NGX Chairman hails Zenith Bank’s leadership, commends successful capital raising exercise

Nike Popoola

The Chairman of the Nigerian Exchange Group Plc (NGX), Alhaji (Dr.) Umaru Kwairanga, has commended Zenith Bank Plc for the successful completion of its capital raising exercise, describing the bank as a symbol of strength, innovation, and excellence in Nigeria’s financial industry.

Speaking at the NGX Closing Gong Ceremony held on Tuesday, October 14, 2025, in Lagos, Dr. Kwairanga welcomed the Chairman of Zenith Bank, Mr. Jim Ovia, and the Managing Director and Chief Executive Officer, Dame Adaora Umeoji, alongside members of the bank’s board and management.

He praised Mr. Ovia as “a true colossus of banking,” noting his role in growing Zenith Bank from a modest institution with ₦20 million share capital in 1990 to an African financial powerhouse with shareholders’ funds now exceeding ₦4 trillion.

Kwairanga also lauded Dame Umeoji as “the future of banking,” describing her as a visionary leader with exceptional expertise in marketing, customer service, and operations qualities that have become part of Zenith Bank’s culture.

He highlighted the bank’s consistent leadership in corporate and commercial banking, its strength in digital innovation, and its reputation for delivering strong shareholder returns.

“Zenith Bank has distinguished itself as a leader in corporate and commercial banking. It is also one of the most generous listed companies in terms of dividend payments and capital appreciation since it was listed on the Exchange in October 2004,” Kwairanga said.

The NGX Chairman further commended the bank for meeting the Central Bank of Nigeria’s recapitalisation requirements well ahead of schedule, noting that its proactive move reflects sound governance and strategic foresight.

“Zenith Bank is here today to celebrate not just compliance, but leadership,” he added, while reaffirming NGX’s commitment to supporting listed companies in their growth journey.