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Finally, Zenith GMD bows out in style
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Dr Ebenezer Onyeagwu’s appointment as the group managing director/CEO of Zenith Bank Plc., in June 1, 2019, through his tenure that ends in June 1, 2024, coincided with significant global disruptions that vanquished traditional business playbooks.
The unprecedented economic conditions wrought by the global pandemic, seismic shifts on the global scene mirrored by European and North America’s new nationalism, Sino-America tensions and ongoing Russo-Ukranian conflict which continue to impact diverse planetary business eco-systems can easily be recalled.
Through the enervating storm, Zenith Bank-led Onyeagwu remained a focused turf player and a powerful financial services sector entity which has indeed earned its glittering stripes. Onyeagwu clearly brought to his job astute strategic thinking, inspirational leadership, energetic and consummate entrepreneurial skills.
demonstrably a leader in the deployment of various channels of banking technology, and the Zenith brand has become synonymous with the deployment of state-of-the-art technologies in banking.
Built upon the three principles of people, technology and service, the optimisation of experience and satisfaction across its vast customer base inspires Zenith Bank’s digitalisation strategy, which delivers innovative solutions that are consistently ahead of the local competition.
The bank proudly boasts of having deployed several firsts in cutting-edge offerings that continuously satisfy evolving customer preferences and are thus pioneering the digital-banking revolution transpiring across the country – and, indeed, the continent – currently.
While Zenith Bank’s full year 2023 financial performance is being awaited, its unaudited results for the third quarter (Q3) ended September 30, 2023, showed that it recorded a remarkable triple-digit growth of 114 per cent from N620.6 billion reported in Q3 2022 to N1.33 trillion in Q3 2023.
The performance again demonstrated the Group’s resilience and strong market share despite a very challenging macroeconomic environment. It also reflected the leadership direction Zenith Bank has been enjoying under Onyeagwu.
According to the bank’s unaudited Q3 financial results presented to the Nigerian Exchange (NGX), the triple-digit growth in the top-line also enhanced the bottom line, as the Group recorded a 149 per cent year-on-year (YoY) increase in profit before tax, growing from N202.5 billion in Q3 2022 to N505 billion in Q3 2023.
Under Onyeagwu, Zenith Bank’s profit after tax also grew remarkably by 149 per cent from N174.3 billion to N434.2 billion in the same period. The growth in the top-line arose from both interest income and non-interest income.
Interest income grew in the current period by 72 per cent to N670.9 billion from N390.8 billion in Q3 2022, while non-interest income grew by 186 per cent, from N212 billion to N607.2 billion.
The growth in profit was similarly attributable to the twin effects of the improvement in interest and non-interest income. Interest income increased because of the growth in risk assets as well as the effective pricing thereon.
A transformational leader, Onyeagwu demonstrated compelling commitment to Zenith Bank’s vision that promotes re-engineering and innovation. This scenario is expected to continue to rub off positively on all aspects of the financial institution, according to the emerging corporate consensus.
As Zenith Bank’s Onyeagwu hands over the baton in the June I transition date, it is certainly not in doubt that he has indeed changed the industry’s story
News
Gov Sani signs laws to transform energy, agric, climate governance
Governor Uba Sani has signed three laws that will provide a comprehensive framework to transform the energy, agriculture and environmental sectors of Kaduna State.
A statement issued by the Commissioner for Information and Culture, Malam Ahmed Maiyaki, listed the new laws as the Kaduna State Electricity Law, 2026, Kaduna State Agricultural Development Fund (KADFund) Law, 2025, and Kaduna State Climate Change Advisory Board Law, 2026.
The statement quoted the Deputy Chief of Staff, Legal and Legislative Matters to the Governor, Dr. Mustapha Musa, as describing the laws as the most transformative governance reform packages.
He further said that the laws aim at expanding energy access, accelerating agricultural growth, strengthening climate resilience, and driving sustainable economic development through strong institutions.
The statement pointed out that the Kaduna State Electricity Law, 2026 establishes the Kaduna State Electricity Regulatory Commission to oversee electricity generation, transmission, distribution, and supply within the State.
The Commissioner added that the Electricity Law will create opportunities for private-sector investment, renewable energy development, and improved access to electricity.
Maiyaki also said that the KADFund Law, 2025 creates a dedicated financing mechanism to support farmers, cooperatives, agribusinesses, and agricultural value-chain actors through grants, soft loans, technical assistance, and investments in critical infrastructure aimed at boosting food security and agricultural productivity.
He further noted that the Kaduna State Climate Change Advisory Board Law, 2026 establishes a state-level framework for climate action, environmental sustainability, climate finance mobilization, and the integration of climate considerations into development planning, reinforcing Kaduna’s commitment to sustainable development.
The Commissioner also said the three laws collectively underscore the administration’s vision of building resilient institutions capable of driving inclusive growth, attracting investment, expanding opportunities, and delivering lasting benefits to citizens.
He noted that the landmark legislations reflect Governor Uba Sani’s commitment to laying the foundations for a prosperous, sustainable, and competitive Kaduna State through electricity sector reform, agricultural transformation, and climate-responsive governance.
According to him, the reforms establish the institutional framework needed to strengthen food security, improve living standards, and position Kaduna as a model for innovation, sustainable development, and effective subnational governance.
News
EFCC arraigns oil magnate, two others over alleged N691.6m fraud
The Economic and Financial Crimes Commission (EFCC) has arraigned the Managing Director of Abu-Haneefa Oil and Gas Ltd, Musa Farouk Abubakar, alongside his company and Sandra Chizoba Attoh before Justice Obiora Egwuatu of the Federal High Court, Maitama, Abuja, over alleged fraud involving N691.6 million.
The defendants were arraigned on an amended 15-count charge bordering on conspiracy, corruption, and money laundering to the tune of N691,677,310, according to a statement by the anti-graft agency posted on X.
One of the counts alleged that Abubakar, in July 2025, transferred N297 million from the company’s Zenith Bank account to an account belonging to Attoh, knowing the funds were proceeds of unlawful activity.
Another count alleged that he procured Attoh to transfer N262.8 million to a company account for the purchase of property at Kapital Villa, Guzape, Abuja, also suspected to be proceeds of corruption.
All the defendants pleaded not guilty to the charges.
Following their pleas, prosecution counsel, Rita Ogar, urged the court to fix a trial date and remand the defendants in a correctional facility, stating that the EFCC had “overwhelming evidence” against them.
Counsel to the first and second defendants, Ishaka M. Dikko, informed the court that a bail application had already been filed and urged that his client be remanded in EFCC custody pending hearing.
Counsel to the third defendant, Y. G. Haruna (SAN), also confirmed filing a bail application and noted that responses had been exchanged between both parties.
Ruling on the applications, Justice Egwuatu ordered that the first defendant be remanded at the Kuje Correctional Centre pending the determination of his bail application, while the third defendant was granted bail in the sum of N200 million with two sureties in like sum.
The court held that the sureties must reside in Abuja, provide verifiable means of identification, deposit passport photographs, and own property within the jurisdiction. One of the sureties must be a civil servant not below Grade Level 15 and must present letters of appointment and promotion.
The case was adjourned to September 1 and 2, 2026 for trial.
News
Aisha Yesufu faults NDC over FCT senatorial ticket exclusion
Prominent activist and politician, Aisha Yesufu, has criticised the National Democratic Congress (NDC) over her exclusion from the contest for the Federal Capital Territory (FCT) Senatorial District ticket.
She described the party’s decision as unjust and disappointing while urging her supporters to remain committed to the pursuit of good governance and national development.
Yesufu made the remarks in a statement issued on Wednesday after concluding a tour of all the Area Councils in the FCT, where she met with party leaders, ward officials, stakeholders, members of the Supporters of Aisha Yesufu Group (SAY Nation), and other supporters.
According to her, the outreach was aimed at engaging directly with supporters following the disappointment that greeted the party’s decision to deny her the opportunity to participate in the race for the FCT senatorial ticket.
“The purpose of the outreach was to engage directly with our supporters, particularly in light of the disappointment occasioned by the party’s decision, which unjustly denied us the opportunity to participate in the contest for the FCT Senatorial District ticket,” she said.
Despite her dissatisfaction with the outcome, Yesufu said the setback would not deter her from pursuing the ideals she has consistently advocated, including justice, good governance and national development.
“It was important to reassure them that, despite this setback, our commitment to the ideals of justice, good governance, and national development remains unwavering,” she stated.
The activist disclosed that her final stop was at Bwari Area Council, where she met with party officials and supporters who, she said, had remained steadfast in their commitment to the political movement and its objectives.
She noted that discussions during the visits focused on keeping supporters motivated and ensuring that the disappointment surrounding the senatorial ticket did not weaken their resolve to work toward broader national goals.
“I also encouraged our supporters to remain resolute, re-energize their efforts, and channel their passion, dedication, and resources toward the larger national objective of building a better Nigeria,” she said.
Yesufu stressed that the current political climate requires unity, perseverance and renewed determination, adding that supporters should continue to work toward a future anchored on responsible leadership and national progress.
“More than ever, this is a time for unity, perseverance, and renewed determination as we work collectively to secure a brighter future for our nation under the leadership of Peter Obi and Rabiu Musa Kwankwaso,” she added.
Reflecting on the reception she received throughout the tour, Yesufu described the response from party members, stakeholders and supporters as overwhelming and encouraging.
She said the support demonstrated by those she met reinforced her belief that many Nigerians remain committed to the vision of a better country built on accountability, equity and good governance.
“The outpouring of love, support, and solidarity from party members, stakeholders, and supporters was a strong reminder that our shared vision for a better Nigeria continues to resonate with the people,” she said.
“Their confidence and determination reaffirm my belief that, through unity, hard work, and the grace of God, the Nigeria of our dreams is within reach.”
Yesufu reiterated her commitment to the pursuit of justice, equity and good governance, expressing confidence that sustained collective action would help bring about the changes many Nigerians desire.
“Together, we will continue to stand for justice, equity, and good governance,” she said, adding that she remains optimistic about the country’s future.
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