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Stanbic IBTC Holdings Shareholders Excited By Dividend Payments, Bonus Shares Allotment
Stanbic IBTC Holdings PLC, a member of Standard Bank Group, on Thursday, 27 May 2021 held its 9th Annual General Meeting (AGM) to adopt the company’s audited financial statements for the 2020 financial year amongst other resolutions. The AGM held by proxy in line with the NCDC COVID-19 guidelines.
The highlight of the AGM was the declaration that a dividend of 360 kobo per ordinary share of 50 kobo be paid to shareholders as recommended by the Board of Directors. The shareholders were further allotted one bonus share for every six ordinary shares held by them.
Announcing the resolution, Mr. Chidi Okezie, Company Secretary and Head, Country Legal Services of Stanbic IBTC Holdings PLC said: “Pursuant to Section 430, sub-section 2 and 3 of the Companies and Allied Matters Act 2020, and following a recommendation by the Board of Directors of the company, the sum of N925,499,797.50 is set aside out of the company’s general reserves, be capitalised, and the same be applied in paying in full for 1,850,999,595 ordinary shares of 50 kobo each, in the capital of the company, and such ordinary shares be allotted and credited as fully paid up, and issued to shareholders who are on the register of members as at close of business on Thursday, 10 June 2021, in the proportion of one (1) new ordinary share for every six (6) existing ordinary shares held by them in the capital of the company as at close of business 10 June 2021 . The shares so distributed will rank at the same rate with existing ordinary shares, subject to receipt of all required regulatory approvals.”
Mr. Tunde Bamidele, a shareholder, appreciated the Board and Management of Stanbic IBTC for the steadfastness, hard work and dedication, which resulted in the N83 billion profit after tax for the 2020 financial year, and culminated in the 360 kobo dividend and allotment of bonus shares.
He said: “I would like to express my gratitude to the Board of Directors, Management and members of Staff of Stanbic IBTC for a job well done. Despite the COVID-19 pandemic, the company declared a dividend of 360 kobo which is very impressive compared to other players in the financial industry. I would also like to thank you for giving us a bonus share for every six shares held. Indeed, the bonus dividend is robust.”
Mr. Kunle Adedeji, Ms. Ngozi Edozien and Ms. Salamatu Suleiman were re-appointed as Directors, and Mrs. Sola David-Borha, immediate past Chief Executive, Africa Regions, Standard Bank Group, was appointed as a Non-Executive Director.
Other resolutions which were ratified at the 9th Annual General Meeting were the election of members of the Audit Committee, the fixing of Director’s Fees and the approval of new external auditors for Stanbic IBTC Holdings PLC.
At the AGM, KPMG Professional Services having served as the Group’s external auditors for the past ten (10) years formally retired as Auditors to the Group in accordance with section 5.2.12 of the Central Bank of Nigeria Code of Corporate Governance, which stipulates a maximum tenure of ten (10) years for external auditors. PricewaterhouseCoopers was thereafter appointed as the new external auditor for the Group.
Mr. Basil Omiyi, Chairman of the Stanbic IBTC Holdings PLC, commended the Group’s management on an impressive result despite operating in a tough environment. He said: “The Board is very happy with what the Management has been doing. We pass most of the commendation to our very efficient and able Management team who have delivered impressive results despite operating under difficult circumstances.”
Dr. Demola Sogunle, Chief Executive, Stanbic IBTC Holdings PLC, reiterated the Management’s commitment to sustaining the high standards that have earned the Group several commendations and awards, including the highest level of ratings by globally recognised rating agencies. He said: “We would continue to work very hard to sustain our high level of ratings by globally renowned rating agencies. We also pledge to continue adhering to regulatory guidelines, while also making improvements in the areas of performance, corporate governance, risk management, quality of workforce and succession planning.”
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ZENITH BANK APPOINTS KENNEDY OKWUDILI AS EXECUTIVE DIRECTOR
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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).
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ZENITH BANK EXPANDS GLOBAL NETWORK WITH NEW MANCHESTER BRANCH
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.
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ZENITH BANK SET TO HOST 2026 INTERNATIONAL WOMEN’S DAY SEMINAR IN LAGOS
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Zenith Bank Plc will commemorate the 2026 International Women’s Day with a renewed call to purposeful action and leadership. As part of preparations to celebrate this significant occasion, the Bank is set to hold its annual International Women’s Day Seminar on Monday, March 9, 2026, at The Civic Centre, Victoria Island, Lagos.Aligned with the global theme ‘Give to Gain” which underscores the principle that sustainable progress is achieved when individuals and institutions invest intentionally in women, Zenith Bank’s 2026 IWD seminar is themed “Take It, You Own It.” The theme reflects the Bank’s belief that while institutions must give through enabling environments and equitable systems, women must also step forward to claim space, own their value, and lead with confidence. It is both an affirmation and a challenge: embrace opportunity, empower yourself and others, and take ownership of your growth journey.Building on the success of previous seminars, including the 2025 edition themed “Winning On All Fronts”, Zenith Bank’s 2026 programme is designed to deepen meaningful engagement around women’s empowerment, leadership, and sustainable impact. Over the years, the Bank’s International Women’s Day initiatives have brought together women leaders, professionals, entrepreneurs, and emerging talents for dynamic dialogue, inspiration, and shared learning around gender equity, professional growth, and inclusive opportunity.More than a commemorative gathering, the 2026 seminar is designed as a convergence of influence, insight, and inspiration, bringing together accomplished women and progressive leaders across business, governance, creative industries, technology, and social impact.Speaking ahead of the Seminar, the Group Managing Director/CEO, Dame Dr. Adaora Umeoji, OON, who will deliver the welcome address, said “The International Women’s Day is a reminder that progress requires intentionality. ‘Give to Gain’ speaks to the responsibility institutions have to create real opportunities, while our theme ‘Take It, You Own It’ challenges women to step forward boldly and lead. At Zenith Bank, we are deliberate about building environments where women are supported to grow, thrive, and shape outcomes, not only within our institution but across the communities and industries we serve.”The seminar will include segments focused on leadership insight, professional empowerment, wellbeing, and collaboration, offering attendees opportunities to engage deeply with thought leadership and practical strategies for advancing equity. With a carefully curated programme spanning keynote addresses, panel conversations, Q&A sessions, and creative interludes, Zenith Bank’s 2026 International Women’s Day Seminar promises to be a catalyst for meaningful action.Through its alignment with “Give to Gain” and its bold seminar theme, “Take It, You Own It,” Zenith Bank reaffirms its belief that when institutions give intentionally and women lead confidently, entire ecosystems rise. As conversations around inclusion continue to shape the future of business and society, the Bank remains resolute in its mission to foster platforms where women’s potential is recognised, amplified, and fully owned.
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