Citibank Nigeria appoints Nneka Enwereji as new CEO.

Citibank Nigeria appoints Nneka Enwereji as new CEO.

Citibank Nigeria has taken a significant step forward by appointing Nneka Enwereji as its new Chief Executive Officer, effective August 19, 2024. With this appointment, Enwereji becomes the second female CEO in the bank’s history, taking the helm after the retirement of Ireti Samuel-Ogbu, who was notably the bank’s first female CEO and had a remarkable tenure of 36 years in that role.

NewsReport gathered that the Central Bank of Nigeria has given its approval for Enwereji’s promotion to this prestigious position, which underscores the trust and confidence the regulatory body has in her capabilities. Prior to this role, she garnered extensive experience in various key positions, including serving as the Head of Global Network Banking for sub-Saharan Africa, Co-Head of Global Banking for the Middle East and Africa, and working as an Executive Director in the Lenders Unit. Her impressive track record showcases her deep understanding of the banking industry and her ability to navigate its complexities.

In her capacity as the new CEO, Enwereji will draw upon her vast expertise, particularly in transaction services, risk management, operations, and corporate and investment banking. She is expected to play a crucial role in steering Citibank Nigeria towards compliance with the Central Bank’s revised capitalization requirements. These requirements have seen a substantial increase, rising from N50 billion to a significant N500 billion for banks operating internationally, while lending banks will see their minimum capital requirements shift from N25 billion to N200 billion. The deadline for achieving this compliance has been set for April 2026, and Enwereji’s leadership will be central to meeting these ambitious goals.

Enwereji’s credentials are impressive: she holds a First-Class Honors degree in Computer Science and Economics from Obafemi Awolowo University, as well as an MBA from Warwick Business School in the United Kingdom. Furthermore, she has enriched her professional development through executive training programs offered by prestigious institutions such as Yale University and UC Berkeley.

In her first statement following the announcement of her new role, Enwereji expressed her enthusiasm, stating that she is “excited about this new chapter at Citibank Nigeria Limited.” She emphasized her eagerness to collaborate with the dedicated team at Citibank to deliver the full value of Citi’s expansive network to clients, stakeholders, and the larger community. Dr. Shamsuddeen Usman, the Chairman of Citibank, has voiced his confidence in Enwereji’s leadership abilities, expressing anticipation that her extensive knowledge of the industry will propel the bank to new and greater heights.

It is noteworthy that Citi has maintained a presence in Nigeria for the past 40 years, positioning itself as a trusted client partner. The bank aims to be the foremost choice for international banking needs while simultaneously fostering innovation and supporting economic growth within the region. With Nneka Enwereji at the helm, there is a renewed sense of optimism for the future as Citibank Nigeria seeks to navigate the evolving dynamics of the financial landscape.