The Association of Professional Women Bankers (APWB) has stepped up its advocacy for a more inclusive leadership structure in the Nigerian banking industry, calling for a significant increase in female representation on corporate boards. During its end-of-year wellness and networking session themed “Fit to Lead” held in Lagos on Tuesday, the association urged stakeholders to move the needle of women’s inclusion from the current 30 per cent threshold to a minimum of 40 per cent by 2026.
This call comes at a time when recent data highlights a historic shift in corporate Nigeria. According to the 2025 PWR NGX-30 Board Gender Diversity Scorecard, female representation across the top 30 listed companies in Nigeria has hit a record 31.1 per cent. However, the APWB believes that for the banking sector specifically—where women constitute nearly 60 per cent of the total workforce—the current level of representation at the top is not reflective of their massive contribution to the industry’s stability and growth.
Speaking at the event, the newly elected Chairperson of APWB, Mrs. Rafiat Onitiri, emphasized that the demand for 40 per cent representation is rooted in fairness and strategic business sense rather than just filling a quota. Mrs. Onitiri, a seasoned chartered banker who recently succeeded Mrs. Funke Ladimeji, noted that while the 30 per cent mandate by the Central Bank of Nigeria (CBN) was a good starting point, the industry is ready for the next level of transformation.
“Even achieving 40 per cent representation would be a major milestone for us,” Onitiri told the gathering of high-flying female professionals. “This is not about numerical equality; it is about fairness. Women contribute significantly to the growth and stability of the banking industry and deserve opportunities and recognition that reflect those contributions. A stronger female presence on bank boards will naturally enhance diversity of thought, strengthen governance, and support more sustainable business outcomes across the sector.”
The “Fit to Lead” event was designed as a holistic platform to address the physical and mental well-being of female executives. It featured guided aerobics, stretching sessions, and group fitness activities led by professional instructors. The initiative aims to remind female leaders that personal health is the bedrock of professional excellence.
APWB Second Vice Chairperson, Mrs. Temi Dalley, added that the physical exertion was meant to help members “de-stress” after a particularly demanding financial year. She noted that the association is determined to prepare its members to step into 2026 with a balanced mindset—physically, mentally, and emotionally. Mrs. Dalley reiterated that APWB would continue to push for policies that facilitate women’s advancement while ensuring that “wellness is not treated as a luxury, but as an essential tool for sustainable leadership.”
The event also served as a networking hub, allowing younger female bankers to interact with veterans like Mrs. Onitiri, who has over two decades of experience in retail and commercial banking. The association’s “One Banker, One Sister” mentorship initiative was highlighted as a key vehicle for grooming the next generation of female board members.
Analysts have often pointed out that banks with more gender-diverse boards tend to show better risk management and higher innovation rates. With five of Nigeria’s top 30 firms now led by female CEOs and several banks already crossing the 40 per cent mark—such as Transcorp Hotels and Access Holdings—the APWB believes the rest of the industry must now follow suit. As the 2025 financial year draws to a close, the association’s message is clear: the future of Nigerian banking is female, and that future must be reflected in the boardroom.
