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UPDATED: Zenith Bank appoints Adaora Umeoji as new GMD –



JUST IN: Zenith Bank appoints Adaora Umeoji as new MD - Report

Zenith Bank Plc on Tuesday, appointed Dame Adaora Umeoji as the Group Managing Director (GMD), effective from June 1, 2024, making her the first female to lead the bank.

Zenith Bank in a statement at the Nigerian Exchange Limited (NGX) on Tuesday said Umeoji’s appointment will take effect from June 1, 2024.

According to the bank, Umeoji will replace Ebenezer Onyeagwu whose five-year tenure as GMD/CEO ends on May 31.

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Prior to Umeoji’s appointment as CEO, she was the deputy managing director (DMD) of Zenith Bank from October 28, 2016. Umeoji has over 30 years of experience in banking of which 26 years has been with Zenith Bank.

“She is an alumnus of the prestigious Harvard Business School where she attended the Advanced Management Program (AMP) and an alumnus of Columbia Business School with a Certificate in the Global Banking Program,” Zenith said in the statement at the NGX.

“She holds a Bachelor’s Degree in Sociology from the University of Jos, a Bachelor’s Degree in Accounting and a First-Class honors in Law from Baze University, Abuja. “She holds a Master of Laws from the University of Salford, United Kingdom, a Master in Business Administration (MBA) from the University of Calabar, and also has a doctorate in business administration from Apollos University, USA.

“She holds a Certificate in Economics for Business from the prestigious MIT Sloan School of Management, USA, and has attended various management programmes in renowned Universities around the world including the strategic thinking and Management programme at Wharton Business School, USA. “She also attended the executive program in Strategic Management, and has a Certificate in Leading Global Business all from Harvard Business School, USA.”

Umeoji is also a fellow of notable professional bodies including the Chartered Banker Institute, UK; Chartered Institute of Bankers of Nigeria, and the Nigerian Institute of Management, among others.

The banker is said to be a peace advocate of the United Nations (UN-POLAC).

The new CEO is the founder of the Catholic Bankers Association of Nigeria (CBAN), a platform she uses to promote ethical banking and service to humanity.

The statement noted also that in 2022, the federal government of Nigeria honoured Umeoji with the title of officer of the order of Nigeria (OON) in recognition of her contributions to nation-building.

Meanwhile, it was gathered that Zenith is also implementing its holdco structure with the current Group Managing Director, Dr. Ebenezer Onyeagwu expected to be named as Chief Executive Officer after his two-year period as required by guidelines.

In the meantime, it is understood that Dr Onyeagwu has been appointed Chairman of the board of Zenith Bank United Kingdom.

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