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SHAREHOLDERS ARE EXCITED AS ZENITH BANK PAYS N97.33 BILLION AS DIVIDEND
Shareholders of Zenith Bank Plc, at the 31st Annual General Meeting (AGM) of the bank held on Wednesday, April 6, 2022, at the Civic Centre, Victoria Island, Lagos, unanimously approved the proposed final dividend, expressing delight at the final dividend payment of NGN2.80 per share which brings the total dividend for the 2021 financial year to NGN3.10 per share with a total value of NGN97.33 billion.
In his statement, the Founder and Chairman of Zenith Bank Plc, Mr. Jim Ovia, CON, thanked the shareholders for their unflinching loyalty, which has enabled the bank to rise to the pinnacle of the nation’s financial services industry, and assured them of the bank’s commitment to consistently deliver superior value to them.
Speaking on the bank’s performance, the Group Managing Director/Chief Executive, Mr. Ebenezer Onyeagwu, said: “if you look at the bank’s history over the years, Zenith Bank has always grown, and even within the pandemic, we have maintained a reasonable positive growth trajectory. Growth is coming from the fact that we are deploying our digital capability to grow more businesses, simplify our service processes, make our processes more efficient, and deal with customers’ complaints. Apart from developing new products, we are discovering new business verticals, especially within the retail segment, which have significant revenue.” He added that: “meeting the expectation of shareholders means we have to work harder. The team is dodged, hardworking, resilient, and above all, we have a very supportive board that comes with superior guidance”.
Commenting on the dividend payout, the Chairman Emeritus of the Independent Shareholders Association of Nigeria (ISAN), Sir Sunny Nwosu, expressed the delight of shareholders over the consistent payment of dividends by Zenith Bank, noting that the bank’s shares remain the toast of investors because the bank has never failed to pay dividends to shareholders.
Also speaking on behalf of shareholders, the President of the Association of the Rights of Nigerian Shareholders (AARNS), Dr Faruk Umar, said: “The bank is doing very well. All the ratios and indices have gone up. And more importantly, while we were in the meeting, I got my alert of the credit of my dividend. This is very commendable. The leadership of the bank has been very effective; we thank Jim Ovia for the leadership he has been giving, he has increased the dividend in spite of the economic hardship in the country, and I believe the GMD is doing very well. I commend the management and staff of the bank, including the board, and I am very confident that this year would also be very good for the bank.” Dr Faruk Umar also commended the Group Managing Director for the numerous awards the bank received in 2021, especially the sustainability awards.
In spite of a challenging macroeconomic environment aggravated by the COVID-19 pandemic, the Zenith Bank Group achieved year-on-year (YoY) growth in gross earnings of 10% from NGN696.5 billion reported in the previous year to N765.6billion. This was on the back of a 23% YoY growth in non-interest income from N251.7billion to N309billion and a 2% YoY growth in interest income from N420.8billion to NGN427.6billion.
Profit before tax also grew by 10%, from NGN255.9 billion to NGN280.4 billion in the current year. The increase was due to growth in the top-line and very strong management of the treasury portfolio that increased efficiency, resulting in a drop in interest expense by 12% from NGN121.1 billion in 2020 to NGN106.8 billion in the current year. This further led to a 7% increase in net interest income of NGN320.8 billion in 2021 from NGN299.7 billion in 2020.
Customer deposits increased by 21%, growing from NGN5.34 trillion in the previous year to NGN6.47 trillion in the current year. The growth in customer deposits came from both corporate and retail customers. Retail deposits grew by NGN146 billion from NGN1.72 trillion in 2020 to NGN1.87 trillion in 2021. The Group’s continuous drive for retail deposits combined with the strategic rebalancing of its funding base helped to reduce the cost of funding from 2.1% to 1.5% in the current year. Although operating expenses grew by 13% YoY, growth remains below the inflation rate, and the Group improved its Earnings per Share (EPS) which grew by 6% from NGN7.34 to NGN7.78.
Total assets increased by 11%, growing from NGN8.48 trillion in 2020 to NGN9.45 trillion in 2021, mainly driven by growth in customer deposits. With the steady recovery in economic activities, the Group prudently grew its gross loans by 20%, from NGN2.9 trillion in 2020 to NGN3.5 trillion in 2021, with moderated NPL ratio from 4.29% to 4.19% YoY. The Group recorded impressive liquidity and capital adequacy ratios of 71.6% and 21.0%, which remained above regulatory thresholds of 30% and 15%, respectively.
In recognition of its track record of excellent performance, Zenith Bank was voted as Best Commercial Bank in Nigeria in the World Finance Banking Awards 2021, Best Bank in Nigeria in the Global Finance World’s Best Banks Awards 2020 and 2021, Bank of the Year (Nigeria) in The Banker’s Bank of the Year Awards 2020, and Best in Corporate Governance ‘Financial Services’ Africa 2020 and 2021 by the Ethical Boardroom. Also, the bank emerged as the Most Valuable Banking Brand in Nigeria in the Banker Magazine Top 500 Banking Brands 2020 and 2021, Number One Bank in Nigeria by Tier-1 Capital in the “2021 Top 1000 World Banks” Ranking by The Banker Magazine and the Retail Bank of the year at the BusinessDay Banks and Other Financial Institutions (BOFI) Awards 2020 and 2021.
Similarly, Zenith Bank was honoured as Bank of the Decade (People’s Choice) at the ThisDay Awards 2020 and emerged winner in four categories at the Sustainability, Enterprise, and Responsibility (SERAS) Awards 2021, carting home the awards for “Best Company in Reporting and Transparency”, “Best Company in Infrastructure Development”, “Best Company in Gender Equality and Women Empowerment”, and the coveted “Most Responsible Organisation in Africa.
Every December in Nigeria is a whole mood. The harmattan breeze and the Christmas themed red and white decorations all over the cities and towns; the cousins returning from the UK, US and Europe with “I just came back” stamped on their accents — and of course, the unmissable lineup of street carnivals, concerts, plays, and festivals that keep Lagos, Abuja, Warri and Port Harcourt buzzing deep into the New Year. Since its launch, FirstBank’s “DecemberIssaVybe” (DIAV) campaign has stood at the centre of this cultural energy, giving Nigerians more than just access to premium entertainment — it’s been about creating awesome shared moments, uniting families, and giving the creative industry the big boost it deserves.
For almost a decade, DIAV has quietly shaped the last few months of the year especially December as the season of vibe, through its First@arts initiative, and if you’ve ever danced shoulder-to-shoulder with thousands at a FirstBank-sponsored event, you’ll know exactly what that means.
2018: When the Vybe Began
December 2018 felt different. Nigerians were beginning to embrace “Detty December” as a tradition, and FirstBank cleverly caught the wave. The bank rolled out DecemberIssaVybe with free and discounted tickets to mega concerts and stage plays, pulling crowds that wanted premium vibes without premium stress. Wizkid, Davido, Burna Boy were headlining the big music festivals, while stage productions like “Moremi the Musical” got a new audience thanks to FirstBank’s push.
For the over 130-year-old FirstBank, “DecemberIssaVybe is a way of giving back during the festive season. It’s not just about music or theatre; it’s about connecting people, supporting the creative industry, and ensuring families make memories together.
Families who hadn’t been to the theatre in years found themselves seated side by side at Terra Kulture, watching Nigerian history come alive on stage. And for diaspora kids back home with “I just came back” energy? DIAV became their shortcut into Nigeria’s hottest events.
2019: The Year of Mega Concerts
By 2019, the Vybe was unstoppable. DecemberIssaVybe became synonymous with front-row seats at Davido’s “A Good Time” concerts, Kizz Daniel’s explosive Lagos show, and of course, the unforgettable Wizkid Starboy Fest. But it wasn’t just music. DIAV sponsored families into “Mad About You”, a romantic stage play that had couples rediscovering love, and rolled out tickets to AY Live Comedy Show, proving that December isn’t just about music — it’s about laughter too. By year’s end, DIAV had cemented itself as a December passport.
2020: The Pandemic Pause
2020 was strange for everyone. COVID-19 clipped the wings of live entertainment. But even then, FirstBank didn’t fold its arms. DIAV adapted by sponsoring virtual concerts and livestreamed plays, ensuring families could still bond over art and entertainment from the safety of their homes. It wasn’t the usual sweaty concert hall, but for many, DecemberIssaVybe campaign was proof that even in tough times, music and theatre are powerful connectors.
2021: The Big Comeback
With restrictions easing, Nigerians were desperate for a proper December. DIAV answered in full colour. Imagine a December where Adekunle Gold (AG Baby) sang his heart out at sold-out shows, Simi serenaded lovers, and Fireboy lit up the stage with “Peru” before it became an international anthem.
Families returned to KAKADU the Musical, friends reunited at comedy festivals, and for diasporans who hadn’t been home since 2019, the Vybe was a welcome mat rolled out in sound and laughter.
2022: The Golden Year
By 2022, DIAV wasn’t just an add-on to December, it was the main dish. That year, Asake’s breakout concerts shook Lagos, Burna Boy’s Love, Damini show was an electric storm, and the theatre scene — from The King Must Dance Naked to Awo The Musical — had DIAV stamping tickets for culture lovers.
2023: A Night of Queens
DecemberIssaVybe 2023 brought something fresh to the table with “A Night of Queens”, an all-female musical showcase at Eko Convention Centre. It was a dazzling lineup: Tiwa Savage, Simi, Teni, Yemi Alade, Waje, Niniola and Dope Ceaser all shared the stage in one unforgettable night of music.
FirstBank also sponsored the revival of Kakadu the Musical at MUSON Centre — a play that blends highlife, Afrobeat, soul and pop with the turbulent history of 1960s Nigeria. Meanwhile, families trooped out for Ali Baba’s January 1st concert and Basketmouth Unprovoked, while diaspora returnees shared DIAV tickets proudly on Instagram.
2024: From Comedy to Culture
Last December opened with a bang: Kenny Blaq’s Reckless Musicomedy Festival at Onikan Stadium. The crowd roared as Kenny Blaq, DJ Neptune, Aproko, MC Monica, and OvyGodwin delivered a high-energy mix of music and stand-up.
At the same time, FirstBank sponsored Motherland the Musical, Street Souk at Harbour Point, A True Christmas Story, and family-friendly events like Eko Hotel Pride Land Adventures and the Calabar Carnival Festival.
Reflecting on the season, Olayinka Ijabiyi, Acting Group Head, Marketing and Corporate Communications said: “FirstBank is facilitating memorable homecoming and unforgettable experiences in December with family reunions, concerts and festivals. DecemberIssaVybe isn’t just about entertainment — it’s about the cultural glue for Nigerians everywhere.
Across the years, DIAV has done more than hand out tickets. It has fuelled the creative economy by investing in theatre, comedy, and music. Families and friends have been reunited, turning concerts into bonding sessions. Given the diaspora a homecoming anchor, it has blended the “I just came back” energy with Nigerian hospitality.
In a country where December is both the busiest and most joyful month, DIAV has positioned FirstBank not just as a financial giant, but as a lifestyle brand that understands culture.
2025: The Vybe Is Loading
Now here we are, on the cusp of another December. Whispers are already flying: who will headline the 2025 DecemberIssaVybe experience? Will it be another electrifying Davido Timeless Experience? Will Asake shut down Lagos again? Will Burna Boy, Rema, Tems, or Ayra Starr bring home the global magic? Or will DIAV surprise everyone with a mix of music legends and fresh new voices?
What’s certain is that FirstBank will once again hold the keys to the hottest tickets in town — concerts, fashion, culture, musicals, plays, comedy shows — all to be rolled out on their social media handles, where lucky fans can get premium access.
So, whether you are keeping it real in Naija or you are planning to visit, DecemberIssaVybe 2025 is coming, and FirstBank is about to make it unforgettable.
By Bolaji Israel
brand
Access Bank Appoints Mr. Innocent Ike As Substantive GMD/CEO, Recognises Contributions Of Ms Bolaji Agbede As Acting CEO
Access Holdings (‘Access Holdco’ or ‘the Company’) today announces the appointment of Mr. Innocent Ike as the substantive Group Managing Director/Chief Executive Officer of the Company, effective August 29, 2025, following the receipt of regulatory approval.
brand
ZENITH BANK MARKS 35 YEARS ANNIVERSARY IN GRAND STYLE, RECOGNISES PIONEER CUSTOMERS AND LONG-SERVING STAFF
L-R: Representative of the Nigerian First Lady and Secretary to the Lagos State Government, Barr. Bimbola Salu-Hundeyin; Chief of Staff to Ekiti State Governor, Mr. Adeniyi Adebayo; Group Managing Director/CEO, Zenith Bank Plc, Dame Dr. Adaora Umeoji, OON; Governor of Lagos State, Mr. Babajide Sanwo-Olu; Wife of the Founder & Chairman of Zenith Bank Plc, Mrs. Kay Ovia; Vice President, Federal Republic of Nigeria, Senator Kashim Shettima, GCON; Founder & Chairman, Zenith Bank Plc, Jim Ovia, CFR; Governor of Borno State, Prof. Babagana Zulum; Governor of Ondo State, Mr. Lucky Aiyedatiwa; Deputy Governor of Osun State, Prince Kola Adewusi; Chairman of Access Holding Plc, Mr. Aigboje Aig-Imoukhuede, CFR; Minister of Industry, Trade & Investment, Dr. Jumoke Oduwole; and the Publisher of Thisday Newspaper, Prince Nduka Obaigbena at the Zenith Bank 35th Anniversary and Chairman’s Dinner held at Eko Hotel & Suites, Victoria Island, Lagos, at the weekend.
Amidst pomp and pageantry layered with a mixture of glitz and glamour, Zenith Bank Plc marked its 35th year anniversary with a commemorative Chairman’s Dinner at the Eko Convention Centre, Eko Hotels & Suites, Victoria Island, Lagos on Friday, August 15, 2025. In recognition of their immense contributions to the success of the brand, the bank also presented commemorative awards and plaques to pioneer customers and long-serving staff, who have served meritoriously for 25 years and above. The ceremony brought together key stakeholders of the bank including customers, staff (past and present), regulators, partners, and friends, who all came together to celebrate 35 years of excellent and innovative banking services that has propelled the banking giant to the peak of Nigeria’s financial industry. Among the eminent personalities who graced the occasion were the Vice President, Federal Republic of Nigeria, Senator Kashim Shettima, GCON; Governor of Lagos State, Mr. Babajide Sanwo-Olu; Governor of Ondo State, Mr. Lucky Aiyedatiwa; Governor of Taraba State, Dr. Agbu Kefas; Governor of Borno State, Prof. Babagana Zulum; Governor of Delta, Rt. Hon. Sheriff Oborevwori, who was ably represented by the Deputy Governor, Sir. Monday Onyeme; Alhaji Aliko Dangote, GCON; and former governors Peter Obi and Udom Emmanuel (also an alumnus of Zenith Bank).In her welcome address, the Group Managing Director/ Chief Executive of Zenith Bank Plc, Dame Dr. Adaora Umeoji, OON applauded the Founder and Chairman, Jim Ovia, CFR for his foundational role in building the structures for what has today become a shining example of excellence in the Nigerian banking industry and a globally recognised financial institution. She described him as “the Godfather of modern banking and the Nostradamus of our time, who through sheer tenacity, foresight, and uncompromising integrity transformed a modest vision into the financial powerhouse we celebrate today”.In his goodwill message, the Vice President, Federal Republic of Nigeria, Senator Kashim Shettima, GCON, a proud alumnus of the bank, praised the Founder and Chairman of Zenith Bank Plc, Jim Ovia, CFR for being at the heart of the very successful brand that today stands as Nigeria’s largest bank by Tier-One capital. According to him, “Long before technology became the bloodstream of global finance, Jim Ovia had already woven it into the DNA of Nigerian banking industry. He introduced innovation not as a fashion but as a philosophy, placing Zenith Bank on a path where excellence is not an ambition but a standard. Yet his true signature is not only on the balance sheet. For Jim Ovia, the people make an institution. His greatest investment has been in human capital – in transferring his experience and sense of adventure to generation after generation of bankers and investors forged at Zenith Bank”.
Also speaking at the event, the Founder and Chairman of Zenith Bank, Jim Ovia, CFR expressed its immense appreciation to all guests for joining the bank in celebrating this momentous occasion. He thanked the bank’s esteemed customers and shareholders for their trust, confidence and shared vision; the regulators, for their guidance over the years; his friends and partners, for being a constant source of strength; the Zenith Bank family led by the exceptional Group Managing Diector/CEO, Dame Dr. Adaora Umeoji, OON, for their loyalty and commitment; and his beloved wife and family for their love and support.Founded in May 1990, Zenith Bank has grown from humble beginnings into one of Africa’s leading financial institutions with branches across the 36 states of the federation and the FCT, Abuja as well as subsidiaries in the United Kingdom, Ghana, Sierra Leone, Gambia, France, UAE and a representative office in China.
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