brand
ZENITH BANK SET TO RAISE N290 BILLION CAPITAL THROUGH RIGHTS ISSUE AND PUBLIC OFFER
R – L: Executive Director, Zenith Bank Plc, Mr. Louis Odom; Executive Director, Mr. Akin Ogunranti; Chief Executive, Stanbic IBTC Capital Limited, Mr Oladele Sotubo; Group Managing Director/Chief Executive, Zenith Bank Plc, Dame (Dr.) Adaora Umeoji, OON; Company Secretary, Mr. Micheal Otu; Executive Director, Stanbic IBTC Capital Limited, Mrs Oyindamola Akinyemi; Executive Director, Mr. Henry Oroh; Executive Director, Mrs. Adobi Nwapa; and Executive Director, Mr. Adamu Lawani during the Zenith Bank Capital Raising Signing Ceremony at the Civic Centre, Victoria Island, Lagos, yesterday.
Zenith Bank Plc is set to raise N290 billion through a combination of a Rights Issue and a Public Offer in compliance with the revised minimum capital requirements for Nigerian commercial banks introduced by the Central Bank of Nigeria (CBN). This announcement was made during the Zenith Bank Rights Issue/Public Offer Signing Ceremony held yesterday, July 29, 2024, at The Civic Centre, Victoria Island, Lagos. This event marks a significant milestone in the bank’s previously announced capital-raising programme, aimed at bolstering its capital base and supporting its growth trajectory across its banking and non-banking subsidiaries.The Rights Issue offers 5,232,748,964 ordinary shares of 50 Kobo each at N36.00 per share, while the Offer for Subscription presents 2,767,251,036 ordinary shares of 50 Kobo each at N36.50 per share. The Rights Issue affords existing shareholders the opportunity to purchase additional shares in proportion to their current holdings and is being offered on the basis of one new ordinary share for every six existing ordinary shares held as of Wednesday, July 24, 2024. Conversely, the public offer for subscription is open to the general public and aims to attract new investors.Speaking at the signing ceremony, the Group Managing Director/CEO of Zenith Bank Plc, Dame (Dr.) Adaora Umeoji, OON, expressed enthusiasm about the Rights Issue and Public Offer, stating, “Today, we signed the transaction documents with respect to Zenith Bank’s N290 billion Rights Issue and Public Offer. This is slightly above the N230 billion required for us to meet the CBN’s minimum recapitalisation requirement. We are extremely pleased with the level of enthusiasm we have already seen from our existing shareholders for the Rights Issue. Beyond existing shareholders, incorporating a public offer is crucial to ensure that our customers, who are not yet shareholders, can have the opportunity to join in the ownership of this premium brand.“In terms of Tier-1 Capital, Zenith Bank has been adjudged by The Banker, Financial Times to be number one in Nigeria and the only Nigerian Bank in the top 600 banks globally. Over the years, we have consistently rewarded our esteemed shareholders. Specifically, in the last five years, we have maintained the record as the highest dividend-paying Bank in Nigeria. In 2023, we set a record as the only Nigerian Bank to pay a dividend of N4 per share.” She added that the proceeds from the capital raise will be channelled towards expanding banking operations across Africa and internationally, investing in technology infrastructure, and supporting working capital on an ongoing basis. She expressed optimism that given Zenith Bank’s track record of profitability and consistency in creating wealth for shareholders, the capital raise will be a resounding success. She assured prospective investors that Zenith Bank will maintain its leadership in dividend payout in the years ahead and encouraged them to invest in value and invest in Zenith Bank. She also expressed her profound gratitude to the Founder and Chairman, Dr. Jim Ovia CFR, whose vision over 34 years ago laid the foundation for a reputable, dominant, globally recognised financial institution known for innovation, superior performance, and the creation of premium value for all stakeholders.The Chief Executive of Stanbic IBTC Capital Limited, Mr. Oladele Sotubo, commended the management of Zenith Bank for their commitment to the transaction, which provides an opportunity for existing shareholders to consolidate their position and welcomes new investors to join the journey towards the future of Zenith Bank. He also expressed gratitude for the opportunity for Stanbic IBTC Capital Limited to lead and guide the execution of the transactions. Speaking further, he said, “A combined offer that is both a Rights Issue and a Public Offer confirms Zenith Bank’s position as a pacesetter and a role model, which will undoubtedly spur more transactions in the capital market.”The lead issuing house for the Rights Issue and Public Offer is Stanbic IBTC Capital Limited, with joint issuing houses including Quantum Zenith Capital & Investments Limited, CardinalStone Partners Limited, Meristem Capital Limited, Chapel Hill Denham Advisory Limited, Coronation Merchant Bank Limited and Vetiva Advisory Services Limited. The Offer will open on Thursday, August 1, 2024, and close on Monday, September 9, 2024.Zenith Bank has provided a robust suite of platforms for the Rights Issue and Public Offer. Applications can be made through any of Zenith Bank’s electronic channels: Zenith Bank Internet Banking, Zenith Bank Mobile Application, Zenith Bank Corporate Internet Banking, Zenith Bank Branches nationwide and NGX Invest platform. The Zenith Bank E-Application channels have been integrated into the NGX Invest platform, which can be accessed at https://invest.ngxgroup.com, and are available to all applicants and authorised receiving agents to submit applications on behalf of applicants. The electronic channels democratises the distribution of public offers and rights issues in the capital market, enabling investors to subscribe with the click of a button.
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.
FirstBank, the West African premier financial institution and financial inclusion services provider, has emerged as Nigeria’s Best Bank for Environmental, Social, and Governance (ESG) at the prestigious Euromoney Awards for Excellence 2025, held recently in London. This marks FirstBank’s second consecutive win in the ESG category, affirming its leadership in sustainable finance and responsible banking across Nigeria.
The Euromoney Awards for Excellence are regarded as one of the most coveted accolades in the global financial industry. The highly competitive selection process involves rigorous analysis and assessment, measuring performance against strategic and impact-oriented criteria.
The Bank earned the award through its deepened sustainability commitments embedded across its operations and community initiatives. In 2024, FirstBank screened 237 transactions worth over ₦3 trillion for sustainability risks, integrating ESG considerations into its credit framework.
Among its flagship sustainability initiatives, FirstBank commenced a tree planting campaign in partnership with Nigeria Conservation Foundation (NCF), planting over 30,000 trees in 16 locations across Nigeria. This was the first phase of its 50,000-tree initiative, projected to absorb approximately 720 tonnes of CO₂ by the end of 2025, contributing to climate resilience and supporting biodiversity preservation.
FirstBank has been proactive in gender inclusion through the Gender Market Strategy, disbursing over ₦43 billion FirstGem loans to women-led businesses in 2024. The Bank’s commitment to inclusive banking saw a significant increase in the worth of transactions facilitated by FirstMonie agents to over ₦9 trillion.
The Bank prioritises ESG/sustainability capacity building, evidenced by the training of over 9000 employees, and its webinars and workshops reaching over 2,000 SMEs and corporates. The bank’s investment in leadership for over 2,000 female employees through the FirstBank Women Network has demonstrated a dedicated structural commitment to cultivating a knowledgeable and diverse workforce catering to the dynamic ESG landscape.
Commenting on the award, the Chief Risk Officer of the Bank as well as the Chairman of the FirstBank Sustainability Committee, Patrick Akhidenor said, “We are honoured to receive this prestigious award for the second time in a row, which is a validation of our efforts to create a sustainable and inclusive future for all our stakeholders. Our approach to sustainability is hinged on three pillars: education, health and welfare; diversity and financial inclusion; responsible lending, procurement and climate initiatives”
He added: “We remain focused on driving impact through purposeful initiatives and inclusive growth, ensuring that our ESG efforts continue to create meaningful change in communities across Nigeria and beyond.”
The continued success in ESG and sustainability is driven by FirstBank’s vision to be Africa’s bank of first choice, leading with purpose, responsibility, and innovation.
-
Photo © 2025 – ASV Photography Ltd.
www.ASVphotos.comZenithBankPlchasbeennamed“Nigeria’sBestBank”attheEuromoneyAwardsforExcellence2025,emergingasNigeria’sstandoutperformer,andclinchingthebiggestandmost coveted country award. The award, which was presented to the bank on Thursday, July17,2025atThePeninsula,London,isatestament to its commitment to delivering exceptionalbanking services, innovative products and superior value to its customers and shareholders.Euromoney’s Awards for Excellence are one of the most highly coveted awards that matter tobanksandbankerswhomatter.TheannualAwardsforExcellencecelebratesfinancialinstitutions that demonstrate leadership, innovation, and resilience in their markets, with thisyear’seditionseeingarecordnumberofover770entriesfromworldclassfinancialinstitutionsincludingHSBC,MorganStanley,CitiBank,Barclays,StandardBankandDevelopment Bank of Singapore (DBS), amongst others.Commenting on the award, the Group Managing Director/Chief Executive of Zenith Bank Plc,Dame Dr. Adaora Umeoji, OON said, “We are absolutely thrilled to be recognized as Nigeria’sBestBankbyEuromoney.Thisawardisnotjustatestamenttoourrelentlesspursuitofexcellence, but also a validation of the unwavering trust and confidence our customers haveplaced in us. We are once again reminded that our success is not just about us, but about theimpact we continue to have on the financial ecosystem. We will continue to work tirelessly tosupportthegrowthanddevelopmentofoureconomyandupholdthehigheststandardsofgovernance, integrity and transparency that has earned us this recognition”.She dedicated the award to Zenith Bank’s customers across the globe for their loyalty, and tothe Founder and Chairman, Jim Ovia, CFR, for his visionary leadership and commitment toexcellencewhichformedthefoundationforthebank’ssuccesses.ShealsothankedtheBoardfortheirguidance,aswellasthestafffortheirunwaveringdedicationtobuildingaformidable and best in class global financial institution that will outlive generations.ZenithBank’strackrecordofexcellentperformancehascontinuedtoearnthebrandnumerous awards including being recognised as the Number One Bank in Nigeria by Tier-1Capitalforthesixteenthconsecutiveyearinthe2025Top1000WorldBanksRanking,publishedbyTheBanker.TheBankwasalsoawardedBankoftheYear(Nigeria)inTheBanker’s Bank of the Year Awards for 2020, 2022 and 2024; Best Bank in Nigeria from 2020to2022, 2024and 2025,inthe GlobalFinance World’sBestBanks Awards;Best BankforDigitalSolutionsinNigeriaintheEuromoneyAwards2023;andwaslistedintheWorldFinance Top 100 Global Companies in 2023.Further recognitions include Best Commercial Bank, Nigeria for five consecutive years from2021 to 2025 in the World Finance Banking Awards and Most Sustainable Bank, Nigeria in theInternationalBanker2023and2024BankingAwards.Additionally,ZenithBankhasbeen -
acknowledgedastheBestCorporateGovernanceBank,Nigeria,intheWorldFinanceCorporateGovernanceAwardsforfourconsecutiveyearsfrom2022to2025and‘BestinCorporateGovernance’FinancialServices’Africaforfourconsecutiveyearsfrom2020to2023 by the Ethical Boardroom.The Bank’s commitment to excellence saw it being named the Most Valuable Banking BrandinNigeria inThe Banker’sTop 500Banking Brandsfor 2020 and 2021,Bank ofthe Year 2023and2024attheBusinessDayBanksandOtherFinancialInstitutions(BAFI)Awards,andRetail Bank of the Yearfor three consecutive years from2020 to 2022 and in2024 at the BAFIAwards. The Bank also received the accolades of Best Commercial Bank, Nigeria and BestInnovation in Retail Banking, Nigeria, in the International Banker 2022 Banking Awards.ZenithBankwasalsonamedMostResponsibleOrganisationinAfrica,BestCompanyinTransparencyandReportingandBestCompanyinGenderEqualityandWomenEmpowerment atthe SERAS CSRAwards Africa 2024;Bank of theYear 2024by ThisDayNewspaper; Bank of the Year 2024 by New Telegraph Newspaper; and Best in MSME TradeFinance,2023byNairametrics.TheBank’sHybridOfferwasalsoadjudged‘RightsIssue/Public Offer of the Year’ at the Nairametrics Capital Market Choice Awards 2025
-
news5 years agoUPDATE: #ENDSARS: CCTV footage of Lekki shootings intact – Says Sanwo – Olu
-
lifestyle5 years agoFormer Miss World: Mixed reactions trail Agbani Darego’s looks
-
health4 years agoChairman Agege LG, Ganiyu Egunjobi Receives Covid-19 Vaccines
-
lifestyle4 years agoObateru: Celebrating a Quintessential PR Man at 60
-
health5 years agoUPDATE : Nigeria Records 790 new cases of COVID-19
-
health5 years agoBREAKING: Nigeria confirms 663 new cases of COVID-19
-
news3 months agoBREAKING: Tinubu swears in new NNPCL Board
-
entertainment7 months agoAshny Set for Valentine Special and new Album ‘ Femme Fatale’