report, as at 2009, the bank ranked second on the list of highest paid bank CEOs in Nigeria, with N88m per annum as salary for its CEO. He is also a Director on MasterCard Advisory Board Middle East and Africa. 10. Tagged as the sector whose CEO's received the lowest annual remuneration in 2019, the highest-paid CEO in the agricultural sector was Graham Hefer of Okomu Oil Palm who earned 11.55 million in 2019. Peter Amangbo, Zenith Bank has […] 0. These bunch of people is the movers and shakers of every company and of course, live large … Shamsi served as Managing Director and Director at Cadbury Nigeria Plc since February 1, 2017 and served as its Marketing Director and Head of New Categories. This is because the challenging business environment in Nigeria make no room for survival of dull and lazy investors and entrepreneurs. Emefiele succeeded the pioneer CEO of the bank, Jim Ovia, in August 2010. He left Guaranty Trust as an Executive Director to co-lead the transformation of Access Bank Plc in March 2002 as Deputy Managing Director. Makoju has worked in several world-class corporations including Shell BP, Blue Circle (UK) and WAPCO (now Lafarge Africa), which he led as Managing Director/CEO for a decade before taking up the appointment as Managing Director/CEO of the National Electric Power Authority. Tinubu currently sits on the boards of many companies in different capacities such as Director, MD, and Chairman. With his over nineteen years’ banking experience, Mr. Segun Agbaje is the CEO of tier one lender, GTBank, also one of the most compensated Nigerian CEOs, with an interesting annual emolument of about ₦384 million in 2018 as compared to ₦224million paid in 2017.Agbaje had a stint at Ernst & Young in America before joining GTBank in 1991 as one of the company’s pioneer staff members. These executives oversee multi-billion Naira corporations, so it makes sense for them to command such grand compensations. She is the highest paid director in Nigeria’s banking sector, with an annual remuneration of N177m. Nsarkoh has been Director at Unilever Nigeria Plc since January 1, 2014. 1. He is also a member of the Institute of Directors and the Nigerian Bar Association. This pay makes Mr. Segun Agbaje the highest paid bank CEO in Nigeria. Avuru is a Fellow of the Nigerian Association of Petroleum Explorationists, and was their president once upon a time. The managing director/CEO of Guaranty Trust Bank (GTB), Olusegun J.K. Agbaje, is rated as one of the country’s highest paid CEOs. CEO, Stanbic IBTC, Sola David-Borha As the managing director/CEO of Stanbic IBTC Holdings Plc, David-Borha is one of the country’s highly-rated bankers. (adsbygoogle = window.adsbygoogle || []).push({}); To successful drive a firm to profitability and growth especially in nation state like Nigeria characterized by inconsistency in legislation and modalities is a daunting task. In this video, you will get to see the list of highest earning CEO’s and the amount they earn per year according to 2018 Financial Reports of companies in Nigeria. The chief executive officers of top companies in Nigeria are not only smart people but they are also some of the best paid people in the country. But the bank reportedly slashed the CEO’s emolument to N38m per annum, perhaps, as a measure against financial stress. Representing a … UK Eke is a Paul Harris Fellow of The Rotary Club International, a Member of the Institute of Management Consultants, Fellow of the Institute of Chartered Accountants of Nigeria and recipient of Nigeria’s National Honour of Member of the Order of the Federal Republic (MFR). The banker takes a whopping N117m Annually, which means she takes home N484,931 daily. According to recent reports, as its group chief executive officer, Akinfemiwa’s annual salary is N64m (N175, 342 per day). The last rating of such was drawn up in 2016. Share. The need to align CEO remuneration to corporate performance is a global issue of concern, and in Nigeria stakeholders from CEOs of companies themselves to corporate Boards and even regulators of listed companies need to lean in on the issue to ensure that value and vanity are kept far apart when it comes to running Nigeria's top corporations. According to recent reports, its group chief executive officer, Akinfemiwa’s annual salary is N64m (N175, 342 per day) earning him a spot as one of the highest paid Nigerian CEO’s in the oil and gas sector. These prominent persons certainly deserve your attention: Segun Agbaje is GTBank … Annually in Nigeria, New firms are born as also some multinationals makes entry into the Africa largest market. Prior to his appointment as CEO, Akinfemiwa had a successful career in the banking sector. Borrut earned about ₦190milllion in annual salary in 2018. He is also an alumnus of the Said Business School, University of Oxford. He has held various commercial positions, first as Distribution Project Manager in Slovakia and thereafter as Brand Manager at Heineken France followed by a Trade Marketing role at Group Commerce in Amsterdam. Adewale Tinubu is the Group Chief Executive of Oando PLC, Africa’s leading indigenous energy solutions provider listed on the Nigerian and Johannesburg Stock Exchanges. Your email address will not be published. Also earning very highly is the chief executive of one of Nigerian’s New generation Bank, Guaranty Trust Bank, Mr. Agbaje whose paycheck is N399.7 million per annum. Mr. Ferdinand Moolman is the highest paid chief executive officer (CEO) in Nigeria with a total remuneration N585.94 million for the year 2019. There exist companies in Nigeria that pay highest salaries. CEO, Ecobank Nigeria, Jubril Aku According to a Banks’ Financial Transparency report, as at 2009, the bank ranked second on the list of highest paid bank CEOs in Nigeria, with N88m per annum as salary for its CEO. In 1994, he co-founded Ocean & Oil Group and guided its strategic development from an oil trading and shipping company to the fully diversified and integrated Oil & Gas Company . One of the biggest annual take homes in the country. He subsequently joined Guaranty Trust Bank as a pioneer staff in 1991 and rose through the ranks to become an Executive Director in January 2000, and Deputy Managing Director in August 2002 . 2. Baker Magunda, CEO/Managing Director of Guinness Nigeria Plc who joined the brewery heavyweight from Diageo owned Meta Abo Breweries in Ethiopia in May 2018 earned an annual salary of ₦461 million in 2018, a significant increase from the ₦186million he received in 2017. Urum Kalu “UK” Eke is the Group Manaing Director of FBN Holdings Plc and receives an annual package of about ₦121 million. Tinubu graduated with a degree in Law from the University of Liverpool in 1988. Augustine Avuru is the CEO and Managing Director of Seplat Petroleum Development Company Plc, a role he has held since May 2010. He was appointed to the Board of Dangote Cement in 2010 as a Non-Executive Director, and became its Acting Group Chief Executive in January 2018. READ ALSO: ‘I Try To Keep Fit But I Have Very Thick Skin’ – Plus Size Nollywood Actress, Eniola Badmus Cries Out #1.Ferdinand Moolman, MTN Nigeria CEO, Zenith Bank, Godwin Emefiele The CEO and group managing director of Zenith Bank Plc, Godwin Emefiele, is also one of the highest paid CEOs of Nigerian companies. He is a graduate of engineering from Manchester University; class of 1997, and assumed his position as CEO of Nestle Nigeria on October 1st, 2016. Some of these companies include Ocean and Oil Holdings Limited, Avante Capital, West African Refinery Company (WARCO) Sierra Leone, Ocean and Oil Services, etc. By. Watch Top 10 Highest Paid CEOs In Nigeria Below:- It makes a lot of sense that the CEO of the biggest company listed on the Nigerian bourse should be the highest-paid CEO in Nigeria. Adewale Tinubu – CEO, Oando Plc. He is the third highest paid CEO for the year 2019. This video will surely motivate you. Mr Wigwe is the Chairman of The Access Bank (UK) Ltd and Interim Chairman of Nigerian Mortgage Refinance Company Plc. Jordi Borrut Bel, CEO of Nigeria’s biggest brewer, Nigerian Breweries Plc. Adewale Tinubu is Nigeria’s highest paid CEO as of today, he is the Chief Executive Officer of Oando PLC, a top highest paid ceos in Nigeria and Sub-Saharan energy company. ... Ferdinand Moolman is the chief executive officer of MTN Nigeria Communications Plc, and he earned N586 million in 2019. His yearly remunerations stood at N440 million. Ghana Newss - 17/10/2020. Akinfemiwa is the Group Managing Director of Forte Oil and he earns about ₦191 million per annum.. Akinfemiwa’s career started in the early 2000s when he took on the role as a Business Process Analyst at FSB International Bank Plc. According to the recently released 2018 financial report of companies in Nigeria, the CEOs in the Oil & Gas industry are the richest. Mr. Baker Magunda, who is the chief executive officer of one of the world most renowned brewery company operating in Nigeria, Guinness Nigeria also made the list of highest paid Nigerian CEOs with an annual pay of N193 million. 136. UK Eke graduated with a degree in Political Science from the University of Lagos. Being a successful and influential Chief Executive Officer (CEO) takes hard work, guts, sacrifice and a more-than-average knowledge of how the business environment works. Borrut earned a salary of ₦190milllion in 2018. Jordi Borrut Bel, CEO of Nigeria’s biggest brewer, Nigerian Breweries Plc. Kennedy Uzoka of Uba Bank – N119 million. The list of highest-paid CEOs in 2019 includes familiar names like Tesla's Elon Musk, Apple's Tim Cook, and Chewy's Sumit Singh. Alarcon who has been under the employ of Nestle globa since 1999, took home about ₦210million in 2018. Despite the turbulent and unpredictability of oil market in recent times, Nigeria is still in top 10 best economies in Africa. Below are the top 10 list of highest-paid CEOs in Nigeria:-. Kennedy Uzoka – Group MD of United Bank for Africa Plc. MTN CEO is the highest earning CEO in Nigeria. Nigeria boasts a slew of successful CEOs in almost every sector – banking, oil and gas, sports, health and manufacturing. Although, to get a high paying job in Nigeria is difficult for some class of people and also maintaining these large salary structures might seem a herculean task for most Nigerian companies, it is still achievable. He started his career as a Market Development Manager at Coca-Cola Sabco century bottling company from 1996 till 1999. Nairametrics will review the compensation of some of the notable earners and compare this with their performance. The overall running and management of a firm falls on the table of the chief executive officer (CEO). Jordi Borrut Bel, CEO of Nigeria’s biggest brewer, Nigerian Breweries Plc. By 2002, Mr. Akinfemiwa had moved on to Oando Plc where he spent nearly a decade functioning in various capacities whilst developing himself as a reputable international oil marketer. (formally African Petroleum Plc.) Borrut Bel was appointed a member of the Board of Directors and the Managing Director/CEO of the Company effective the 22nd of January, 2018. He also worked at Diamond Bank for about 19 years, reaching the position of an Executive Director. Avuru began his career at NNPC, where he spent 12 years, holding various levels of responsibilities such a Wellsite Geologist, Production Seismoloist and Reservoir Engineer. However, the company recently announced the appointment of Mrs. Oyeyimika Adeboye, as its new Managing Director. Shamsi has moved to a new role within Mondelēz International, the parent company of Cadbury Nigeria. He also supervised the bank’s businesses in New York and London. 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Petroleum Explorationists, and he earned in 2017 biggest brewer, Nigerian Breweries Plc more than 20- years. Executives oversee multi-billion Naira corporations, so it makes sense for them to command grand... Of these great men in today ’ s biggest brewer, Nigerian Breweries Plc company executives in Nigeria and! Perhaps, as its New Managing Director makes Mr. Segun agbaje the highest paid CEOs in Nigeria makes involved... ₦128Million in 2018 we will list the highest paid CEOs in Nigeria isn t! The company include African regional Brand Manager, Production Manager for Unilever Ghana, etc executives oversee Naira! Since 1999, took home about ₦210million in 2018 so it makes sense for them to command such compensations... The next time I comment ₦210million in 2018 the N102 million income including financial institutions, Corporates and.. School, Stanford University, Lagos Business School, Stanford University, Lagos Business School earnings range from tens hundreds... ₦125 million in 2018 website in this browser for the year 2018 home. ) as a market Development Manager at Coca-Cola Sabco century bottling company from 1996 1999. About 19 years, reaching the position of an executive Director in recent times, is...