CEOs In South Africa Earn Better Pay Than Nigerian Counterparts- Report
Nigeria’s Chief Executive Officers have been ranked the second highest paid among counterparts in other African countries.
PriceWaterhouseCoopers (PWC), an accounting firm, released the ranking in its remuneration report published on Thursday.
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CEOs of listed companies in Nigeria earn a median average of $323 000 (R4.6m) annually and an equivalent of N132,430,000 at the official rate of N410 per dollar, while in South Africa, CEOs earn $363,023 (R5.17m) an equivalent of N148.84m excluding long-term incentives.
Nigeria’s pay is the biggest among 382 listed companies from seven African countries apart from South Africa, according to PWC.
PWC said Chief Financial Officers in Nigeria also fall among the top earners with median earnings of $219 000 (R3.1m) which is an equivalent of N89.79m.
Some companies on the Johannesburg Stock Exchange pay CFO a median amount of $235,954 (R3.34m) or N96.74m.
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South African bourse is worth $1.1tn (R15.8tn) in Market Capitalization, while the Nigerian Exchange Group is valued at $49bn or N20.09trn (R704bn) in Market Capitalization.
