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ZENITH BANK DELIVERS MASSIVE RETURNS FOR SHAREHOLDERS WITH N125.59BILLION DIVIDEND DECLARATION

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Founder and Chairman of Zenith Bank Plc, Jim Ovia, CFR (Centre) flanked by the Group Managing Director/Chief Executive, Dr. Ebenezer Onyeagwu (Left) and the Deputy Managing Director, Dame (Dr.) Adaora Umeoji, OON (Right) during the 33rd Annual General Meeting of the bank held at The Civic Centre, Victoria Island, Lagos yesterday.

Shareholders of Zenith Bank Plc, have approved the proposed final dividend payment of N3.50 per share, bringing the total dividend for the 2023 financial year to N4.00 per share, with a total value of N125.59 billion, which is the highest dividend payout by any bank.

Speaking at the Annual General Meeting, founder and chairman of Zenith Bank Plc, Dr. Jim Ovia, appreciated the shareholders for their support and loyalty to the Zenith brand which according to him has been instrumental to the bank’s consistent superior performance.

The Group Managing Director/Chief Executive Officer, Dr. Ebenezer Onyeagwu, thanked the Founder and Chairman for his mentorship, which has been instrumental to his success in the last five years as CEO, and for providing the pedestal for the bank’s continued superior performance. In his words, “As I prepare to pass the baton to Dame (Dr) Adaora Umeoji, I am confident in the bank’s trajectory under her leadership.

I would like to express my profound gratitude to our Founder and Chairman, Dr Jim Ovia, and to the board, shareholders, customers, and staff for their steadfast support throughout my tenure. I earnestly request that you extend the same level of support to my successor. It has been a remarkable journey, and

I am immensely proud of what we have accomplished together. As I commence the mandatory regulatory cooling-off period, I am filled with optimism for Zenith Bank’s future, assured that we are on the path to even greater success.”

Speaking on the dividend payout, Mrs. Bisi Bakare, National Coordinator of the Pragmatic Shareholders Association of Nigeria, expressed her delight in the exceptional performance of the bank, as evidenced by the numerous awards received during the 2023 financial year. She remarked, “We shareholders are very pleased today to receive a final dividend of N3.50 kobo from Zenith Bank. Following an interim dividend of 50 kobo paid last December, the total dividend for the 2023 Annual General Meeting amounts to N4.00— the highest in the banking sector to date. We truly appreciate this and are optimistic that the transition to a Holding Company will bring even greater returns. Zenith Bank’s numerous accolades this year clearly position it as the leading bank in the country. We anticipate that the 2024 AGM, marking the first year as a Holding Company, will be even more promising for Zenith.”

At the AGM, President of the Association of the Rights of Nigerian Shareholders (AARNS), Dr. Faruk Umar, expressed his gratitude to the Chairman for facilitating a seamless succession plan. He stated, “The bank has performed exceptionally well, particularly in terms of succession planning.

It’s encouraging to see the new managing director promoted from within, reinforcing our belief in the bank’s leadership development. This internal promotion strategy motivates our staff, giving them confidence that they can aspire to the highest levels within the bank.”

President of the Shareholders Solidarity Association of Nigeria, Timothy Adesiyan, praised the chairman and management of Zenith Bank for their consistent delivery of value to shareholders. He noted, “The bank’s rapid growth can be attributed to the diligent oversight by our Founder, who is also a core investor and actively monitors all operations. This growth is further supported by our adherence to strict corporate governance principles. The bank’s performance metrics are clearly delineated and managed by dedicated committees, ensuring accountability and responsiveness. As a stakeholder, I am very pleased with their performance and attentive response to any concerns raised.”

In spite of challenging macroeconomic conditions coupled with economic headwinds, Zenith Bank Group achieved a remarkable triple-digit growth of 125 per cent in gross earnings, from N945.6 billion in the previous year to N2.132 trillion in 2023. This was driven by a 112 per cent YoY growth in interest income and a 141% YoY growth in non-interest income. Customer deposits grew by 69 per cent, reflecting the bank’s market leadership and customers’ trust. Operating expenses grew by 32 per cent YoY. Total assets rose by 66 per cent, largely due to growth in total deposits and the revaluation of foreign currency deposits

In 2024, Zenith Bank Group plans to expand its reach following its restructuring into a holding company structure, adding new verticals to its businesses and pursuing growth in all chosen markets, locally and internationally.

Zenith Bank’s track record of excellent performance has continued to earn the brand numerous awards, including being recognised as Best Bank in Nigeria, for the fourth time in five years, from 2020 to 2022 and in 2024, in the Global Finance World’s Best Banks Awards; the Best Bank for Digital Solutions in Nigeria in the Euromoney Awards 2023, being listed in the World Finance Top 100 Global Companies in 2023; being recognised as the Number One Bank in Nigeria by Tier-1 Capital, for the 14th consecutive year, in the 2023 Top 1000 World Banks Ranking published by The Banker Magazine; Best Commercial Bank, Nigeria, for three consecutive years from 2021 to 2023, in the World Finance Banking Awards; Best Corporate Governance Bank, Nigeria in the World Finance Corporate Governance Awards 2022 and 2023; Bank of the Year (Nigeria) in The Banker’s Bank of the Year Awards 2020 and 2022; Best in Corporate Governance’ Financial Services’ Africa, for four successive years from 2020 to 2023, by the Ethical Boardroom; Most Sustainable Bank, Nigeria in the International Banker 2023 Banking Awards; Best Commercial Bank, Nigeria and Best Innovation in Retail Banking, Nigeria in the International Banker 2022 Banking Awards.

Also, the bank emerged as the Most Valuable Banking Brand in Nigeria in the Banker Magazine Top 500 Banking Brands 2020 and 2021; Bank of the Year 2023 and Retail Bank of the Year for three consecutive years from 2020 to 2022, at the BusinessDay Banks and Other Financial Institutions (BAFI) Awards. Similarly, Zenith Bank was named Bank of the Decade (People’s Choice) at the ThisDay Awards 2020, Bank of the Year 2021 by Champion Newspaper, Bank of the Year 2022 by New Telegraph Newspaper, and Most Responsible Organisation in Africa 2021 by SERAS

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Zenith Bank and Ford Foundation Honour Unsung ‘Sheroes’ with Inaugural Woman of Power Award

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On Saturday, March 28 2026, Zenith Bank held the climax of its month-long activities to commemorate March as women’s month. The event which held at The Civic Centre, was the second of such activity at the Centre, having held the International Women Day Seminar on the 9th of March, 2026. The event was to honour and give awards to exceptional women who have shown resilience in their communities with heir vocation impacting lives sustainably.

Speakers after speakers eulogized Zenith Bank for its people-centred activities and appreciated the Ford Foundation for identifying the Bank as a worthy partner in its push to support women in their peculiar cultural and economic conditions across the world.

Themed “Celebrating Resilience, Leadership, and Generosity” the award recognised 19 women who were selected from the six geo-political zones in trade, petty manufacturing, education, and agriculture. These women demonstrated extraordinary strength, leadership, and impact despite the significant challenges posed by the difficult economic situation in the country.

According to the organisers, the initiative provided a platform to showcase unsung “Sheroes” — everyday women who are making meaningful contributions in their communities and fields. These include market women, small-scale business owners, community leaders, educators, healthcare workers, and many others whose vital roles often go unnoticed.

The sponsors of the event noted that each awardee exhibited excellence in several key areas, including leadership and initiative, community impact, innovativeness and resourcefulness, perseverance, integrity, community trust, and philanthropy.

Among those honoured were:

  • Mrs Regina Amankulor, a retired nurse empowering young people in Umuode-Nsulu community, Isiala Ngwa North LGA, Abia State;
  • Mary Matanmi, Coordinator of the Nigeria Association of Hairdressers, Barbers and Cosmetologists, Lagos State chapter;
  • Ifeanyi P. Ugwueze, a Guidance Counsellor and Life Coach who continues to thrive despite blindness and is currently pursuing a doctorate degree.

Others include:

  • Amina Musa, a trade educator based in Karonmajiji, AMAC, Abuja;
  • Adenike A. Lambo, the Iyaloja of Ilorin;
  • Sadiya Abubakar, an educator in Jibi (Deidei), Bwari Area Council, FCT;
  • Erikan Idem Andrew, a market woman with significant community impact in Port Harcourt;
  • Ngozi B. Nwankpa, an Aba-based fashion designer;
  • Hadiza Umar, a Development Specialist based in Kaduna, Kaduna State;
  • Joy C. Ezenwa (aka Mama Amala), a trader at Sabon Gari Market, Kano;
  • Shola Esther Babalola (Mama Sho), promoter of natural honey and founder of the Mama Sho Honey brand in Lagos;
  • Josephine Ugwu, a staff member of the Federal Airports Authority of Nigeria (FAAN), honoured for her honesty in recovering and returning millions of naira mistakenly dropped by passengers at Murtala Muhammed Airport, Lagos.
  • And many others.

In her keynote address, the Group Managing Director of Zenith Bank, Dame Dr. Adaora Umeoji, OON, who was represented by Executive Director, Adobi Nwapa, praised the awardees and reaffirmed the bank’s strong commitment to women’s empowerment. She noted that “Zenith Bank’s commitment to gender inclusion is not a rhetoric but one of the ethos that the bank holds very dearly”. In her words, she also said, “Zenith Bank has a 50-50 gender ratio with women occupying strategic positions in the bank’s management and Board up to the current Group Managing Director being the very first female to hold that position.

The Regional Director of the Ford Foundation, Dr Chichi Aniagolu, described the Woman of Power Award as an eye-opener, noting that her team’s journey across the country revealed the vast and often overlooked facets of human potential among Nigerian women.

Both the Ford Foundation and Zenith Bank Plc have pledged to sustain and grow the initiative in the coming years.

Zenith Bank used the forum to notify the women of their various women-targeted products and initiatives, including the Z-Woman initiative, and the Bank’s 19-year sole sponsorship of the NBBF Women’s Basketball League; thus, further highlighting its position at the forefront of women empowerment and economic inclusion across the country.

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FirstBank Empowers SMEs with AI-Driven Growth Strategies, Hosts SMEConnect Webinar

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FirstBank, West Africa’s premier financial institution and financial inclusion services provider, is pleased to announce the upcoming edition of the SMEConnect Webinar scheduled to hold on Tuesday, 31 March 2026. The event will equip small and medium-sized enterprises (SMEs) with the knowledge and tools to harness the power of Artificial Intelligence (AI) for business growth.

This edition is strategically curated to inform and educate SMEs on how AI can be applied to scale their businesses in today’s rapidly evolving digital economy. The chosen theme, “AI for Business Growth: From Adoption to Integration and Scalable Impact,” reflects the growing importance and timeliness of AI as one of the most influential trends shaping the SME business landscape. The session will provide SMEs with actionable insights on how to leverage AI to enhance productivity, streamline operations, strengthen customer engagement, and make smarter, data-driven decisions.

The SMEConnect webinar will feature experts, including Temitope Odude, Senior AI Solutions Architect at Microsoft as a guest speaker. Odude will provide credible and globally relevant perspectives on how SMEs can successfully adopt and integrate AI into their everyday business operations. Other speakers include Abednego Ugwueke, Head of Digital Channels and Ibidun Adedewe, Head of SME Acquisition & Partnerships at FirstBank.

Speaking ahead of the event, Chuma Ezirim, Group Executive, e-Business and Retail Products at FirstBank, said “SMEs are the backbone of the Nigerian economy, and at FirstBank, we recognise that the economy cannot thrive without them. As a committed growth partner to SMEs, this session reinforces our strong focus on innovation, demonstrated through initiatives such as the use of AIenabled credit scoring to deliver fast, instant loans to microSMEs, with over ₦1 trillion disbursed to support customers’ financial needs. Building on this foundation, we are equipping business owners with the right knowledge and practical insights on Artificial Intelligence to help them scale in the short term and drive sustainable growth. I encourage every business owner to participate in this session to gain handson guidance on integrating AI into everyday business operations.”

SME owners and entrepreneurs can register for the webinar at https://firstbanknigeria.zoom.us/webinar/register/WN_cUr1LhWFQXymTqWtONOOVg

SMEConnect Webinar series is one of FirstBank’s signature platforms for supporting SMEs with practical knowledge and strategic insights. The Bank has consistently won awards for impacting businesses and for providing innovative solutions for customers and other stakeholders, including SMEs.

The Bank was named Best SME Bank in Nigeria and Best SME Bank in Africa by TAB Global Excellence in Retail Finance Awards for 2 years as at 2025.  The Bank also won the SME Financier of the Year- Nigeria awarded by The Digital Banker.

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FirstBank Makes Home Ownership Possible for Nigerians with Single-Digit Interest Rate Loan

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For millions of Nigerians, homeownership has long felt like an ambition deferred. Squeezed by rising property prices, persistent double-digit inflation and high commercial lending rates, the dream of owning a home has remained just that – a dream.

But that narrative is quietly changing. Thanks to FirstBank.

The N1 Trillion Intervention Reshaping Access

In partnership with the Ministry of Finance Incorporated Real Estate Investment Fund (MREIF), FirstBank has unveiled a mortgage opportunity that could redefine access to housing finance in Nigeria.

Backed by the Federal Government’s N1trillion mortgage fund, the initiative is designed to empower Nigerians with affordable, long-term credit to own their homes.

9.75% Interest Rate in a 30% Lending Environment

MREIF is priced at 9.75% per annum, dramatically lower than prevailing commercial loan rates. Eligible Nigerians can access up to N100 million and repay within 20 years. This translates into significantly more manageable monthly repayments and greater long-term financial stability.

Built for Salary Earners, Entrepreneurs and the Diaspora

The MREIF mortgage facility has been structured to be inclusive. It is available to salary account holders, business owners and diaspora customers. Whether you are a young professional aiming to exit the rent cycle, an entrepreneur building generational stability, or you’re a Nigerian abroad looking to secure assets locally, the product opens a pathway that has historically been out of reach for many.

Taking the First Step

For those who have been waiting for the right time, this is definitely it. The question is no longer whether homeownership is possible. The real question is: will you act before the window narrows?

Visit https://www.firstbanknigeria.com/personal/loans/mreif-home-loan/ and in no time you could be the latest homeowner in town.

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