By Adeola Shittu
Abolanle Matel-Okoh, daughter of gaming magnate Sir Kessington Adebutu, fondly known as Baba Ijebu, has emerged as Nigeria’s richest female shareholder in a publicly listed company. With a commanding stake in Wema Bank Plc valued at approximately N75.2 billion, she leads the pack of women investors on the Nigerian Exchange (NGX).
As of December 31, 2024, Abolanle holds a combined 7,029,759,270 shares in Wema Bank—comprising 972,669,052 direct shares and 6,057,090,218 indirect shares. With Wema Bank's share price closing at N10.70 as of March 28, 2025, her stake translates to a massive market value of N75.22 billion.
Thanks to Wema Bank’s declared N1.00 dividend per share, Abolanle is set to earn a dividend payout of approximately N7.03 billion—a financial milestone that further underscores her powerful position in Nigeria’s banking industry.
Beyond her wealth, Abolanle is a highly qualified professional. An attorney with over 30 years of experience, she holds an LL.B (Hons) degree in Law from Olabisi Onabanjo University and is admitted to both the Nigerian Bar and the New York State Bar. Her legal career spans Admiralty Law, Immigration Law, and participation in a multi-billion-dollar insurance class action litigation in the United States.
She was appointed as a Non-Executive Director at Wema Bank in 2015, bringing to the board a sharp legal mind and extensive corporate governance expertise. Abolanle is well-trained in board effectiveness, risk management, and advanced strategy for directors, having received executive education at IMD Lausanne (Switzerland), INSEAD (France), and Harvard Business School (USA).
In addition to her board role, she is the Founder and Managing Director of Havilah Ventures, an investment firm with diverse interests. A certified executive coach, she also leads BMO Advisory Services and founded The Women’s Lifestyle Hub, platforms focused on leadership, empowerment, and personal development.
Interestingly, her father, Sir Kessington Adebutu, is the largest male shareholder in Wema Bank, with a 28.26% stake. Together, the Adebutu family wields considerable influence over the bank’s strategic direction—quietly shaping one of Nigeria’s most progressive financial institutions.
While she maintains a low public profile, Abolanle Matel-Okoh’s impact is far from silent. She represents a compelling fusion of legacy, intellect, and quiet power—an emblem of modern Nigerian leadership at the intersection of wealth, law, and strategic governance.
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