Guaranty Trust Holding Company’s CEO Segun Agbaje has been named the highest-paid bank CEO in Nigeria for 2022.
According to information from GTCO’s 2022 audited financials, Agbaje received a staggering N445.69 million in compensation.
The amount he made in 2021 before GTB became a holding company, was N171.95 million less than this.
Demola Sogunle of Stanbic Bank, who had long held the title of highest-paid bank executive in the country, has recently been eclipsed in terms of Ajagbe’s compensation.
According to Stanbic, Sogunle received N245 million in compensation in 2022, an increase from the N204 million he received the year before.
It is crucial to remember that bank executives are paid in cash, including their gross salaries, allowances, and additional performance-based bonuses.
First City Monument Bank (FCMB), United Bank for Africa (UBA), Wema Bank (WEMA), Zenith Bank (Zenith), Access Bank (Access) holdings, and Union Bank of Nigeria (Union) are some other banks whose executives’ incomes were recorded.
The CEO of FCMB, Ladi Balogun, received N179.82 million in 2022 as opposed to N117.6 million in 2021, and Kennedy Uzoka of UBA received N215 million as opposed to N143 million in 2021.
Ademola Adebise got N79.52 million for WEMA in 2022 as opposed to N70.05 million in 2021.
Ebenezer Onyeagwu received N285 million in compensation from Zenith Bank in 2022 as opposed to N246 million in 2021.
Herbert Wigwe of Access Bank received N86 million in 2022 compared to N120 million in 2021, while Mudassir Amray, CEO of Union Bank since June 2022, received N82 million compared to N134 million given to his predecessor in 2021.
