Zenith Bank gets CBN’s nod to transit to Holdco structure

Zenith Bank Plc says the Central Bank of Nigeria (CBN) has granted it approval-in-principle to operate a non-operating financial Holding Company structure.

The apex bank also approved Mr Jim Ovia as the Chairman of Zenith Holdco Plc (in-formation) and for Mr Jim Ovia to also continue as the Chairman of Zenith Bank Plc until the commencement of Zenith Holdco Plc.

The bank said further details in respect of this will be communicated to the market in due course.

Meanwhile, Zenith Bank notified of the approval of the group’s audited financial statement for the year ended December 31, 2022.

In a filing with the Nigerian Exchange Limited (NGX or the Exchange), Zenith Bank informed the investing public that in view of the need to finalise all outstanding issues relating to the component audit of the subsidiary, companies, the full year audited financial statement of the bank will be submitted to the Exchange on or before March 31, 2023, after receipt of the approval of the Central Bank of Nigeria (CBN).