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Nigeria’s banking sector has long been a powerful engine that drives economic growth, a factor that finances businesses, a facilitator of trades, and an enabler of financial inclusion across the country and the entire continent at large.
In all these, there are some individuals who go beyond balance sheets and interest rates to attain wealth in the banking sectors.
Through smart decision-making, strong leadership, and a deep understanding of finance, these individuals have risen beyond being just bank executives to becoming some of the richest figures in the industry.
Their wealth did not come from salaries alone, but from building banks from the ground up, owning significant shares in listed financial institutions, expanding into other profitable businesses, and using their influence to support growth and innovation in areas like fintech and corporate finance.
These wealthiest individuals in the Nigerian banking sector are what we're discussing in this article.
Because, in a country like Nigeria, where banking is both a cornerstone of economic stability and a springboard to investment success, it's important to understand who the richest bankers are and how they built their wealth so that you can have a window into broader Nigeria’s economic narrative.
Top Richest Bankers in Nigeria
We've curated this list using the market valuations of their stakes in banks only, not outside investment. Here’s a list of some of the most prominent and wealthiest banking figures in Nigeria:
- Jim Ovia, Founder and Chairman of Zenith Bank: He founded Zenith Bank in 1990 and grew it into one of the most profitable and respected banks in Nigeria. Jim Ovia holds substantial equity in the bank. Based on share price valuations, his stake in Zenith Bank was valued around ₦169.8 billion ($220+ million). In addition to that, Jim Ovia's overall net worth is valued at nearly $900 million.
- Tony Elumelu, Chairman of United Bank for Africa (UBA) and Founder of Heirs Holdings: Tony Elumelu transformed UBA into a prominent pan-African bank and expanded his investment footprint through Heirs Holdings into energy, hospitality, and finance. His stake in UBA was valued at about ₦33.54 billion ($44 million). He is also a philanthropist influencing African business through the Tony Elumelu Foundation.
- Atedo Peterside, Founder of Stanbic IBTC Holdings: Peterside is the founder Stanbic IBTC, one of the most respected financial services groups in Nigeria. His holdings in Stanbic IBTC were reported around ₦10.45 billion (that's between$13million and $14 million). Stanbic IBTC is known as a financial institution that focuses on investment banking and wealth management.
- Segun Agbaje, former CEO of Guaranty Trust Holding Company (GTCO): Segun Agbaje led GTCO (the parent company of GTBank) as the Group Chief Executive Officer (GCEO) for approximately 3½ years. His stake in GTCO was reported at around ₦1.6 billion ($2 million).
- Ebenezer Onyeagwu, Former GMD of Zenith Bank: Ebenezer held an executive leadership sit at Zenith Bank, where he earned wealth through salary, bonuses, and shares. His investment in banks is not publicly known but his overall net worth is estimated around ₦130 billion ($88 million).
- Nneka Onyeali-Ikpe, Group MD of Fidelity Bank: Nneka Onyeali-Ikpe is one of the prominent female in the NIgeria's banking sector. She's currently serving as the Group MD of Fidelity Bank, receiving paid executive compensation and equity incentives. Hey overall wealth estimates place her around ₦95 billion ($64 million)..
- Adesola Adeduntan, CEO of First Bank of Nigeria: Adesola Adeduntan receives executive compensation and share incentives as CEO of one of Nigeria’s oldest and largest banks by total assets, gross earnings, and expansive branch network. His net worth is estimated around ₦90 billion ($60 million).
- Yemisi Edun, CEO of First City Monument Bank (FCMB): Overall net worth is estimated to ₦80 billion ($54 million).
- Kennedy Uzoka, Former CEO of UBA: He was a senior banking leadership with substantial compensation during his tenure at United Bank for Africa (UBA). His net worth is estimated to ₦75 billion ($51 million).
- Aigboje Aig-Imoukhuede, co-founder and former CEO of Access Bank: He was one of the architects behind Access Bank’s transformation from a small commercial bank into a tier-1 Nigerian banking giant. He remains the largest shareholder in Access Holdings, even after stepping down from executive roles. Notably, his exact net worth and amount of shares he owns aren't publicly disclosed.
Note: Herbert Wigwe, the former Group MD/CEO of Access Holdings, who died in a helicopter crash in the California desert, United States, was the second richest banker, with shares reported around ₦53.4 billion ($70 million). But for the fact that he has passed, we cannot include him to the richest bankers' list of 2026.
Bank Assets vs. Personal Wealth
If you follow up well on this list, you should have noticed that the wealth valuations do not correspond in a descending order. We made use of estimated personal net worth and bank shareholding value and executive compensation estimates to rank the list accordingly.
We rank these bankers based on the shares and wealth they built from banks, not from other sectors. However, others (starting from top 5) were ranked by quoted overall net worth.
This is why you might have noticed valuation change in top 5. It's also important to let you know that the richest banks by assets in Nigeria do not always correspond directly with individual bankers’ personal wealth, though institutional success often boosts executive equity and compensation.
Here's a more accurate framework that'll guide you better:
| Name | Category |
|---|---|
| Jim Ovia | Tier 1 – Bank Founder / Major Shareholder (Zenith Bank) |
| Tony Elumelu | Tier 1 – Bank Founder / Major Shareholder (UBA) |
| Atedo Peterside | Tier 1 – Bank Founder / Major Shareholder (Stanbic IBTC) |
| Aigboje Aig-Imoukhuede | Tier 1 – Co-founder & Major Shareholder (Access Bank) |
| Pascal Dozie | Tier 1 – Legacy Wealth (MTN Nigeria & Diamond Bank) |
| Segun Agbaje | Tier 2 – Career Banker / CEO |
| Ebenezer Onyeagwu | Tier 2 – Career Banker / CEO |
| Nneka Onyeali-Ikpe | Tier 2 – Career Banker / CEO |
| Adesola Adeduntan | Tier 2 – Career Banker / CEO |
| Kennedy Uzoka | Tier 2 – Career Banker / CEO |
In essence, even if someone like Ebenezer Onyeagwu earned very well, maybe from other investments aside from banks, it does not automatically place him above founders and executives who hold massive equity in banking sector.
In conclusion, Nigeria’s richest bankers are best understood not merely by job titles or annual salaries, but by ownership, long-term equity, and the ability to build institutions that outlive individual careers.
