Zenith Bank GMD, Onyeagwu, Bows Out After Five Years of Meritorious Service, Honored as Best CEO
The Group Managing Director and Chief Executive Officer of Zenith Bank Plc
Dr. Ebenezer Onyeagwu, stepped down Frida 31st of May 2024, after completing his five-year tenure. Notably, Onyeagwu was named Best Banking CEO of the Year in Africa for the second year in a row at the International Banker 2024 Banking Awards.
This prestigious award, highlighted in the Spring 2024 issue of International Banker Magazine, coincided with Onyeagwu’s departure. In a statement issued by the bank, Onyeagwu expressed his gratitude for the recognition. “Being recognized as the Best Banking CEO of the Year in Africa for a second consecutive year is a significant honor. It reflects the collective efforts of our team and our commitment to innovation, growth, and delivering value to our customers and stakeholders. It also underscores our dedication to sustainability and high ethical standards, which are central to our strategy,” he said. Onyeagwu also thanked the bank’s founder and Chairman, Dr. Jim Ovia, for his mentorship, and acknowledged the contributions of the bank’s management, staff, and loyal customers.
During Onyeagwu’s tenure, Zenith Bank achieved significant milestones in financial performance, financial inclusion, corporate governance, and sustainability. The bank garnered numerous awards, including being named Best Bank in Nigeria four times between 2020 and 2022, and again in 2024 by Global Finance World’s Best Banks Awards. Other accolades include Best Bank for Digital Solutions in Nigeria by Euromoney Awards 2023 and a place among the World Finance Top 100 Global Companies in 2023.
Additionally, Zenith Bank was ranked as Nigeria’s number one bank by Tier-1 Capital for the 14th consecutive year in the 2023 Top 1000 World Banks Ranking by The Banker Magazine. The bank also received numerous other honors, including Best Commercial Bank in Nigeria by the World Finance Banking Awards from 2021 to 2023 and Best in Corporate Governance Financial Services Africa by Ethical Boardroom from 2020 to 2023.
Onyeagwu, who became GMD/CEO on June 1, 2019, as part of Zenith Bank’s succession strategy, will pass the leadership baton to Dr. Adaora Umeoji, the bank’s first female GMD. Last week, the Chartered Risk Management Institute of Nigeria also conferred a fellowship on Onyeagwu, recognizing Zenith Bank’s exceptional risk management practices and contributions to the financial sector.
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