By Damilola Adeleke

A report by Proshare has identified Ebenezer Onyeagwu, the CEO of Zenith Bank, as the highest-paid employee in Nigeria. The report, published in November 2024, states that Onyeagwu earns a basic salary of ₦2.17 billion annually, which translates to ₦5.9 million per day.

Top 10 Highest-Paid CEOs in Nigeria (2024)

1. Ebenezer Onyeagwu (Zenith Bank) – ₦2.17bn annually (660% increase from ₦258m in 2022).
2. Karl Toriola (MTN Nigeria) – ₦1.625bn (previously ₦850m in 2022).
3. Lars Richter (Julius Berger) – ₦888m (112.62% increase from ₦417m).
4. Roger Brown (Seplat Energy) – ₦746m (previously ₦500m in 2022).
5. Arvind Pathak (Dangote Cement) – ₦609m (replaced Michel Puchercos in March 2023).
6. Samba Seye (Total Energies) – ₦544m (took over in September 2021).
7. Hans Essadi (Nigeria Breweries) – ₦486m (became CEO in July 2021).
8. Segun Agbaje (GTCO) – ₦457m (previously ₦445m in 2022).
9. Wassim Elhusseini (Nestle Nigeria) – ₦428m (appointed in September 2020).
10. Demola Sogunle (Stanbic IBTC) – ₦330m (salary increased from ₦245m).

Highest-Paid CEOs in 2023

Late Herbert Wigwe (Access Holdings) – ₦4.657bn.

Ebenezer Onyeagwu (Zenith Bank) – ₦547.96m.

Karl Toriola (MTN Nigeria) – ₦1.625bn.

Wole Oshin (Custodian Investment) – ₦1.311bn (₦19m salary + ₦1.292bn in dividends).

Lars Richter (Julius Berger) – ₦888m.

Roger Brown (Seplat Energy) – ₦874m.

Arvind Pathak (Dangote Cement) – ₦609m.

Segun Agbaje (GTCO) – ₦594m.

Samba Seye (Total Energies) – ₦544m.

Hans Essadi (Nigeria Breweries) – ₦486m.