Do You Know the Chief Risk Officers in Nigeria’s Leading Banks?

Have you ever wondered about the people making sure that Nigeria’s biggest banks stay safe, stable, and super successful? Well, it’s the Chief Risk Officers (CROs)! 

These are the superheroes behind the scenes, making big decisions to keep the banks running smoothly. Here are the Chief Risk Officers of the some of the leading Nigerian banks.

Olumide Oguntuase – The Mastermind at GTCo

Olumide is like the quarterback of GTCo’s risk management team. He started off working with numbers and strategies at other banks before bringing his skills to GTCo. 

Oguntuase earned a Bachelor’s Degree in Agricultural Economics from Obafemi Awolowo University and an M.B.A. in Finance from Lagos State University. 

He also holds an Executive MBA from Imperial College Business School, focusing on Business, Management, Marketing, and Related Support Services, and has completed a Senior Management Programme at Lagos Business School, Pan-Atlantic University, enhancing his leadership skills.

For the fiscal year 2023, GTCO recorded a pre-tax profit of N609.3 billion. In Q1 2023 alone, the group reported a pre-tax profit of N509.3 billion, which is a 587.5% year-over-year increase from N74.1 billion. 

Additionally, GTCO achieved a net interest income of N227.3 billion, marking a 177% year-over-year growth from the N82.2 billion recorded in the same period the previous year.

Felix Egbon – The Strategy Guru at Zenith Bank 

Felix Egbon holds the position of Chief Risk Officer and General Manager at Zenith Bank, where he also leads the Risk Management Group. Since joining the bank in May 2006, Egbon has been instrumental in developing a comprehensive risk management framework for the institution.

Prior to his tenure at Zenith Bank, Egbon was the Principal Manager at United Bank for Africa Plc, overseeing branch coordination, internal control, and audit functions. 

He is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN), an honorary member of the Chartered Institute of Bankers of Nigeria, and a Senior member of the Risk Management Association of Nigeria. Egbon also gained significant auditing and business advisory experience at PricewaterhouseCoopers, where he worked as an Audit Senior.

As of August 29, 2024, Zenith Bank boasts a market capitalization of N1.2 trillion. In the first quarter of 2024, the bank reported a pre-tax profit of N320.2 billion, a 270% year-over-year increase from N86.6 billion in the first quarter of 2023. Zenith Bank, which led as the top profit earner in FY 2023, achieved the country’s highest net interest income of N306.5 billion in Q1 2024, securing its position as the second-highest profit earner during this period.

Awele Ajibola – The Risk Wizard at UBA Group 

Awele Ajibola is the Chief Risk Officer of UBA Group, which means she helps the bank make sure it doesn’t take too many risks. She started this job in February 2024 and has been working in this field for over 20 years. Before she worked at UBA Group, Awele was in charge of risk management at FBNQuest for four years, where she helped the company stay stable financially.

Awele first learned about managing risks at Diamond Bank, where she worked for nearly eight years. She has a lot of experience and has worked at several other banks too. She studied Mathematics and Statistics at the University of Lagos and has an MBA from Lagos Business School. She also has some important certificates that show she is really good at her job.

Recently, UBA Group, where Awele works, made a profit of N156.3 billion in just one part of the year, which was a lot more than the year before. The bank also made N300.7 billion just from interest, which means they did well by lending money to people and businesses. They made a total of N375.3 billion in this period.

Jobome Gregory – The Knowledge King at Access Bank

JDr. Jobome Gregory is the Chief Risk Officer at Access Holdings, having started there in 2017. He first joined Access Bank Plc in 2010 as General Manager and Chief Risk Officer. Before that, he worked as a Risk Management Consultant for Guaranty Trust Bank Plc, where he helped improve the bank’s risk management.

Dr. Jobome has worked in the banking and finance industry for over 26 years, including significant time at institutions like Guaranty Trust Bank, the University of Liverpool Management School, Manchester Business School, and Access Bank Plc.

He has an impressive educational background with a first-class degree in Economics from the University of Maiduguri, a Master’s in Business Administration with Distinction from Obafemi Awolowo University, and both a Master of Science and a Doctorate in Economics and Finance from Loughborough University, UK.

Recognized for his expertise and leadership, Dr. Jobome has held several important roles such as Chairman of CRC Credit Bureau Ltd, President of the Risk Management Association of Nigeria, and a member of the Working Group on Regulatory Reforms at the Institute of International Finance.

Kola Lawal – The Credit Commander at Stanbic IBTC 

Kola Lawal is the Executive Director and Chief Risk Officer at Stanbic IBTC Holdings, a role he has held since joining the bank in November 2008. His career in finance and risk management spans over 25 years.

Before his time at Stanbic IBTC, Lawal developed his expertise at Agusto and Co as a Ratings Analyst and Financial Advisory Consultant, and at Standard Chartered Bank as a Corporate Credit Analyst. He also worked at Standard Bank South Africa as a Regional Credit Evaluation Manager for the Southern Africa Region before returning to Stanbic IBTC in Nigeria as the Head of Corporate and Investment Banking (CIB) Credit in January 2015. By February 2019, he advanced to become the Head of Credit for Nigeria.

Lawal holds a Bachelor of Science degree in Building from Obafemi Awolowo University, Ile-Ife, and a Master’s in Construction Economics and Management from University College London, United Kingdom.

During the latest quarter, Stanbic IBTC Holdings reported a pre-tax profit of N62.7 billion, showing a 73% increase from the previous year. The banking division alone posted a pre-tax profit of N48.2 billion, a 102% growth from the prior year.

Chinedu Ikwudinma – The Risk Specialist at Ecobank 

Chinedu Ikwudinma, appointed as the Group Chief Risk Officer at Ecobank in 2022, brings extensive experience from his time at Citigroup and as the Managing Director of Nova Merchant Bank in Nigeria.

With over 26 years in the banking industry, he has held high-level positions in Commercial Banking, Corporate & Investment Banking, and Risk Management at Citigroup, and has also led Citibank Uganda and Corporate Banking in Citibank Zambia.

Chinedu holds an MSc in Structural Engineering and an MBA from the University of Lagos. His expertise includes Corporate Finance, Project Finance, Trade Finance, Derivatives, Working Capital, and various banking products. Under his leadership, Ecobank Transnational Incorporated reported a substantial growth in pre-tax profits, posting N201.5 billion for the quarter ending March 31, 2024, a 249% increase from the previous year’s N57.7 billion.

Kevin Ugwuoke – The Defender at Fidelity Bank 

Kevin Ugwuoke has been the Chief Risk Officer and Executive Director of Risk Management at Fidelity Bank since July 2020. He manages various aspects of the bank’s risk, including credit, IT, operational risk management, and compliance.

Ugwuoke joined Fidelity Bank as a General Manager in March 2015, after gaining extensive experience at United Bank for Africa, Access Bank, and Citi Bank.

He has a Bachelor’s Degree in Civil Engineering from the University of Nigeria, Nsukka, and a Post-Graduate Diploma in Management from Edinburgh Business School at Heriot-Watt University. His significant contributions to the banking sector have earned him a Senior Honorary Membership at the Chartered Institute of Bankers of Nigeria.

Fidelity Bank, with a market cap of N337.72 billion, reported a pre-tax profit of N39.5 billion in the recent quarter, a 120% increase from the previous year. The bank also saw a net interest income of N99.6 billion and gross earnings of N192.1 billion, indicating strong growth and performance