Jim Ovia Reaffirms Zenith Bank’s Commitment to Shareholder Value at NGX Closing Gong Ceremony

Zenith Bank Plc’s Founder and Chairman, Dr. Jim Ovia, CFR, alongside the bank’s Group Managing Director and Chief Executive Officer, Dame (Dr.) Adaora Umeoji, OON, on Tuesday, October 14, 2025, performed the prestigious closing gong ceremony at the Nigerian Exchange (NGX), marking the official close of trading for the day.

The ceremony underscored Zenith Bank’s enduring partnership with the NGX and reaffirmed its commitment to transparency, accountability, and sustained value creation for shareholders.

Speaking during the event, Dr. Umeoji described the ceremony as a celebration of Zenith Bank’s long-standing collaboration with the Exchange and its shared vision for market growth and innovation.

“We are delighted to be here today to perform the closing gong ceremony – a symbol of shared progress and enduring partnership,” she said. “The NGX’s leadership has been visionary and innovative, and their electronic trading platform, X-Stream, played a pivotal role in the success of our recapitalisation exercise, which achieved a 160% subscription.”

She noted that Zenith Bank’s share price doubled following the recapitalisation – from N36.50 to N68 per share – while the bank posted record-breaking half-year (H1 2025) results, emerging as Nigeria’s most profitable bank and paying the highest interim dividend in the industry.

> “We are committed to creating value for our stakeholders and will continue to partner with the NGX to strengthen the Nigerian economy,” she said. “Our expansion strategy is focused on following our customers’ businesses to new markets and economies where we can scale efficiently and deliver higher returns to shareholders.”

Dr. Umeoji further assured investors of enhanced year-end dividends, stating, “For us at Zenith, we are determined to remain the investors’ delight. Based on the confidence the market has in us, we intend to reward shareholders with even greater value by the end of the year.”

SEC DG, NGX Doyen Hail Zenith Bank’s Leadership

In his remarks, the Director-General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, commended the NGX and leading institutions like Zenith Bank for their pivotal role in deepening the Nigerian capital market.

“Without the contribution of institutions like Zenith Bank, the market would not have achieved the remarkable growth witnessed over the past 18 months,” Agama said. “When I assumed office, market capitalisation stood at N55 trillion. Today, it hovers between N89 trillion and N93 trillion. That growth is the result of your tenacity, courage, and vision. Our target is to reach N200 trillion by next year.”

Also speaking, the Doyen of the NGX, Alhaji Rasheed Yusuf, praised Dr. Ovia for his exceptional vision and leadership in Nigeria’s banking industry, describing him as “the Doyen of the commercial banking sector.”

Sustained Growth and Global Ambitions

Zenith Bank reaffirmed its focus on long-term value creation and sustainable growth, noting that the funds raised from its recapitalisation will be strategically deployed to enhance scalability, expand internationally, and deliver superior services to its customers.

The bank’s consistent performance and governance standards have earned it numerous local and international recognitions, cementing its status as Nigeria’s premier financial institution.

Zenith Bank was ranked the Number One Bank in Nigeria by Tier-1 Capital for the 16th consecutive year in The Banker’s Top 1000 World Banks 2025 and named “Nigeria’s Best Bank” at the Euromoney Awards for Excellence 2025.

Other recent accolades include:

Bank of the Year (Nigeria) in The Banker’s Bank of the Year Awards (2020, 2022, 2024).

Best Bank in Nigeria (2020–2022, 2024–2025) by Global Finance.

Best Bank for Digital Solutions in Nigeria in Euromoney Awards 2023.

Best Commercial Bank, Nigeria for five consecutive years (2021–2025) and Most Sustainable Bank, Nigeria (2023–2024) by International Banker.

Best Corporate Governance Bank, Nigeria (2022–2025) by World Finance, and Best in Corporate Governance – Financial Services Africa (2020–2023) by Ethical Boardroom.

Most Valuable Banking Brand in Nigeria (The Banker’s Top 500 Banking Brands, 2020–2021).

Bank of the Year (2023–2025) at the BusinessDay Banks and Other Financial Institutions (BAFI) Awards.

Best Commercial Bank and Best Innovation in Retail Banking in the International Banker 2022 Banking Awards.

Most Responsible Organisation in Africa, Best in Transparency and Reporting, and Best in Gender Equality and Women Empowerment at the SERAS CSR Awards Africa 2024.

Zenith Bank’s recent Hybrid Offer was also recognised as the “Rights Issue/Public Offer of the Year” at the Nairametrics Capital Market Choice Awards 2025.

With an impressive record of consistent performance, strong governance, and strategic foresight, Zenith Bank continues to reinforce its position as the benchmark for excellence in Nigeria’s banking industry, while setting its sights on global expansion and enhanced shareholder returns.