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Details: Outgoing Zenith Bank GMD, Onyeagwu Backs Successor, Umeoji To Achieve Greater Feats




After 5 years in the saddle, Ebenezer Onyeagwu is exiting as the Chief Executive Officer – and Group Managing Director – of Zenith Bank.

Onyeagwu is leaving on a very high note with Zenith Bank recording the highest dividend payout by any bank for the 2023 financial year.

Shareholders approved a dividend payment of NGN3.50 per share, bringing the total dividend for the 2023 financial year to NGN4.00 per share, with a total value of NGN125.59 billion,

This development is in the face of an astonishing 60 awards won by Zenith Bank, home and abroad, in four years – as of December 2023 – with Onyeagwu as Chief Executive Officer.

The Awards include 29 international and 12 continental recognitions.

Onyeawgu who has started what he described as “the mandatory regulatory cooling-off period” is backing his successor, Adora Umeoji to achieve greater feats.

Ebenezer Onyeagwu, Jim Ovia and Adaora Umeoji

“As I prepare to pass the baton to Dame (Dr) Adaora Umeoji, OON, I am confident in the bank’s trajectory under her leadership… I am filled with optimism for Zenith Bank’s future, assured that we are on the path to even greater success.”  ” Onyeagwu told stakeholders at the 33rd Annual General Meeting (AGM) of Zenith Bank on Wednesday, May 8, 2024.

The event was held at the Civic Centre, Victoria Island, Lagos state.

Umeoji whose appointment was announced on March 19. 2024, will assume office as Zenith Bank’s first female Managing Director and Chief Executive on June 1, 2024.

 With about thirty (30) years of cognate banking experience to her name, Umeoji has been Deputy Managing Director of the bank since October 28, 2016.

Outgoing Managing Director Onyeawgu at the 33rd Annual AGM on Wednesday expressed profound gratitude to Zenith Bank’s Founder and Chairman, Dr Jim Ovia; the board, shareholders, customers, and staff for their steadfast support throughout his tenure adding that “I earnestly request that you extend the same level of support to my successor”.

Onyeagwu who became the Chef Executive Officer at Zenith Bank on June 1, 2019 praised the collective effort that made his tenure a huge success with the assertion that ” It has been a remarkable journey, and I am immensely proud of what we have accomplished together”.