Leadership has unveiled some of Nigeria's highest paid CEOs and the stories
behind their rise to the top, based on authoritative reports, between
2009 and 2012. Read below
Culled from
Leadership
Being a successful and influential chief executive officer takes hard
work, guts, sacrifice and a more-than-average knowledge of how the
business environment works. Many who wish to be successful and
influential wonder how others have achieved great things, thinking such
feats are impossible in their bid to toe same path.
Nigeria boasts a slew of successful CEOs in almost every sector –
banking, oil and gas, sports, health and manufacturing. LEADERSHIP
Friday unveils some of them. Find the report after the cut...
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. She is the
highest paid director in Nigeria’s banking sector, with an annual
remuneration of N177m. When broken down, this becomes N484, 931 daily,
including weekends when may have no reason to go to work.
David-Borha has patiently risen through the ranks to get to where she
is today. She was, at different times, responsible for overseeing the
corporate finance and corporate banking, projects and structure finance,
as well as asset management and private banking departments. At a time,
she bore the burden of supervising treasury and finance services
department.
David-Borha also headed the correspondent banking relationships’
department at Stanbic IBTC and served as a member of the executive
committee. She was appointed to the bank’s board in 1994 and has held
other positions, including a spell as director of Stanbic IBTC Bank Plc,
Stanbic Nominees Nigeria Limited and Stanbic IBTC Stockbrokers Limited.
She was also appointed a member of the board of Financial Institutions
Training Centre (FITC). She did not miss serving as a member of the
bank’s board credit, board nominations and risk management committees.
Having passed through these stages before rising to the pinnacle,
David- Borha can be said to have, indeed, paid her dues and can be said
to have exhibited a great degree of competence, experience, long career
plan and hard work to get to her present position.
CEO, Mobil Oil Nigeria Limited, Tunji Oyebanji
Mobil Oil Nigeria (MON) is one of Nigeria’s major petroleum products
marketing companies. As its chief executive officer, Oyebanji is on an
annual remuneration of N85m. When broken down, this amounts to a daily
pay of about N231, 956.
As chairman/CEO/managing director of MON, there is no doubt that
Oyebanji’s hard-work, commitment and dedication has been largely
responsible for the turn-around which the company’s fortune has
experienced, making it stand tall among other competing oil corporates.
The company now operates more than 200 retail outlets spread across
the 36 states of Nigeria and the Fedeeral Capital Territory; it owns
three plants (in Apapa, Lagos State) where lubricants, petroleum jelly
and insecticides are manufactured.
As at 2011, MON had an annual turn-over of N63.1bn, from N58.34bn in
2010. With a combined dividend per share of N5 and bonus issue of one
for five shares, MON has, arguably, the industry’s highest priced stock.
CEO, GTBank, Olusegun Agbaje
The managing director/CEO of Guaranty Trust Bank (GTB), Olusegun J.K.
Agbaje, is rated as one of the country’s highest paid CEOs. 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. Agbaje
co-founded the GTB in 1990 with Tayo Aderinokun who died in 2011.His
annual take-home is a whopping N77m.
Before assuming the current position, Agbaje was the deputy managing
director of the bank between August 2002 and April 20, 2011. He has also
served as the divisional head of the bank’s institutional banking
division and also as acting MD of GTB (Ghana) Limited, from April 20,
2011.
Interestingly, Agbaje has served in a number of capacities before
becoming the man at the helm of the bank’s affairs. He was, at different
points in his career; member, Assets and Liability Management
Committee; member, Criticised Assets Committee; member, Board,
Information Technology Strategy Committee and member, Board, Risk
Management Committee.
On his way to the top, Agbaje also served as member, board, Human
Resources and Nomination Committee; member, Management Risk Committee
and member, Management Credit Committee. Experience garnered from
serving in these committees helped, in no small measure, in preparing
him for the current position of CEO.
CEO, Oando Plc, Jubril Adewale Tinubu
According to recent financial reports, the second highest paid CEO in
the oil sector is Wale Tinubu, with a total annual remuneration of
N69m, an equivalent of N189, 041 per day.
Tinubu is the group chief executive of the company which has been
hailed as Africa’s leading indigenous energy solutions provider listed
on the stock exchange in Nigeria and Johannesburg. Tinubu also has a
record of long-time service, having served on the board of various
blue-chip companies as chairman and director.
His outstanding performance has won him several awards, among which
are; Africa’s Business Leader of the Year awarded by the African
Business Magazine and the Commonwealth Council on the basis of his
contributions to the development of the African oil and gas sector in
2010. He won the same accolade in 2011, courtesy of the African
Investor.
These accolades are proof that Tinubu’s ascension to the pinnacle of
the administrative ladder in Oando was no fluke but a function of his
doggedness and hard-work. Tinubu also holds key positions in a number of
major financial institutions.
CEO, Forte Oil Plc, Akin Akinfemiwa
Forte Oil Plc. (formally African Petroleum Plc.) is a foremost
indigenous major marketer of refined petroleum products with strong
presence in the 36 states of the federation and Abuja. According to
recent reports, as its group chief executive officer, Akinfemiwa’s
annual salary is N64m (N175, 342 per day).
Prior to this appointment, Akinfemiwa had a successful career in the
banking sector. He served as the CEO of Sky Bank Plc, until July 31,
2010. His expertise covers a range of areas, including; strategic
planning and management, corporate banking, project financing,
leadership and advisory services. He has also served as managing
director/CEO of Prudent Bank.
Akinfemiwa has now brought his hard-work to bear on the fortunes of
Forte Oil Plc. The public liability company which is quoted on the
Nigerian Stock Exchange (NSE) has over 500 dealer-assisted and
dealer-developed retail outlets spread across the country.
CEO, UBA, Phillips Oduoza
Phillips Oduoza is the chief executive officer, group managing
director, and an executive director of the United Bank for Africa (UBA)
Plc. He is one of the highest paid CEOs in the banking sector, with an
annual remuneration of N57m (as at 2010). It suffices to say that Oduoza
is one of the few who can beat their chest in fulfilment of a banking
career.
He became the CEO and managing director of the bank in August 2010
and has served as its deputy managing director (South) from the 2005.
Besides having the honour of having gained monumental experience from
working across different banks for more than 20 years, he has served
also as the bank’s executive director of Retail Financial Services.
UBA’s fortune, no doubt, has snow-balled, with results from his
professional services and investment of talents as proof.
His services in the bank cut across membership of the board risk
committee and financial and general purpose committee. Before assuming
the position of CEO, he served as deputy managing director of the bank.
Among many other designations, he was an executive director of the
defunct Standard Trust Bank (STB) which was acquired by the UBA in the
thick of the consolidation exercise introduced by the then-governor of
the Central Bank of Nigeria (CBN), Professor Charles Chukwuma Soludo.
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. But the bank reportedly
slashed the CEO’s emolument to N38m per annum, perhaps, as a measure
against financial stress.
Jubril Aku is the chief executive officer (CEO) of Ecobank Nigeria
Plc. He has been its managing director since March 2010. Aku served as
acting treasurer, Citibank, Tanzania and as country treasurer, Citibank
Nigeria Plc.
He began his banking career in 1979 with the United Bank for Africa
(UBA) Plc., where he worked for three years from September, 1986 to
December, 1989. He served at the Continental Merchant Bank Plc., where
he worked as a credit and investment analyst.
Aku has served in various capacities with different financial institutions and is, by all standards, an accomplished banker.
Au’s academic brilliance has earned him several accolades, among
which are the First Bank of Nigeria Plc Prize for the Best Graduating
Student in Banking and Finance at the Ahmadu Bello University, from
where he graduated with honours in 1986.
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.
Emefiele succeeded the pioneer CEO of the bank, Jim Ovia, in August
2010. By his current position in the bank’s hierarchy and the number of
branches it can bboast of within the country and in West Africa, it is
evident that Emefiele is fulfilled.
Prior to his choice of banking as a career in Zenith Bank, Emefiele
was a lecturer in University of Nigeria and University of Port Harcourt
where he taught Finance, Bank Management and Insurance. However, he
later left the academia for banking. He joined Zenith as a pioneer staff
over 22 years ago and has proved his worth in advancing the bank as
well as increasing its fortunes and profitability. In 2001, he was
appointed deputy managing director before succeeding Ovia three years
ago.
He has also served as member of Executive Committee, member of Board
Credit Committee, member of Staff Matters, Finance and General Purpose
Committee and member of Board Risk Management Committee. Emefiele’s
services and impact were also felt in Management Global Credit
Committee, Risk Management committee, Assets and Liabilities Committee
and Information Technology Steering Committee where he served as member.
The advancements made by the bank are not without the inputs of
Emefiele who served as executive director in charge of corporate
banking. He as well served in the treasury, financial control and
strategic planning department. He has been in the management team of
Zenith Bank from its inception.
kanye west is dangerously close to a tom cruise couch-jumping moment. The "Bound 2" rapper just can't seem to stop talking about how much he loves and admires fiancee kim kardashian with whom he has a 5-month-old daughter, North. During an interview with Hot 97 radio host Angie Martinez
on Monday, Nov. 25, West compared their love to an epic romance and
said he thought his future wife was maybe "the most beautiful woman" in
the history of humankind.
Miley cyrus turned 21 years old this weekend ... and she celebrated with booze,
celebrities, strippers and a guest appearance from a Dr. Seuss character
... and TMZ has the footage. 
We're told Miley rented out the entire theater for the special birthday/AMAs afterparty. 
source:yahoo
source: yahoo
source: instagram/usmagazine/yahoo
