On the Nigerian Exchange, a few chief executives own large blocks of the shares they oversee. That level of personal exposure is often read as a vote of confidence in the company’s future.
It tightens the link between leadership choices and shareholder outcomes, and in a market that talks often about governance and trust, it can reassure investors that management and owners are pulling in the same direction.
Here are the top ten Nigerian CEOs with the most shares in their own companies :
1) Wole Oshin — Custodian Investment Plc
Estimated holding: 1.63 billion shares (about 6.22 per cent of 26.20 billion shares)
As the founder and chief executive of an insurance led investment group, Oshin’s position reflects a long-running commitment and meaningful voting influence.
A stake of this size can shape capital allocation, deal-making, and dividend policy while aligning closely with other long-term holders.
2) Eddie Efekoha — Consolidated Hallmark Holdings Plc
Estimated holding: about 1.62 billion shares (roughly 8.56 percent of 18.93 billion)
A blend of direct and indirect shares gives Efekoha a significant economic interest in the group.
For an insurance and financial services platform, insider ownership at this level signals belief in underwriting discipline and growth plans.
3) Folasope Aiyesimoju — UAC of Nigeria Plc
Estimated holding: 130.72 million shares (about 7.4 percent of 1.77 billion)
UACN is a century old conglomerate pivoting through portfolio changes. Aiyesimoju’s personal stake reinforces the case for patient execution around food, real estate, and services while keeping leadership tied to outcomes through the cycle.
4) Ladi Balogun — FCMB Group Plc
Estimated holding: 648.38 million shares (about 3.25 percent of 19.92 billion)
In banking, even a single-digit percentage is material. Balogun’s position underscores alignment across the group’s bank, investment banking, and pensions arms as FCMB pursues retail depth and fee income.
5) Yemi Odubiyi — Sterling Financial Holdings Company Plc
Estimated holding: 707.96 million shares (about 1.36 percent of 52.11 billion)
Post reorganisation into a holding company, Sterling is leaning into specialised banking and new verticals. Odubiyi’s holding supports a long-horizon approach to those strategic bets.
6) Babatunde Fajemirokun — AIICO Insurance Plc
Estimated holding: 147.11 million shares (about 0.40 percent of 36.60 billion)
Life and general insurance require steady capital and discipline. A chief executive with real exposure has more reason to balance growth with solvency and claims performance.
7) Oliver Alawuba — United Bank for Africa Plc
Estimated holding: 111 million shares (about 0.32 percent of 34.19 billion)
UBA’s pan African model spans many countries. Alawuba’s stake, while modest as a percentage, still represents a strong personal link to execution on cost control, digital adoption, and regional scale.
8) Nneka Onyeali Ikpe — Fidelity Bank Plc
Estimated holding: 94.64 million shares (about 0.30 percent of 32.00 billion)
Fidelity’s retail and SME push depends on steady margins and asset quality. A meaningful personal stake helps align credit discipline with growth targets.
9) Adaora Umeoji — Zenith Bank Plc
Estimated holding: about 91.9 million shares (about 0.29 percent of 31.39 billion)
Zenith is known for strong capital and low-cost funding. Umeoji’s direct and indirect holdings keep leadership outcomes tied to returns on equity and payout choices.
10) Peter Ashade — United Capital Plc
Estimated holding: about 50.9 million shares (about 0.28 percent of 18.00 billion)
As head of an investment banking and asset management group, Ashade’s exposure links executive decisions to fee growth, fund performance, and capital discipline.