- Zenith Bank has appointed its first female Group Managing Director/Chief Executive in its 34 years of establishment
- Umeoji will resume her new role, having worked in the bank in various managerial capacities for over a decade
- Over the years, Umeoji has made significant contributions to the growth of the financial industry in Nigeria and Africa
Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
Zenith Bank, one of Nigeria's leading financial institutions, has announced the appointment of Adaora Umeoji as the new Group Managing Director/Chief Executive.
The announcement was made in a statement released by the bank to the Nigerian Exchange Limited (NGX) on Tuesday, March 19, 2024.
This makes her the first female GMD to lead the bank, where she serves as the deputy GMD. Umeoji's appointment is, however, subject to the approval of the Central Bank.
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According to the statement, Umeoji's appointment as the Group Managing Director will become effective in June 2024.
She will take over from Dr. Ebenezer Onyeagwu, whose tenure as MD expires on May 31, 2024.
Adaora Umeoji's profile
Part of Zenith Bank's statement reads:
"We write to inform you of the appointment, by the Board of Directors, of Dr. Adaora Umeoji, OON as Group Managing Director/Chief Executive of Zenith Bank Pic with effect from June 1, 2024, subject to approval by the Central Bank of Nigeria (CBN). "She takes over from Dr. Ebenezer Onyeagwu, whose tenure expires on May 31, 2024."The appointment is consistent with the bank's tradition and succession strategy of grooming leaders from within."Prior to this appointment, Dr. Umeoji has been the Deputy Managing Director of the bank since October 28, 2016 and has close to thirty (30) years cognate banking experience of which twenty-six (26) years has been with Zenith Bank.
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"She is an alumnus of the prestigious Harvard Business School where she attended the Advanced Management Program (AMP) and an alumnus of Columbia Business School with a Certificate in the Global Banking Program. She holds a Bachelor's Degree in Sociology from the University of Jos, a Bachelor's Degree in Accounting and a First-Class honors in Law from Baze University, Abuja. "She holds a Master of Laws from the University of Salford, United Kingdom, a Master in Business Administration (MBA) from the University of Calabar, and also has a doctorate in business administration from Apollos University, USA.Zenith Bank's plans
BusinessDay reports that, like other financial institutions, there are indications that Zenith Bank will be implementing its holding company (Holdco) structure with the current Group Managing Director, Ebenezer Onyeagwu, expected to be named as Chief Executive Officer after his 2-year cooling period as required by guidelines.
Onyeagwu has, however, been appointed Chairman of the Zenith Bank United Kingdom board.
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Zenith Bank chairman Jim Ovia makes over N13bn
Earlier, Legit.ng reported that Jim Ovia, the owner of Zenith Bank, has purchased additional shares in his bank.
The new shares come after he made over N13 billion from President Tinubu's inaugural speech.
He made money between 9:30 a.m. and 14:30, the trading hours of the Nigerian stock market.
Source: Legit.ng
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