He started his career as a Market Development Manager at Coca-Cola Sabco century bottling company from 1996 till 1999. Twitter. Kennedy Uzoka of Uba Bank – N119 million. The managing director/CEO of Guaranty Trust Bank (GTB), Olusegun J.K. Agbaje, is rated as one of the country’s highest paid CEOs. 0. Urum Kalu “UK” Eke is the Group Manaing Director of FBN Holdings Plc and receives an annual package of about ₦121 million. 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. Save my name, email, and website in this browser for the next time I comment. He also served as Special Adviser (Electric Power) to the President of the Federal Republic of Nigeria, under two separate administrations. Required fields are marked *. One of the largest foods and beverage companies in Africa is Nestle Nigeria plc. 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. Nnamdi Okonkwo, Fidelity Bank has the N102 million income. However, the company recently announced the appointment of Mrs. Oyeyimika Adeboye, as its new Managing Director. Other top positions he has occupied at the company include African Regional Brand Manager, Production Manager for Unilever Ghana, etc. 2. Mr. Lars Ritcher who is the CEO of the engineering company is on the list of best paid CEOs in Nigeria. He is also a member of the Institute of Directors and the Nigerian Bar Association. There are several banks in Nigeria and in all some have been standing the test of time for more than 20- 50 years. 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. 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. She is the highest paid director in Nigeria’s banking sector, with an annual remuneration of N177m. 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. 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. He is the third highest paid CEO for the year 2019. Nairametrics will review the compensation of some of the notable earners and compare this with their performance. 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. Top on the list is Oando Plc Group Chief Executive, Wale Tinubu who earned a 67 percent increase in his executive compensation compared to the previous year, bringing his income to a total of ₦568 million. Mr Wigwe is the Chairman of The Access Bank (UK) Ltd and Interim Chairman of Nigerian Mortgage Refinance Company Plc. 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. He also worked at Diamond Bank for about 19 years, reaching the position of an Executive Director. Share. Prior […] The list below makes up the highest paid CEO’s in Nigeria and the amount they made home in 2019. 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. He was appointed Group Managing Director/CEO effective January 1, 2014. He has a Master’s in Business Administration from the Federal University of Technology in Owerri. 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. Group Managing Director of United Bank for Africa Plc (UBA) Kennedy Uzoka earned ₦139 million in 2018. Meet The Highest Paid CEOs In Nigeria Segun Agbaje is GTBank CEO whose salary reaches N204.2 million annually. degree in Accounting from the University of Nigeria, Nsukka. The banker takes a whopping N117m Annually, which means she takes home N484,931 daily. 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. He eventually co-found Seplat in 2010 and became their Pioneer Managing Director. Emefiele succeeded the pioneer CEO of the bank, Jim Ovia, in August 2010. 10. 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. Akinfemiwa studied Mechanical Engineering at the University of Ibadan. (formally African Petroleum Plc.) 1. Below are the top 10 list of highest-paid CEOs in Nigeria:-. Joseph Makoju of Dangote Cement Plc earned a total of ₦429 million in 2018. 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. By Gabs October 17, 2020 2 Mins Read. Facebook. Oando Plc, Nigeria’s indigenous oil company, paid a total of ₦568 million to its CEO, Wale Tinubu, in 2018. The overall running and management of a firm falls on the table of the chief executive officer (CEO). Adewale Tinubu – CEO, Oando Plc. 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 He joined the Heineken N.V. group in 1997 as a Sales Representative at Heineken Spain. Kennedy Uzoka – Group MD of United Bank for Africa Plc. MTN CEO is the highest earning CEO 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. Representing a … Baker gained his first degree in Economics at Makerere University in Uganda and Makerere University Business School. Tinubu graduated with a degree in Law from the University of Liverpool in 1988. 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. The CEO position makes them involved in all departments of the company. 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. He worked previously with PriceWaterHouse (now PriceWaterHouseCoopers) as a Senior Consultant in the Financial Services Group. ... Ferdinand Moolman is the chief executive officer of MTN Nigeria Communications Plc, and he earned N586 million in 2019. Jordi Borrut Bel Managing Director/ CEO, Nigerian Breweries Plc. Ghana Newss - 17/10/2020. His yearly remunerations stood at N440 million. 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. Tinubu currently sits on the boards of many companies in different capacities such as Director, MD, and Chairman. He is a Fellow of the Institute of Chartered Accountants of Nigeria (FCA). Tinubu top the list of 2018 highest paid CEOs of quoted firms in … 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. 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. Your email address will not be published. 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). This salary put Mr. Alarcon in the echelons of highest earning CEOs in the country. Its Nigerian business known as Mtn Nigeria is manage by Mr. Ferdinand Moolman. The salary of a Bank CEO in Nigeria isn’t a chicken. Peter Amangbo, Zenith Bank has […] 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. 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. Required fields are marked *. But the bank reportedly slashed the CEO’s emolument to N38m per annum, perhaps, as a measure against financial stress. Borrut earned a salary of ₦190milllion in 2018. 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. Alarcon who has been under the employ of Nestle globa since 1999, took home about ₦210million 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 spent over 10 years at Guaranty Trust Bank where he managed several portfolios including Financial institutions, Corporates and Multinationals. Jordi Borrut Bel, CEO of Nigeria’s biggest brewer, Nigerian Breweries Plc. But the bank reportedly slashed the CEO’s emolument to N38m per annum, perhaps, as a measure against financial stress. Wigwe started his professional career with Coopers and Lybrand Associates, an international firm of Chartered Accountants. This is because the challenging business environment in Nigeria make no room for survival of dull and lazy investors and entrepreneurs. Annually in Nigeria, New firms are born as also some multinationals makes entry into the Africa largest market. Mr. Ferdinand Moolman is the highest paid chief executive officer (CEO) in Nigeria with a total remuneration N585.94 million for the year 2019. Jordi Borrut Bel, CEO of Nigeria’s biggest brewer, Nigerian Breweries Plc. 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. Get the freshest lists straight into your inbox! 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.