ZENITH BANK TO HOST 10TH INTERNATIONAL TRADE SEMINAR, CHARTS PATH TO UNLOCKING GREATER VALUE IN NIGERIA’S NON-OIL EXPORT SECTOR
Zenith Bank Plc will host the 10th edition of its International Trade Seminar on Non-Oil Export on Tuesday, 25 August 2026, bringing together leading policymakers, regulators, exporters, manufacturers, investors and other key stakeholders to explore practical strategies for unlocking value and accelerating growth in Nigeria’s non-oil export sector.
Themed “Unlocking Value and Harnessing Growth in Non-Oil Export”, the virtual seminar will examine how Nigeria can move beyond exporting raw commodities to build globally competitive value chains, expand market access, strengthen trade infrastructure and financing, and deepen the contribution of non-oil exports to sustainable economic growth.
The high-level event will feature an impressive line-up of guest speakers, including the Secretary-General of the African Continental Free Trade Area (AfCFTA) Secretariat, H.E. Wamkele Mene; the Chief Executive Officer of Plot Enterprise Ghana Limited, Mrs Patricia Poku-Diaby; and the immediate past President and Chairman of the Board of Directors of the African Export-Import Bank (Afreximbank), Professor Benedict Oramah.
The seminar will also convene leading voices from the public and private sectors in two panel discussions. The first panel, dedicated to public sector perspectives, will bring together key stakeholders driving Nigeria’s trade, export, investment and economic development agenda. It will feature the Managing Director/Chief Executive of the Nigerian Export-Import Bank (NEXIM Bank), Mr Abba Bello; the Comptroller-General of the Nigeria Customs Service, Mr Adewale Adeniyi; the Director, Trade and Exchange Department, Central Bank of Nigeria, Ms Aderinola Shonekan; the Executive Secretary/Chief Executive Officer of the Nigerian Investment Promotion Commission (NIPC), Mrs Aisha Rimi; and the Executive Director/Chief Executive Officer of the Nigerian Export Promotion Council (NEPC), Mrs Nonye Ayeni.
The second panel, focused on private sector perspectives, will feature the Managing Director/Chief Executive Officer of Starlink Global & Ideal Limited, Alhaji Adeniji Adeyemi; the Group Executive Director, Dangote Group, Alhaji Sada Ladan-Baki; Senior Consultant at 3T Impex Trade Centre, Mr Bamidele Ayemibo; the Managing Director of Terra Aqua Environmental Consultancy Nigeria Limited, Alhaji Mobolaji Salako; the Managing Director/Chief Executive Officer of RMM Global, Mr Ramzi Taher; and the Managing Director/Chief Executive Officer of Lelook Nigeria Limited, Chief Mrs Chinwe Ezenwa.
The discussions will offer practical perspectives on trade facilitation, export financing, customs and port efficiency, regulation, market access, and the competitiveness of Nigerian businesses in regional and global markets.
A key focus of the seminar will be the African Continental Free Trade Area and its potential to open up a larger market for Nigerian goods and services while deepening intra-African trade. With the AfCFTA offering businesses access to a market of more than one billion people, the discussions will examine how Nigerian enterprises can leverage regional integration, build competitive value chains and seize emerging opportunities across the continent.
Zenith Bank has consistently championed conversations around trade and economic development. It remains at the forefront of efforts to support businesses seeking to participate more effectively in regional and international commerce. The Bank has also partnered with the AfCFTA Secretariat on initiatives to facilitate cross-border trade and expand access to opportunities across Africa.
Now in its 10th edition, the Zenith Bank International Trade Seminar has evolved into a leading platform for high-level dialogue on Nigeria’s trade and export ecosystem. Over the years, the seminar has brought together government, regulators, businesses, financial institutions, and other stakeholders to examine emerging trends, identify challenges, and proffer practical solutions to strengthen Nigeria’s position in global commerce.
The 2026 edition will build on this legacy, convening some of the most influential voices shaping Nigeria’s trade, investment and economic landscape around one critical question: how can Nigeria unlock greater value from its non-oil exports and translate its vast productive potential into sustainable economic growth?
The seminar will be held virtually and streamed live on Zoom, YouTube, Instagram, Facebook, X, and TikTok, enabling participants in Nigeria and around the world to join the conversation. Interested participants can register at www.zenithbank.com/exportsem
Zenith Bank Widens the Gap: Inside Nigeria’s Best-in-Class Lender
Zenith Bank Plc has spent 2026 collecting the kind of hardware that separates a good regional lender from a genuine African champion.
Fresh off a sweep of Euromoney’s most coveted awards, a completed acquisition in Kenya, a newly opened subsidiary in Francophone West Africa, and plans for a London Stock Exchange listing in 2027, Nigeria’s most profitable bank is now making the case that it is also the best-run one.
A close read of its unaudited first-quarter 2026 financial statements — its net interest income, fee income, capital buffers and loan book all expanding faster than the industry average — backs that case up with numbers.
The Lagos-based lender’s Group profit before tax rose 3% year-on-year to ₦361 billion in the three months to March 31, 2026, the highest absolute pre-tax profit among Nigeria’s seven largest banks and the only one of the group to combine top-line profitability with double-digit growth in net interest income, fee income and shareholders’ equity simultaneously.
Layer on a historic Euromoney double and an accelerating Pan-African build-out, and the numbers tell a story that goes well beyond one good quarter.
Zenith closed the first quarter of 2026 with total assets of ₦32.01 trillion, up 1.8% from ₦31.46 trillion at the end of December 2025, even as the balance sheet held broadly flat year-on-year against the ₦32.42 trillion reported in March 2025 — a sign of a bank actively re-shaping its asset mix rather than simply expanding its footprint.
Customer deposits, the cheapest and stickiest source of funding for any lender, climbed 7.9% year-on-year to ₦24.47 trillion, while total shareholders’ equity surged 16.3% to ₦5.17 trillion — a rate of capital accretion that outpaces balance-sheet growth and signals a bank retaining and compounding earnings rather than chasing volume.
That equity build has real consequences for market standing. Zenith Bank’s shares have gained more than 104% year-to-date through July 23, 2026, pushing its market capitalization to roughly ₦5.18 trillion.
The top three banks by market capitalization are now separated by less than 2% of market value — but Zenith is the only one of the trio backing its valuation with the industry’s fastest brand-value growth, up 33.6% on the continent, according to the latest report by Brand Finance.
While Access Holdings’ aggressively acquisitive strategy has made it Nigeria’s largest bank by sheer balance-sheet size — ₦51.56 trillion in total assets as of 2025 — Zenith’s smaller, more capital-efficient balance sheet is generating disproportionately more profit per naira of assets deployed, a theme that recurs throughout its results.
Loan Book: Growing Faster Than the Balance Sheet, Cleaner Than a Year Ago
Zenith’s credit expansion in the first quarter outpaced every other line on the balance sheet. Gross loans and advances to customers rose 8.6% year-on-year to ₦12.04 trillion, while net loans — after impairment allowances — jumped a sharper 13.2% year-on-year to ₦11.38 trillion, reflecting both fresh credit extension and an improving quality of the existing book.
That improvement in quality is the more important story for analysts and investors skeptical of loan growth achieved by lowering underwriting standards.
Zenith’s non-performing loan ratio — Stage-3, credit-impaired loans as a share of gross loans — stood at 3.79% at the end of March 2026, essentially flat against 3.82% at the end of 2025 but down sharply from 4.70% at the end of 2024, continuing a multi-year de-risking trend even as the loan book itself expanded.
Independent disclosures from full-year 2025 put Zenith’s loan-loss coverage ratio at 172.6% — meaning provisions held against bad loans exceed the value of the impaired loans themselves by more than 70%, a comfortable buffer well above what regulators require.
Growing the loan book faster than the balance sheet while simultaneously cutting the bad-loan ratio is a combination few Tier-1 African lenders can claim in the same quarter.
Interest and Fee Income: A Diversifying Revenue Engine
Zenith’s income statement shows a bank successfully diversifying away from pure interest-rate carry. Gross earnings for the quarter rose 6.1% year-on-year to ₦1.01 trillion, but the composition of that growth is the more telling detail.
Net interest income — the core spread between what the bank earns on loans and investments and what it pays on deposits — climbed 7.3% to ₦634.1 billion, the largest net interest income of any Nigerian bank in the quarter.
The standout, however, is fee income. Net fee and commission income surged 44.6% year-on-year to ₦81.0 billion, up from ₦56.0 billion a year earlier — a growth rate more than six times faster than net interest income and a clear signal that Zenith is successfully monetizing transaction banking, digital channels and card services rather than relying solely on its loan book for growth.
For full-year 2025, the bank’s net interest margin stood at 13.7%, one of the widest among Nigerian Tier-1 banks and a reflection of disciplined asset-liability pricing through a high-rate environment.
Return on Equity: Profitability That Outruns Balance-Sheet Growth
Return on average equity is where Zenith’s capital discipline shows up most clearly. The bank closed full-year 2025 with a return on average equity of 23.2% and a return on average assets of 3.4%, both figures independently disclosed alongside its FY2025 results.
That profitability was rewarded directly at the shareholder level: Zenith’s board doubled its total dividend for 2025 to ₦10.00 per share — split between a ₦1.25 interim payout and a ₦8.75 final dividend — from ₦5.00 the previous year, distributing roughly ₦410.7 billion to shareholders, one of the largest dividend payouts in Nigerian corporate history.
Cost discipline underpins the returns: full-year 2025 cost-to-income ratio came in at 45.2%, while the bank’s own Q1 2026 figures point to further improvement, with operating expenses absorbing roughly 47.15% of operating income for the quarter — a leaner ratio than the FY2025 run rate.
Against peers, the ROE story favors Zenith on a risk-adjusted basis.
Capital Adequacy: A Fortress Balance Sheet
Regulators and rating agencies alike have flagged Zenith’s capital position as a standout. The bank’s capital adequacy ratio stood at roughly 25% at the end of full-year 2025 and its liquidity ratio at 71%, both comfortably clear of the Central Bank of Nigeria’s regulatory minimums for systemically important banks. Fitch Ratings’ most recent update pegs Zenith’s standalone total capital ratio even higher, at 25.8% at end-2025, against a fully-loaded core capital ratio of 28% — a buffer Fitch frames as well in excess of regulatory requirements.
Equity research from CardinalStone projects that buffer widening further, forecasting a capital adequacy ratio of 28.7% for 2026 and 30.8% for 2027 as retained earnings continue to compound. A capital position this deep gives Zenith room to absorb credit shocks, fund loan growth internally, and — as its international ambitions make clear — write bigger cross-border checks without straining its own solvency.
A Historic Euromoney Double
The market recognition arrived in force this month. At the Euromoney Awards for Excellence 2026, presented July 16 at The Peninsula London Hotel against a record field of more than 770 entries, Zenith Bank was named both “Africa’s Best Bank” and “Nigeria’s Best Bank” — the latter for the second consecutive year, having also won the national title in 2025.
Zenith Bank, Group Managing Director Dr. Adaora Umeoji called the double “a reflection of the trust of our customers, the dedication of our unicorn workforce, and our unwavering commitment to building a truly African global financial institution.”
The Euromoney sweep sits atop an already crowded trophy shelf: Zenith has been ranked the Number One Bank in Nigeria by Tier-1 Capital for 17 consecutive years in The Banker’s Top 1000 World Banks Ranking, and has separately been named Bank of the Year (Nigeria) by The Banker in 2020, 2022 and 2024, and Best Bank in Nigeria by Global Finance’s World’s Best Banks Awards in 2020, 2021, 2022, 2024 and 2025.
Pan-African Expansion: Kenya, Côte d’Ivoire and a London Listing
Zenith’s ambitions have moved decisively past Nigeria’s borders in 2026, on three fronts simultaneously.
East Africa: In April 2026, Zenith completed its acquisition of 100% of the issued share capital of Paramount Bank Kenya Limited, following regulatory approvals from both the Central Bank of Kenya and Nigerian authorities — a deal first disclosed in November 2025.
Paramount is a modest player — ranked 33rd of Kenya’s 39 licensed banks with roughly 0.2% market share — but the acquisition hands Zenith a regulated foothold in East Africa’s largest and most stable economy, with GDP exceeding $136 billion, giving it a platform to build out corporate and trade-finance relationships beyond West Africa.
Francophone West Africa: On April 29, 2026, Zenith formally launched its Côte d’Ivoire subsidiary at SCI Wall Street in Abidjan’s Plateau business district — its first entry into Francophone West Africa after securing a license from the Ivorian Ministry of Finance and Budget in December 2025 and regulatory clearance from the UMOA Banking Commission.
The subsidiary, led by Cédric Tano, gives Zenith direct access to the eight-nation WAEMU currency bloc — Senegal, Mali, Burkina Faso, Niger, Guinea-Bissau, Togo, Benin and Côte d’Ivoire — and comes as the bank simultaneously moves into Cameroon and the Central African Economic and Monetary Community.
“We are proud to establish Zenith Bank’s presence in Côte d’Ivoire at a time of strong economic growth in the country and increasing regional integration,” Tano said at the launch. GMD Adaora Umeoji framed the move as fulfilling founder Jim Ovia’s founding vision: “to build a truly global brand with a strong presence across Africa and key international markets.”
The Ivorian entry follows a ₦350.5 billion (roughly $231 million) capital raise disclosed in 2025, of which 40% was earmarked specifically for overseas expansion, alongside a newly secured Paris branch license to support the broader Francophone Africa push.
London: Perhaps the most consequential long-term move is Zenith’s stated intent to list on the London Stock Exchange in 2027. Bloomberg first reported the plan on March 17, 2026, describing Zenith as seeking to “broaden access to capital and strengthen client services.”
A bank spokesperson told Bloomberg the rationale is explicitly deal-driven: “There are a lot of deals we have on the table to finance across the UK and other countries, for which we need to raise more capital.”
The plan builds on Zenith’s existing UK subsidiary and Manchester branch network, and would give the bank direct access to deeper international capital pools to fund the very cross-border pipeline its Kenyan and Ivorian expansions are now generating.
Taken together, the Kenya deal, the Côte d’Ivoire launch and the LSE listing plan describe a bank building simultaneously outward in three directions — East Africa, Francophone West Africa, and international capital markets — rather than defending Nigerian market share alone.
The Bottom Line
No single data point confirms Zenith Bank’s case as Nigeria’s Best-in-Class Lender — it is the accumulation of them. A balance sheet growing its loan book faster than its total assets while cutting bad debt. A revenue mix diversifying into fee income at a 44.6% annual clip. A capital position deep enough that rating agencies and equity researchers alike see room for it to widen further through 2027. A shareholder payout that doubled in a single year. And now, external validation from the industry’s most competitive award program, layered on top of simultaneous expansion into Kenya, Côte d’Ivoire and — pending 2027 — the London Stock Exchange.
Rivals can point to faster growth in isolated quarters, but none combine Zenith’s scale, capital strength and cross-border momentum in the same reporting period. That combination, more than any single metric, is what underpins the “best-in-class” label Euromoney’s judges affixed to Zenith Bank this July.
NOTE: This analysis draws on Zenith Bank Plc’s unaudited consolidated financial statements for the three months ended March 31, 2026, supplemented by independent research and data from MoneyCentral, Bloomberg, ThisDay, Nairametrics, Euromoney, Fitch Ratings, CardinalStone Research, Brand Finance and other sources. All figures are in Nigerian naira unless otherwise stated. Market capitalization and share-price data reflect trading as of the cited publication dates (July 23, 2026) and are subject to change.
ZENITH BANK ANNOUNCES THE APPOINTMENT OF KENNEDY OKWUDILI AS EXECUTIVE DIRECTOR
Zenith Bank Plc has announced the appointment of Mr. Kennedy Onuwa Okwudili as an Executive Director of the bank effective May 1, 2026. The appointment, which is consistent with the bank’s tradition and succession strategy of grooming leaders from within, will further strengthen the bank’s Executive Management.
Mr. Okwudili graduated with a Bachelor of Science (Honours) in Accounting in 1998 from the University of Maiduguri, Nigeria, with a Second Class Upper division. He obtained a Masters of Business Administration (MBA) from the Ahmadu Bello University, Zaria, Nigeria in 2008 and a Masters of Science in Accounting from Veritas University, Abuja, Nigeria in 2021.
Mr. Okwudili has over twenty-five years of cognate banking experience spanning credit and marketing, treasury, compliance as well as operations and had at different times worked in various zones and departments of the bank.
He is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN), 2013, a Fellow of the Chartered Institute of Bankers of Nigeria (CIBN), 2024 and an Associate of the Chartered Institute of Taxation of Nigeria (CITN), 2016.
He has attended several Executive Education Programmes both within and outside the country, including: Senior Leadership Development Programme at the Lagos Business School, Corporate Directorship Programme at the Harvard Business School and Oxford Advanced Management and Leadership Programme at the University of Oxford, SAID Business School.
He is currently the President of Catholic Bankers Association of Nigeria (CBAN) and a member of the Noble Order of the Knights of St. John International (KSJI).
ZENITH BANK OPENS MANCHESTER BRANCH TO SUPPORT CROSS-BORDER TRADE AND INVESTMENT
Zenith Bank Plc has announced the opening of a new branch in Manchester, United Kingdom, marking another significant milestone in the bank’s international growth and its commitment to strengthening financial connections between Africa and global markets.
The official opening ceremony, scheduled to hold on Tuesday, March 17, 2026, is expected to attract government officials from Nigeria and the United Kingdom, regulators, investors, customers, and business leaders from both countries, underscoring the growing economic ties and investment opportunities between the two markets.
The new Manchester branch will complement Zenith Bank’s existing operations in the United Kingdom and serve as a strategic hub for supporting businesses engaged in international trade and investment. Through the branch, the bank will provide corporate banking, trade finance, treasury and related financial services to clients operating across the United Kingdom, Europe and Africa.
Speaking ahead of the launch, the Group Managing Director/Chief Executive Officer of Zenith Bank Plc, Dame Dr. Adaora Umeoji, OON, said: “The opening of our Manchester branch represents another important step in Zenith Bank’s growth as a leading African financial institution connecting businesses and markets across continents. Manchester is one of the United Kingdom’s most dynamic commercial centres, and our presence here will further strengthen financial connections between businesses in the UK and opportunities across Africa’s rapidly expanding markets.”
Founded in 1990 by its Founder and Chairman, Jim Ovia, CFR, Zenith Bank has grown into one of Africa’s most respected banking institutions, boasting a robust capital base and a remarkable history of year-on-year profitability. Built on a strong foundation of people, technology and service, the Bank has consistently delivered innovative financial solutions while maintaining a disciplined approach to growth and risk management. The impressive performance of the Bank has consistently earned it excellent ratings, recognition and endorsement from local and international agencies and institutions.
Headquartered in Lagos, Nigeria, Zenith Bank operates over 500 branches and business offices across the 36 States of the Federation and the Federal Capital Territory (FCT). The Bank currently operates subsidiaries in several African countries including Ghana, Sierra Leone, Gambia, and Cote d’Ivoire, while maintaining a presence in major international financial centres including the United Kingdom, France, UAE and China. In recent years, Zenith Bank has continued to expand its international network as part of its strategy to support global trade and investment flows involving Africa.
Manchester, widely regarded as one of the United Kingdom’s most vibrant economic centres, hosts a diverse base of businesses across sectors such as manufacturing, engineering, logistics, technology and consumer goods. The city’s strong commercial ecosystem and international outlook align closely with Zenith Bank’s expertise in corporate banking, structured finance and trade finance.
The Manchester branch will work closely with the Bank’s London operations and its broader international network to support clients seeking to expand across markets and unlock new opportunities in both the United Kingdom and Africa.
With the opening of the Manchester branch, Zenith Bank continues to advance its vision of building a truly global African banking institution that connects businesses, facilitates trade and investment, and creates stronger economic bridges between Africa and the world.
Chairman Jim Ovia not linked to fake Wealth Bridge videos investment scheme — Zenith Bank
The Management of Zenith Bank Plc has advised the public to disregard videos circulating online linking the bank’s Group Chairman, Dr Jim Ovia, as endorsing an investment scheme known as Wealth Bridge.
The bank issued the warning in a disclaimer statement on Tuesday signed by its management addressed to debunk claims by fraudsters over Dubious video describing it as fake with no link to the Group Chairman
The commercial bank described the videos and promotional materials as fake and had nothing to do with the bank or its group chairman.
The bank further stated that the videos which circulated through the `Greece Island’ Facebook handle, promised prospective customers up to two million naira in weekly returns on a contribution of N380, 000 investment.
The bank however warned members of the public who conduct business with the entity that they are doing so at their own risk, as the commercial bank and its chairman has no link whatsoever with it, adding that the claim in the video, to the effect that it has the endorsement of the Central Bank of Nigeria, CBN, is untrue.
“The video redirects unsuspecting members of the public to an alleged Arise News webpage with the details of this scheme and an embedded registration portal for signups.
The statement titled: DISCLAIMER
Our attention has been drawn to a doctored video and still pictures currently circulating on social media, purporting to depict the Group Chairman of Zenith Bank Plc (“the Bank”) as endorsing an investment scheme called “Wealth Bridge” on the “Greece Island” Facebook handle and soliciting members of the public to engage in a business relationship with the so-called entity.
This claim is entirely false and has no connection whatsoever to the Group Chairman, the Bank or any of its affiliate companies.
This video makes a fake promise of up to N2 million in weekly returns on a contribution of N380,000 investment in the aforementioned project via a Facebook group. The video goes on to allege that the Central Bank of Nigeria (CBN) approves/endorses this said project. The video redirects unsuspecting members of the public to an alleged “Arise News” webpage with details of this “scheme” and an embedded registration portal for signups. This claim also is
entirely false and has no connection whatsoever to the Bank or its Group Chairman.
For the avoidance of doubt, all the videos and promotional materials referenced above are FAKE and have nothing to do with Zenith Bank Plc or Dr. Jim Ovia, CFR. The Group Chairman of Zenith Bank and the Bank have no knowledge of the said investment scheme and have not entered into any partnership with the companies, individuals, or platforms behind these schemes.
The general public is hereby advised to disregard these fraudulent communications. Anyone who engages with the “Greece Island” handle, “Wealth Bridge”, “delicious sitee”, “AfriQuantumX”, “Stock market analyst 1”
or any other entity on the basis of these fake videos and images published by
impostors does so strictly at his or her own risk.
JIM OVIA NAMED DOYEN OF THE NIGERIAN BANKING INDUSTRY AT THE NGX CLOSING GONG CEREMONY
Zenith Bank Plc‘s Founder and Chairman, Dr. Jim Ovia, CFR, accompanied by the bank’s Group Managing Director/CEO, Dame Dr. Adaora Umeoji, OON, on Tuesday, October 14, 2025, carried out the prestigious closing gong ceremony at the Nigerian Exchange (NGX), marking a significant milestone in the bank’s continued partnership with the capital market and the official closing of the trading day. The ceremony highlights Zenith Bank’s strong relationship with the NGX and its commitment to transparency, accountability, and bolstering investor confidence.
While speaking at the Nigerian Exchange, Dr. Umeoji expressed her delight in participating in the closing gong ceremony, acknowledging the NGX’s visionary leadership and innovative initiatives. “We are delighted to be here today to perform the closing gong ceremony – a symbol of shared progress and enduring partnership,” Dr. Umeoji said. “The NGX’s leadership has been very creative and innovative, and their electronic trading platform – X-stream played a pivotal role in the success of our recapitalization exercise, which achieved a 160% subscription. The bank’s stock price has doubled since the recapitalization exercise, from N36.50 per share to N68. Zenith Bank has also reported impressive financial results for the Half Year (H1) of 2025, becoming the most profitable bank in Nigeria and paying the highest dividend in the industry for the half year.”
“We are committed to creating value for our stakeholders and will continue to partner with the NGX to boost the Nigerian economy,” Dr. Umeoji added. “Our expansion strategy is focused on following our customers’ businesses and ensuring that we go to countries and economies where we can scale and provide more returns for our shareholders.”
She stressed that the bank plans to make good on its promise of being investors’ delight by paying quantum dividends to its shareholders by year end. According to her “For us in Zenith, we are looking forward to paying more based on the confidence the market reposed on us. We are working assiduously to ensure that we do not disappoint the Market. We are going to continue to be the investors’ delight, and we assure the market that we would continue to pay enhanced dividends come end of the year.”
Also commenting, the Director General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama emphasised the role of the NGX in creating value in the Nigerian economic space. He said, “I want to thank you all for making the market what it is. Without you, the market wouldn’t have seen the leap that it has achieved in the last one-and-half year. I spoke earlier that at my assumption of office, market capitalization stood at N55 trillion, today it is hovering around 89 trillion and 93 trillion. That was not done by a spirit, it was done by you. Your ability, tenacity, courage, vision and transparency have moved the market where it is. Our vision is that by next year, we will have the market at 200trn.”
The Doyen of the NGX, Alhaji Rasheed Yusuf while giving his remarks, lauded the Founder & Chairman, Zenith Bank Plc, Jim Ovia, CFR for his vision and leadership. He ended by referring to him as the “Doyen of the Commercial banking sector”.
Zenith Bank remains committed to creating long-term value for its stakeholders while driving economic development in Nigeria. As the bank continues on its growth trajectory, it has its sights set on global expansion. The bank intends to strategically leverage the capital raised from the Market to enhance its scalability and deliver enhanced services to its valued customers.
The Bank’s track record of excellent performance has continued to earn the brand numerous awards, including being recognised as the Number One Bank in Nigeria by Tier-1 Capital for the sixteenth consecutive year in the 2025 Top 1000 World Banks Ranking, published by The Banker and “Nigeria’s Best Bank” at the Euromoney Awards for Excellence 2025. The Bank was also awarded Bank of the Year (Nigeria) in The Banker’s Bank of the Year Awards for 2020, 2022 and 2024; Best Bank in Nigeria from 2020 to 2022, 2024 and 2025, in the Global Finance World’s Best Banks Awards; Best Bank for Digital Solutions in Nigeria in the Euromoney Awards 2023; and was listed in the World Finance Top 100 Global Companies in 2023.
Further recognitions include Best Commercial Bank, Nigeria for five consecutive years from 2021 to 2025 in the World Finance Banking Awards and Most Sustainable Bank, Nigeria in the International Banker 2023 and 2024 Banking Awards. Additionally, Zenith Bank has been acknowledged as the Best Corporate Governance Bank, Nigeria, in the World Finance Corporate Governance Awards for four consecutive years from 2022 to 2025 and ‘Best in Corporate Governance’ Financial Services’ Africa for four consecutive years from 2020 to 2023 by the Ethical Boardroom.
The Bank’s commitment to excellence saw it being named the Most Valuable Banking Brand in Nigeria in The Banker’s Top 500 Banking Brands for 2020 and 2021, Bank of the Year 2023 to 2025 at the BusinessDay Banks and Other Financial Institutions (BAFI) Awards, and Retail Bank of the Year for three consecutive years from 2020 to 2022 and 2024 to 2025 at the BAFI Awards. The Bank also received the accolades of Best Commercial Bank, Nigeria and Best Innovation in Retail Banking, Nigeria, in the International Banker 2022 Banking Awards.
Zenith Bank was also named Most Responsible Organisation in Africa, Best Company in Transparency and Reporting and Best Company in Gender Equality and Women Empowerment at the SERAS CSR Awards Africa 2024; Bank of the Year 2024 by ThisDay Newspaper; Bank of the Year 2024 by New Telegraph Newspaper; and Best in MSME Trade Finance, 2023 by Nairametrics. The Bank’s Hybrid Offer was also adjudged ‘Rights Issue/ Public Offer of the Year at the Nairametrics Capital Market Choice Awards 2025.
The association lauded the bank for setting a high standard in employee welfare and fostering productivity in the Nigerian financial sector.
Speaking on behalf of NASRE, the association’s President, Comrade Femi Oyewale, described Zenith Bank’s actions as a reflection of its commitment to its workforce and an exemplary display of corporate responsibility.
“Zenith Bank’s initiative to prioritize its employees’ welfare is a testament to its understanding of the critical role staff motivation plays in ensuring excellent service delivery,” Oyewale stated.
He further praised the bank for its broader business strategies, including its focus on innovation, sustainability, and corporate governance.
“Zenith Bank has consistently demonstrated that financial institutions can achieve exceptional growth while prioritizing their employees’ well-being and addressing sustainability challenges. This move will undoubtedly inspire other institutions to emulate their approach,” he added.
Under the leadership of Managing Director/CEO Dame Adaora Umeoji, Zenith Bank has also received several awards recognizing its exceptional performance and leadership in the financial sector. These include “Best Bank in Nigeria 2024” by Global Finance, “Biggest Bank in Nigeria by Tier-1 Capital 2024” by The Banker, and accolades for its commitment to corporate governance and sustainability.
Comrade Oyewale also highlighted the bank’s ongoing contributions to economic inclusion, SME development, and technological advancement, noting how these efforts positively impact communities and stakeholders alike.
“Zenith Bank’s integration of environmental, social, and governance principles into its operations has positioned it as a beacon of progress in the African banking landscape,” he remarked.
NASRE encouraged other corporate organizations to adopt similar employee-centered initiatives and commended Zenith Bank for setting a benchmark in corporate excellence.
Zenith Bank’s efforts, which include investments in renewable energy, sports, digital transformation, and impactful community initiatives, continue to strengthen its reputation as a leading financial institution in Africa.
ZENITH BANK SECURES REGULATORY APPROVAL FOR N350B RIGHTS ISSUE AND PUBLIC OFFER PROCEEDS
Zenith Bank Plc has raised a total of N350.4 billion through its recently concluded hybrid Rights Issue and Public Offer.
In a statement released to the Nigerian Exchange (NGX) Group on Sunday, January 26, 2025, the Bank announced that it has secured the full regulatory approval of the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC) in respect of its recently concluded Hybrid Offer, comprising of a Rights Issue of 5,232,748,964 Ordinary Shares of 50k each at N36.00 per share and Public Offer of 2,767,251,036 Ordinary Shares of 50k each at N36.50 per share.
The Public Offer was 160.47% subscribed, with a total of 4,440,587,250 Ordinary Shares allotted based on the terms of the Offer and the CBN’s Capital Verification Exercise. The Rights Issue was also 100.18% subscribed with a total 5,232,748,964 ordinary shares allotted.
Lauding the development, the Group Managing Director/Chief Executive of Zenith Bank Plc, Dame (Dr.) Adaora Umeoji, OON, said: “The success of our combined Rights Issue and Public Offering is a testament to the strong confidence and trust that our shareholders, investors, and stakeholders have in Zenith Bank’s vision, strategy, and brand. This landmark transaction underscores our commitment to strengthening our capital base, enhancing our competitive edge, and positioning ourselves for sustainable growth and profitability. We deeply acknowledge the invaluable and strong support of our regulators, the Central Bank of Nigeria and the Securities and Exchange Commission, and are grateful for their guidance in ensuring the integrity and efficacy of the exercise. This successful transaction will enable us to continue delivering value to our stakeholders, while also contributing to the growth and development of the economy.”
Proceeds from the Hybrid Offer will be strategically deployed to solidify the Bank’s position as the leading financial institution in Nigeria. Additionally, the funds will support the Bank’s expansion into other markets in Africa and Europe, investment in technology and other Group-wide growth initiatives.
The Offer, which opened on August 1, 2024 and closed on September 23, 2024 and sought to raise N290 billion through a combination of a Rights Issue and Offer for Subscription, was successfully executed largely as a digital Offer, embracing the power of technology to improve access to the equity capital market as it seamlessly leveraged the Nigerian Exchange Limited’s e-Offer platform.
The results of the Hybrid Offer, which garnered substantial interest from domestic and international investors, has positioned the Bank as one of the few banks in Nigeria to meet and even surpass the CBN’s N500 billion minimum capital requirements for Banks with International Authorization well ahead of the March 2026 regulatory deadline. The Bank’s share capital will now rise to N614.65 billion, which is N114.65 billion above the regulatory minimum requirement.
ZENITH BANK REINFORCES COMMITMENT TO STAFF WELLBEING THROUGH PAY RISE AND PROMOTIONS
One of Africa’s leading financial institutions, Zenith Bank has reaffirmed its dedication to employee welfare by announcing the promotion of over 4,000 staff members and implementing salary increases ranging from 20% to 30% across various employee grades.
This bold initiative, under the leadership of Managing Director/CEO Dame Adaora Umeoji, its aimed at boosting staff morale and productivity.
With over 8,000 employees, this significant investment in human capital reflects Zenith Bank’s belief that its workforce is its most valuable asset. The salary adjustments, effective January 1, 2025, aim to reward performance, alleviate financial pressures, and ensure enhanced customer service delivery. Promotions for top management are also expected as part of the bank’s ongoing commitment to excellence and growth.
Dr. Umeoji emphasized the importance of maintaining a motivated workforce, stating that the bank’s dedication to its employees will translate into superior service experiences for customers. She highlighted the organization’s commitment to setting industry benchmarks through innovative solutions and exceptional service delivery.
Zenith Bank’s continued leadership in the Nigerian financial sector is underscored by numerous awards, including Best Bank in Nigeria 2024 by Global Finance and recognition as the Biggest Bank in Nigeria by Tier-1 Capital in 2024 by The Banker. These accolades complement its reputation for innovation, sustainability, and corporate governance.
By prioritizing employee welfare during challenging times, Zenith Bank not only strengthens its internal operations but also sets a standard for other financial institutions in the region, reinforcing its position as a leader in Africa’s banking landscape.
As a major player in Nigeria’s financial landscape, under its managing director/chief executive officer, Adaora Umeoji, the bank has embraced a holistic approach to growth that integrates environmental, social and governance (ESG) principles with its core business objectives.
At the heart of Zenith Bank’s strategy is a focus on buoying economic inclusion, supporting small and medium-sized enterprises (SMEs) and driving technological innovation to enhance customer experiences. The bank’s proactive investments in renewable energy, sports, digital transformation and impactful community initiatives exemplify its dedication to creating long-term value for its stakeholders while addressing global sustainability challenges.
Zenith Bank’s continued success is driven by a combination of strong financial performance and an unwavering commitment to its stakeholders.
Zenith Bank’s growth trajectory is underpinned by a robust expansion strategy. With operations in several countries, including the UK, UAE, China, and most recently, France, the bank continues to expand its geographical footprint.
As usual, the bank’s efforts in 2024 did not unnoticed as the lender clinched several local and international awards in recognition of its outstanding performance.
In 2024, the bank won the Best Bank in Nigeria at the annual Global Finance award in Washington, DC, NY.
The bank also emerged the Biggest Bank in Nigeria by Tier-1 Capital, 2024 by The Banker; Best Commercial Bank, Nigeria 2024 – World Finance; Best Corporate Governance, Nigeria 2024 – World Finance; Most Sustainable Bank, Nigeria 2024 – International Banker; Bank of the Year, 2024 – Business Day; Retail Bank of the Year, 2024 – Business Day; Bank of the Year 2024- The Banker.
It also clinched the Most Responsible Organization in Africa 2024 – SERAS; Best in Gender Equality & Women Empowerment 2024 – SERAS and Best in Transparency & Reporting 2024 – SERAS
Zenith Tech Fair 4.0 Concludes with Hackathon Winners Awarded ₦77.5M in Cash Prizes
L-R: Founder/Director, Nistad Limited, Ada Jabaru; Director-General/CEO, NIMC, Engr. Bisoye Coker-Odusote; Special Adviser to the President on Economic Matters, Dr. Tope Fasua; Partner, Africa, AI & Data Leader, Deloitte, Jania Okwechime; Founder & Chairman, Zenith Bank Plc, Jim Ovia, CFR; Group Managing Director/ Chief Executive, Zenith Bank Plc, Dame (Dr.) Adaora Umeoji, OON; Global Expert on AI, Danilo McGarry; Strategy & Digital Implementation Specialist, Robin Speculand; and the Honourable Commissioner for Science, Innovation & Technology, Lagos State, Mr. Olatunbosun Alake during the Zenith Tech Fair 4.0 held at Eko Convention Centre, Eko Hotels & Suites, Victoria Island, Lagos, yesterday.
The Fourth Edition of the Zenith Bank organized Zenith Tech Fair, themed “Future Forward 4.0: Embedded Finance, Cybersecurity & Growth Imperatives – The Impact of AI,” concluded on Thursday, November 21, 2024, at the Eko Convention Centre, Eko Hotels & Suites, Victoria Island, Lagos. The event culminated in a highly competitive hackathon, where 10 finalists emerged from over 1,700 contestants to share a total prize pool of ₦77.5 million.
Hackathon Highlights and Winners
Grand Prize Winner: JumpnPass, a self-checkout technology transforming Africa’s retail sector, claimed the top prize of ₦25 million. In addition, they earned a six-week mentorship and incubation program running from December 2024 to February 2025.
First Runner-Up: CreditChek, leveraging AI and open banking for income and credit history verification, secured ₦20 million alongside a mentorship program.
Second Runner-Up: Salad Africa, which integrates credit products for digital platforms, won ₦15 million and mentorship support.
Other Finalists: Regxta, CashAfrica, Middleman, Messenger, Pocketfood, Famasi Africa, and Kitovu each received ₦2.5 million.
Zenith Bank’s Commitment to Innovation
In her welcome address, Dame (Dr.) Adaora Umeoji, OON, Group Managing Director/CEO of Zenith Bank Plc, praised Founder and Chairman Dr. Jim Ovia, CFR, for his vision in establishing the Zenith Tech Fair. She emphasized the importance of nurturing young innovators, stating,
“This initiative aims to produce the likes of Bill Gates, Mark Zuckerberg, and Steve Jobs. With 70% of Nigeria’s population being youth, this economic asset must be harnessed effectively.”
Dr. Umeoji highlighted innovation as a critical driver for sustaining institutions, stressing that companies failing to innovate risk obsolescence.
Lagos State Governor Advocates Global Business Outlook
His Excellency, Mr. Babajide Sanwo-Olu, Governor of Lagos State, underscored the importance of global competitiveness, stating, “We must enhance our products and services to serve not just local but global markets. Platforms like Zenith Tech Fair reassure us of the government’s readiness to support innovative ideas.”
Event Features and Presentations
The fair launched Zenith Bank’s EazyByZenith, a digital wallet aimed at driving financial inclusion. It also showcased cutting-edge advancements in Artificial Intelligence, Cybersecurity, Cloud Computing, and Financial Intelligence.
Keynote Speaker: Robin Speculand, a global authority on digital strategy, delivered a keynote address titled “Banking Transformation in a Digital World.”
Panel Discussions: Led by Wole Odeyele from Microsoft Inc., the panel featured top industry experts such as Funke Opeke, Dr. Auwal Adam Sa’ad, and Engr. Bisoye Coker-Odusote.
Zenith Bank Startup Pitch Competition
The Zenith Bank startup pitch competition fosters innovation across sectors like Embedded Finance, HealthTech, Agritech, and Fintech. The program provides Nigerian startups a platform to showcase groundbreaking ideas and access resources to scale their businesses.
The Zenith Tech Fair 4.0 was hailed as a resounding success, setting the stage for an even bigger Fifth Edition in 2025.
