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ZENITH BANK RETAINS TOP SPOT AS NIGERIA’S NUMBER ONE BANK BY TIER-1 CAPITAL FOR FIFTEEN YEARS IN THE 2024 TOP 1000 WORLD BANKS’ RANKING

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For the fifteenth consecutive year, Zenith Bank Plc has retained its position as the Number One Bank in Nigeria by Tier-1 Capital in the 2024 Top 1000 World Banks’ Rankings, published by The Banker Magazine. This ranking places Zenith Bank Plc as the 565th Bank globally with a Tier-1 Capital of $2.01 billion.

The rankings, published in the July 2024 edition of The Banker Magazine of the Financial Times Group, United Kingdom, recognise Zenith Bank’s continued financial strength and stability. They are based on the 2023 year-end Tier-1 capital of banks globally and remain the primary source for global bank financials used by most international organisations in their assessments of banks.

Tier-1 Capital describes capital adequacy, the core measure of a bank’s financial strength from a regulator’s perspective. According to the ranking, Tier-1 Capital, as defined by the latest Bank for International Settlements (BIS) guidelines, includes loss-absorbing capital, i.e., common stock, disclosed reserves, retained earnings, and minority interests in the equity of subsidiaries that are less than wholly owned. A strong Tier-1 capital ratio boosts investor and depositor confidence, indicating the Bank is well-capitalised and financially stable.

Commenting on this achievement, the Group Managing Director/CEO of Zenith Bank Plc, Dame (Dr.) Adaora Umeoji, OON, said, “We are deeply honoured to be recognised as the Number One Bank in Nigeria by Tier-1 Capital for the fifteenth consecutive year. This recognition is a testament to our strategic focus on sustainable growth, innovation, and customer satisfaction. It also emphasises our resilience and strength in navigating the ever-evolving financial landscape. Our dedicated team of professionals has remained steadfast in ensuring that we maintain our position at the forefront of the banking industry.”

She extended her profound and sincere appreciation to the Founder and Chairman, Dr. Jim Ovia, CFR, whose visionary and transformative leadership has played a pivotal role in cultivating a resilient and thriving establishment. She also expressed her deep appreciation for the board’s insightful governance, the staff’s relentless dedication, and the unwavering loyalty of the bank’s esteemed customers to the Zenith brand.

Zenith Bank’s financial performance for the year was driven by a remarkable triple-digit growth of 125% in gross earnings, from N945.6 billion reported in 2022 to N2.132 trillion in 2023. This growth led to an improved market share in both the retail and corporate segments despite a persistently challenging macroeconomic environment. The increase in gross earnings was primarily due to growth in interest and non-interest income. Interest income growth was attributed to the increase in the size of risk assets and their effective repricing, while non-interest income was driven by significant trading gains and gains from the revaluation of foreign currencies.

Zenith Bank recently commenced recapitalisation efforts with the conclusion of its Capital Markets Day held on 11th July 2024. It aims to raise the least amount of capital amongst its peers at N230 billion, considering it already maintains a robust capital base of N270.7 billion. The Bank remains dedicated to supporting the growth of the Nigerian economy and providing its numerous customers with innovative and efficient banking solutions.

Zenith Bank’s track record of excellent performance has continued to earn the brand numerous awards, with these latest accolades coming on the heels of several recognitions. These include being recognised as the Number One Bank in Nigeria by Tier-1 Capital for the fourteenth consecutive year in the 2023 Top 1000 World Banks Ranking, published by The Banker Magazine. The Bank was also awarded the Bank of the Year (Nigeria) in The Banker’s Bank of the Year Awards for 2020 and 2022; and Most Sustainable Bank, Nigeria in the International Banker 2024 Banking Awards.

Further recognitions include Best Bank in Nigeria for three consecutive years from 2020 to 2022 in the Global Finance World’s Best Banks Awards and Best Commercial Bank, Nigeria for three consecutive years from 2021 to 2023 in the World Finance Banking Awards. Additionally, Zenith Bank has been acknowledged as the Best Corporate Governance Bank, Nigeria, in the World Finance Corporate Governance Awards for 2022 and 2023, and ‘Best in Corporate Governance’ Financial Services’ Africa for four consecutive years from 2020 to 2023 by the Ethical Boardroom. The Bank’s commitment to excellence saw it being named the Most Valuable Banking Brand in Nigeria in the Banker Magazine Top 500 Banking Brands for 2020 and 2021, and Retail Bank of the Year for three consecutive years from 2020 to 2022 at the BusinessDay Banks and Other Financial Institutions (BAFI) Awards. The Bank also received the accolades of 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. 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 Awards.

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Open A FirstBank Account Digitally, Anytime, Anywhere

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Banking has evolved beyond the traditional branch experience, and FirstBank continues to make financial services more accessible through its seamless digital account opening platform. Whether you are a student opening your first account, a professional seeking a convenient banking solution, or an entrepreneur looking to manage business finances efficiently, you can now open a FirstBank account from the comfort of your home or office.

With just a smartphone, tablet, or computer and an internet connection, prospective customers can begin the account opening process in minutes through the FirstBank website. The platform is designed to be simple, secure, and user-friendly, ensuring a smooth onboarding experience for both individual and business customers. No paperwork, no need to physical visit a banking hall.

As Nigeria’s premier bank with 132 years of service excellence, FirstBank continues to leverage technology to enhance customer convenience and financial inclusion. The digital account opening solution reflects the bank’s commitment to delivering innovative banking services that meet customers where they are, enabling them to access banking services quickly and efficiently.

To open a FirstBank account, simply visit www.firstbanknigeria.com, complete the account opening process, and begin enjoying a wide range of banking products and services designed to help you achieve your financial goals.With FirstBank, banking is no longer limited by location. Open your account digitally today and experience convenient, secure, and accessible banking at your fingertips.

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ZENITH BANK DEEPENS INVESTMENT IN AFRICA’S TECHNOLOGY ECOSYSTEM, AWARDS ₦190 MILLION TO INNOVATORS

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Zenith Bank Plc has awarded ₦190 million to 13 winners across three innovation competitions at the sixth edition of its flagship technology event, Zenith Bank Tech Fair 2026: Future Forward 6.0, reinforcing its commitment to nurturing innovation, accelerating digital advancement and empowering the next generation of African technology leaders.

Held virtually for the first time on Thursday, November 5, 2026, under the theme, “AI: Embrace or Extinct,” the event brought together technology leaders, entrepreneurs, innovators, policymakers and participants from across the world to explore the transformative potential of Artificial Intelligence (AI) and its implications for businesses, economies and society. The ₦190 million prize pool is the largest in the history of the Tech Fair, further demonstrating the Bank’s growing investment in technology and innovation.

The 2026 edition featured three competitions: the Hackathon, Startup Pitch Competition and the newly introduced Future Innovators Challenge. Together, they attracted over 3,000 submissions from developers, entrepreneurs and secondary school students seeking to showcase innovative solutions and secure funding to advance their ideas.

In the Hackathon category, Team Solo emerged overall winner, receiving ₦35 million, while 10x Brains secured second place with ₦20 million. Rumour Hunters came third with ₦15 million, while Òmìnira and Team Avera emerged fourth and fifth, receiving ₦10 million each.

In the Startup Pitch Competition, Cutstruct Technology Limited clinched first place with ₦35 million, followed by Sproutly, which received ₦20 million. PharmaRun secured third place with ₦15 million, while AUI BRAND and ProDevs completed the top five, receiving ₦10 million each.

The Future Innovators Challenge, introduced to encourage technology-driven creativity and problem-solving among secondary school students, produced three winners. Caleb British International School emerged first, receiving ₦5 million, while Queen of the Rosary College, Onitsha, came second with ₦3 million. Regina Pacis International School secured third place with ₦2 million.

Among the winning solutions, Cutstruct Technology Limited’s LiveVend platform is transforming construction procurement by connecting developers and contractors with suppliers. Sproutly uses financial technology to simplify school payments, while PharmaRun makes access to authentic medications more convenient through its network of pharmacies. Caleb British International School’s ReLearn platform, which won the Future Innovators Challenge, redistributes used textbooks to students in underserved communities, making learning materials more affordable and accessible.

Beyond the financial rewards, the winners will benefit from a six-week mentorship and incubation programme, providing expert guidance and practical support to refine their solutions, strengthen their business models and scale their innovations.

In his welcome remarks, the Founder of Zenith Bank Plc, Jim Ovia, CFR, reaffirmed his vision of empowering young people through technology and nurturing innovators capable of making a global impact. He said: “My vision is to continue empowering young people through technology, with the hope that one day we will produce individuals who make an impact on the scale of Bill Gates, Steve Jobs and Jeff Bezos.”

In her opening address, the Group Managing Director/Chief Executive Officer of Zenith Bank Plc, Dame Dr Adaora Umeoji, OON, highlighted the urgency of embracing Artificial Intelligence and adapting to the rapidly evolving technology landscape. She noted that the Bank’s commitment to innovation is reflected in its investments in digital infrastructure, products and services, including its Zenith Intelligent Virtual Assistant (ZIVA). She also highlighted the role of the Bank’s fintech subsidiary, FinoPay, in developing the SMART AfCFTA Portal to facilitate intra-African trade.

Speaking on Africa’s role in the global AI revolution, she declared: “The next generation of global AI champions can and should come from Africa.” She further challenged participants to embrace emerging technologies, stating: “Do not fear AI. Embrace it. Whether you are developing a solution for a farm, clinic, classroom or factory, dare to think big, build ethically and create scalable solutions.”

The Governor of Lagos State, His Excellency, Mr. Babajide Sanwo-Olu, commended Zenith Bank’s contribution to technological advancement, saying: “Over the years, Zenith Bank has been a strong driver and enabler of innovation, using technology to advance solutions and raise expectations for its employees, stakeholders and the wider business community.”

He also reaffirmed the Lagos State Government’s commitment to the technology ecosystem, stating: “We are also committed to supporting and promoting the technology ecosystem, creating opportunities for innovation and ensuring that Lagos remains at the forefront of this important area of development.”

The Honourable Minister of Innovation, Science and Technology, Dr Kingsley Tochukwu Udeh, SAN, represented by the Director-General of the National Space Research and Development Agency (NASRDA), Professor Matthew Adepoju, commended the Bank’s investment in technology and youth empowerment. He emphasised the importance of public-private collaboration in translating innovation into economic opportunities, stating: “When government and the private sector work in the same direction, ideas become products, products become businesses, and businesses create jobs for our people.”

The Tech Fair featured a distinguished line-up of technology leaders and industry experts, with Zach Kass, former Head of Go-to-Market at OpenAI, delivering the keynote address. Examining the evolution of AI and the emergence of autonomous agents, Kass challenged participants to consider the place of human judgement and values in an increasingly automated world. He said: “We are approaching a world in which we will have to ask ourselves, regularly and seriously: what do we want to keep human, and what are we willing to automate?”

Other speakers included Mike Ogbalu III, Managing Director/CEO of the Pan-African Payment and Settlement System (PAPSS); Deniz Oran, Head of Payment Partnerships at Google for EMEA; Jane Egerton-Idehen, Managing Director/CEO of Nigerian Communications Satellite Limited (NIGCOMSAT); Kashifu Inuwa Abdullahi, Director-General of the National Information Technology Development Agency (NITDA); and Chinwe Uzoho, Regional Managing Director, West Africa, Network International. Sessions were moderated by Victoria Rubadiri, CNN Correspondent, alongside other industry experts.

Conceived by the Bank’s Founder, Jim Ovia, CFR, the Zenith Tech Fair reflects his vision of empowering young Nigerians through technology and nurturing innovators capable of developing solutions with global relevance. Over the years, it has evolved into a platform connecting ideas, talent, investment and opportunities, while giving emerging technology businesses the resources and exposure to grow.

Previous winners have gone on to develop solutions with practical applications across different sectors. They include JumpnPass, which developed a self-checkout solution for retail; CreditChek, which uses AI and open banking to streamline credit verification; TrustLoop, winner of the 2025 Hackathon with its digital identity verification solution; and Cubbes Technologies Limited, winner of the 2025 Startup Pitch Competition with its AI-powered educational technology platform.

With the introduction of the Future Innovators Challenge, Zenith Bank is extending this support to secondary school students, recognising the importance of identifying and nurturing technology talent early. Through the Tech Fair and its broader technology-driven initiatives, the Bank continues to invest in the people, ideas and businesses shaping Africa’s digital economy, providing innovators with the funding, mentorship and opportunities to turn promising ideas into impactful solutions

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PAY WITH A TAP: ZENITH BANK CUSTOMERS CAN NOW USE GOOGLE PAY IN-STORE AND ONLINE

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From Nigeria’s first ATM gallery to the phone in your pocket, Zenith Bank continues its technology-led approach to making payments simpler and more secure.

Zenith Bank Plc has announced today that its customers can now pay with Google Pay, bringing greater convenience and security to everyday transactions. By adding an eligible Zenith Bank card to Google Wallet, customers can tap to pay at participating contactless payment terminals and check out online or in apps without repeatedly entering their card details.

As Nigerians increasingly rely on their phones to shop, pay bills and manage their finances, Zenith Bank continues to advance banking experiences that combine convenience with robust security.

A simpler, more secure way to pay

Google Pay uses payment tokenization, a technology that replaces a customer’s actual card number with a digital token. This helps protect sensitive payment information by reducing the need to share actual card details during transactions.

For Zenith Bank customers, this means:

  • Enhanced security: Tokenization helps protect actual card details, reducing their exposure during payments.
  • Faster checkout: Customers can tap their compatible phones at participating contactless terminals or pay online without repeatedly entering their card information.
  • Convenience across channels: Eligible cards can be used through supported digital payment experiences, subject to device, merchant and service compatibility.
  • Greater peace of mind: Built-in security features help customers make digital payments with greater confidence.

A legacy of innovation, a future of possibilities

Zenith Bank’s latest digital payment development builds on a history of using technology to improve customer experience.

In 2007, the Bank opened what it describes as Nigeria’s first ATM gallery, a full-fledged branch without human tellers that offered customers access to cash, including on weekends and public holidays. At a time when conventional banking often meant lengthy queues, the initiative provided an alternative built around convenience and accessibility.

Today, the same commitment to innovation continues to shape the Bank’s digital ambitions.

The Group Managing Director/CEO of Zenith Bank Plc, Dame Dr. Adaora Umeoji, OON, underscored the importance of the technology, describing it as “digitally forward.” She added that the upcoming Zenith Bank Tech Fair 2026, themed Future Forward 6.0 and scheduled for November 5, would take the conversation further.

How to get started

Eligible Zenith Bank cardholders can add their supported cards to Google Wallet on compatible devices by opening the app, selecting the option to add a payment card and completing the required verification process.

Once set up, customers can use Google Pay at participating contactless terminals and supported online or in-app checkout points. Availability is subject to card eligibility, device compatibility and merchant acceptance.

About Zenith Bank PlcZenith Bank Plc is a leading financial services institution committed to delivering innovative banking solutions, superior customer service and sustainable value to its stakeholders. Through continuous investment in technology, operational excellence and customer-centric innovation, the Bank continues to advance digital banking and support the evolving financial needs of individuals, businesses and communities.

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