The Nigerian Exchange’s largest companies rely on a relatively concentrated group of registrars to manage their shareholder records, dividend administration and other investor services.
An analysis of 46 NGX-listed companies in the NMX 100 universe that reported more than N100 billion in revenue in the 2025 financial year shows that five registrar firms account for more than two-thirds of the companies in the sample.
First Registrars has the largest footprint, serving seven of the 46 companies reviewed. Coronation Registrars, Greenwich Registrars, Africa Prudential and Meristem Registrars each handle six companies.
Together, the five firms serve 31 of the 46 companies, representing about 67.4% of the sample. This concentration highlights the role of a relatively small group of registrar businesses in supporting some of the NGX’s largest listed companies by revenue.
Registrar firms play a critical role in Nigeria’s capital market infrastructure, maintaining shareholder records, processing dividend payments, supporting corporate actions and facilitating communication between listed companies and their investors.
Here are the CEOs leading the registrar firms serving some of the largest companies listed on the Nigerian Exchange (NGX).
Bridget Bayo-Ajayi is a commercially astute share registration professional with over 17 years of experience spanning customer experience, business development, relationship management, and financial operations.
She holds Bachelor’s and Master’s degrees in Business Administration and is an Associate Member of the Institute of Capital Market Registrars (ICMR).
Before joining Cordros Registrars Limited, Bridget held senior roles at Africa Prudential Plc and First Registrars and Investor Services Limited, where she built extensive experience in share registration and investor services.
Cordros Registrars currently represents Eterna, the sole company handled by the registrar in the 46-company sample of NGX-listed businesses reviewed.
Oluwaseyi Olulana is the Acting Registrar of Atlas Registrars, bringing more than 15 years of experience at the registrar and shareholder-services firm.
Olulana joined Atlas Registrars in June 2011 and has held the combined role of Acting Registrar and Accountant, overseeing financial and registrar-related responsibilities. Atlas Registrars currently represents Honeywell Flour Mills, the sole company handled by the firm in the sample of 46 NGX-listed companies reviewed.
Before joining Atlas, Olulana spent more than 13 years at Flour Mills of Nigeria, progressing from Accounts Assistant to Accountant. Her responsibilities included account reconciliation and other financial management functions.
A chartered accountant, Olulana is a Fellow of the Institute of Chartered Accountants of Nigeria. She holds an HND in Accounting from Yaba College of Technology and has built his career around accounting, financial controls and capital-market administration.
Adeniji Tokunbo is the Managing Director of Pace Registrars, bringing more than 15 years of experience in Nigeria’s share registration industry.
A share registration specialist, Tokunbo began his career in the sector before joining Pace Registrars, having previously held senior positions at City Securities (Registrars) Limited.
His experience spans shareholder services and the administration of securities within Nigeria’s capital market. At Pace Registrars, he leads the business that provides registrar services to listed companies, including Sterling Financial Holdings, the sole company represented by the registrar in the NMX 100 sample reviewed.
Tokunbo holds a B.Sc. in Accounting from the University of Lagos and a Master’s degree in Public Administration from Lagos State University.
Olufisola Folayan, FCA, is Managing Director of DATAMAX Registrars, bringing more than two decades of experience across Nigeria’s financial services and capital markets.
A career professional in accounting, banking and business operations, Folayan has spent much of her career in share registration and securities administration. Before joining DATAMAX Registrars, she led two major players in Nigeria’s registrar industry, serving as Managing Director of Greenwich Registrars and Data Solutions and, before that, as Registrar of Coronation Registrars, formerly United Securities.
Her career has also extended beyond financial services. Folayan has held executive management positions in the manufacturing and construction sectors, including as Executive Director at LV Foods and Beverages, an FMCG company, as well as at a diversified infrastructure and construction services business.
Her experience spans general administration, finance, accounting, business development, securities registration, capital issues and business operations, giving her a broad view of the financial infrastructure supporting Nigeria’s capital market.
Folayan holds a degree in Accounting and Finance and is a Fellow of the Institute of Chartered Accountants of Nigeria. She is also an Associate of the Institute of Capital Market Registrars and an alumna of Lagos Business School.
Mubo Olasoko has spent more than two decades in Nigeria’s financial services industry, rising from client services at Meristem Securities to become Registrar and CEO of Meristem Registrars.
She has led Meristem Registrars since April 2008, after nearly five years as Head of Client Services at Meristem Securities. Her tenure has coincided with the expansion of the group’s registrar and probate businesses, with a focus on client service, business transformation and new opportunities in wealth administration.
Olasoko was also involved in establishing Meristem’s probate subsidiary, targeting an underserved area of Nigeria’s financial services market by supporting asset transfer and wealth preservation.
Her leadership portfolio extends beyond operations, with a strong emphasis on organisational culture, mentoring and developing culture ambassadors within the Meristem group.
A graduate of Theatre Arts from the University of Jos, Olasoko has paired her creative background with financial-market expertise. She attended executive education at Harvard Business School and is an Associate of the Chartered Institute of Stockbrokers.
She is also a Fellow of the Institute of Capital Market Registrars and an authorised dealing clerk of the Nigerian Stock Exchange, bringing a blend of capital-market knowledge, client management and strategic leadership to Meristem’s registrar business. Meristem Registrars handles six companies in the sample, including First HoldCo, Conoil, Geregu Power, NASCON Allied, Custodian Investment and Vitafoam Nigeria.
