With Adaora at Zenith, women now lead 11 of Nigeria’s 24 banks

ZENITH Bank Plc has announced the appointment of Adaora Umeoji as its Group Managing Director/Chief Executive (GMD/CEO), effective June 1, 2024.

Umeoji’s appointment reflects the growing influence of the female gender in Nigeria’s banking sector.

With the appointment, she will be the 11th female chief executive officer heading Nigeria’s 24 deposit money banks if the Central Bank of Nigeria (CBN) ratifies her appointment.

In percentage, 45 per cent of Nigeria’s 24 deposit money banks will be headed by women if her appointment scales through at the CBN.

They are Bolaji Agbede, Access Holdings; Miriam Olusanya, GT Bank; Yemisi Edun, FCMB; Halima Buba, SunTrust Bank; Ireti Samuel-Ogbu, Citibank Nigeria; Nneka Onyeali-Ikpe, Fidelity Bank; Tomi Somefun, Unity Bank; Kafilat Araoye, Lotus Bank; Bukola Smith, FSDH Merchant Bank; and Yetunde Oni, Union Bank.

Read Also:

In a notice to the investing public on Tuesday, March 19, Zenith Bank stated, “We write to inform you all of the appointment, by the Board of Directors, of Dr. Adaora Umeoji, CON, as Group Managing Director/Chief Executive of Zenith Bank Plc with effect from June 1, 2024 subject to the approval of the Central bank of Nigeria (CBN). She takes over from Dr. Ebenezer Onyeagwu, whose tenure expires on May 31, 2024.



    “The appointment is consistent with the bank’s executive transition tradition, succession plan, and strategy of grooming leaders from within.”

    Umeoji will take over from Ebenezer Onyeagwu, who has served in that capacity for a five-year term, expiring May 31, 2024.

    She will be the first female GMD/CEO the bank has had since its inception in 1990, when Jim Ovia founded it.

    Before her appointment, Umeoji had been the bank’s Deputy Managing Director since October 28, 2016, and has close to 30 years of cognate banking experience, of which 26 years have been with Zenith Bank.


    Join the ICIR WhatsApp channel for in-depth reports on the economy, politics and governance, and investigative reports.

    Support the ICIR

    We invite you to support us to continue the work we do.

    Your support will strengthen journalism in Nigeria and help sustain our democracy.

    If you or someone you know has a lead, tip or personal experience about this report, our WhatsApp line is open and confidential for a conversation


    Please enter your comment!
    Please enter your name here

    Support the ICIR

    We need your support to produce excellent journalism at all times.

    - Advertisement


    - Advertisement