Zenith Bank Retains Award for Adherence to Global Best Practices

Image

By Modupe Gbadeyanka

For adhering to global best practices and institutionalising corporate governance, Zenith Bank Plc against been announced as the Best Corporate Governance Financial Services in Africa.

This is the fourth consecutive year the financial institution is running away with the award, setting an industry-wide example of best practices in corporate governance on the continent.

The lender was bestowed with this recognition by the Ethical Boardroom in the Spring 2023 edition of its magazine.

Ethical Boardroom is a trailblazing and leading international magazine that delivers in-depth coverage and critically-astute analysis of global corporate governance issues to help boards stay ahead of the governance curve.

The chief executive of Zenith Bank, Mr Ebenezer Onyeagwu, dedicated the award to the company’s founder and Chairman, Mr Jim Ovia, for providing the template for an enduring and very successful institution.

He also dedicated it to the board for their vision and outstanding leadership, the staff for their dedication and commitment, and the bank’s customers for their unwavering loyalty to the brand.

“I am extremely pleased that Zenith Bank has been awarded the Ethical Boardroom Corporate Governance Award as a regional governance champion for the fourth year.

“No doubt, the bank’s board has pioneered the exemplary governance culture for which we are now renowned. Indeed, this recognition reflects our steadfast commitment, discipline and high ethos in the conduct of our business and dedication to the principles of good corporate governance.

“This award will motivate us to strengthen this culture internally and advocate for good governance at every forum,” Mr Onyeagwu said.

Zenith Bank has been generally adjudged a Corporate Governance compliant bank by the Nigerian Exchange (NGX) hence its listing on the Premium Board of the Exchange.

The firm continues to sustain this reputation and reappraise its processes to ensure that its business always conforms to the highest global standards.

Its track record of excellent performances has continued to earn it numerous awards, including being recognised as the Number One Bank in Nigeria by Tier-1 Capital, for the 13th consecutive year, in the 2022 Top 1000 World Banks Ranking published by The Banker Magazine; Bank of the Year (Nigeria) in The Banker’s Bank of the Year Awards 2020 and 2022; Best Bank in Nigeria, for three consecutive years from 2020 to 2022, in the Global Finance World’s Best Banks Awards; Best Commercial Bank, Nigeria 2021 and 2022 in the World Finance Banking Awards; Best Corporate Governance Bank, Nigeria in the World Finance Corporate Governance Awards 2022; Best Commercial Bank, Nigeria and Best Innovation In Retail Banking, Nigeria in the International Banker 2022 Banking Awards. Also, the bank emerged as the Most Valuable Banking Brand in Nigeria in the Banker Magazine Top 500 Banking Brands 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. Similarly, Zenith Bank was named as 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.

Share
Related Stories
Image
14-February-2024

Access Bank to Give Customers Prizes in Love is More Campaign

By Modupe Gbadeyanka Access Bank Plc has disclosed that its customers would win different prizes in its MyAccessMoreValetineStory designed to reward them for their loyalty. The campaign was launched to make the love season memorable for its valued customers, a statement from the lender explained. It stated that special Valentine’s offers, themed Love is More, were introduced during this period to spread love and financial well-being all through February. “Access Bank is committed to enhancing the financial well-being of our customers while celebrating love in all its forms. “These Valentine’s offers are a token of our appreciation for their continued

Image
15-March-2024

Stanbic IBTC Bank Reward4Saving 3.0 Quarterly Draw Produces More Millionaires

By Modupe Gbadeyanka More millionaires have emerged in the Stanbic IBTC Bank’s Reward4Saving 3.0 promo quarterly draw recently, bringing the total number of customers who have won in the campaign to over 1,500 since its inception in 2021. At the last draw, seven lucky customers of the bank won the grand prize of N1 million each, while an additional 70 customers won N100,000 each. Since the commencement of the promo, currently in its third season, six draws have been conducted, resulting in 434 customers emerging as winners, receiving cash prizes ranging from N100,000 to N1 million for maintaining consistent savings

Image
12-March-2024

Abbey Mortgage Bank Relishes Transformative Journey, Impact of 32 Years

Abbey Mortgage Bank, a leading institution in the mortgage industry, is celebrating its 32nd anniversary this year. Over the past three decades, Abbey Mortgage Bank has evolved into a beacon of excellence, driving positive change and making a lasting impact on individuals and communities alike. Since its establishment in 1992, Abbey Mortgage Bank has undergone remarkable transformations, emerging as a pioneer in the mortgage sector. Beyond providing traditional mortgage services, the bank has expanded into retail banking, broadening its scope to better serve its customers’ needs. “Through dedication and innovation, our workforce has been the driving force behind Abbey Mortgage

Image
13-March-2024

Access Holdings Appoints Aig-Imoukhuede as Chairman

By Aduragbemi Omiyale Mr Aigboje Aig-Imoukhuede has been appointed as the Chairman of Access Holdings Plc, replacing Mr Abubakar Jimoh, who remains on the board as an independent non-executive director. Mr Aig- Imoukhuede, who is the business partner of the late chief executive of Access Holdings, Mr Herbert Wigwe, is expected to use his outstanding record of accomplishments, wealth of expertise and leadership to guide the company into a new era of success. The retired banker was the pioneer Group Managing Director (GMD) of Access Bank Plc, which is now the banking subsidiary of Access Holdings. A statement signed by

More Stories
Image
10-January-2017

Oyo Warns Adesina to Stop Parading Self as Baale

By Dipo Olowookere An alleged self-acclaimed Baale of Ejioku, Prince Bashiru Adesina, has been warned by the Oyo State government to desist from parading himself in such capacity, having failed to secure the approval of the Governor, Mr Abiola Ajimobi. According to the provisions of Chiefs Law of Oyo State of Nigeria, 2000, CAP. 28, the Governor must give an approval for anyone to parade himself as traditional ruler or chief. Speaking via a statement on Monday, the Commissioner for Local Government and Chieftaincy Matters, Mr Bimbo Kolade, conveyed the government’s displeasure at the development, which, he said, contravened laid

Image
17-July-2019

Naira, Dollar Exchange Rate Flat at Interbank, Parallel Markets

By Adedapo Adesanya The Naira and Dollar exchange rate remained stable at N306.95/$ at the interbank segment of the foreign exchange (forex) market on Tuesday, July 16, 2019. Likewise at the parallel market, the exchange rate between the two currencies was unchanged at the close of business at N360/$. But at the same segment of the black market on Tuesday, the local currency appreciated against both the Euro and Pound Sterling. An analysis showed that the Naira gained N2 against the Euro at the market window to quote at N405, while it improved by N1 against the Pound Sterling to

Image
28-August-2016

Chisco Transport Unveils Quarterly Promo

By Modupe Gbadeyanka One of the top transport companies in Nigeria, Chisco Transport Ltd, has introduced a quarterly reward system for its customers. At an interactive session with newsmen in Lagos recently, the company’s Executive Director, Mr Obinna Anyaegbu, disclosed that the transport firm has introduced the Chisco Rides & Rewards Quarterly promo. Mr Anyaegbu explained that the star prize up for grabs is a brand new 2016 MG3 series car as well as many consolation prizes worth millions of Naira. He stated that the promo is structured to run concurrently every quarter to reward frequent travellers and it is

Image
09-December-2018

Benue Budgets N196.5b for 2019

By Dipo Olowookere For the 2019 fiscal year, the government of Benue State is proposing to spend the sum of N196.5 billion, Governor Samuel Ortom has said. While presenting his Budget of Peace Security and Prosperity to the Benue State House of Assembly for approval, Mr Ortom said the sum of N106 billion has been earmarked for recurrent expenditure, while N90 billion is for capital expenditure. The 2019 appropriation bill, presented to the state parliament by the Deputy Governor, Mr Benson Abounu, has N52 billion set aside for administrative, N86 billion for economic sector, and N52.9 billion for social sector.

Image
22-October-2016

Police Smash 9-Man Kidnap Syndicate In Rivers

By Ebitonye Akpodigha Nine suspected kidnappers have been apprehended in Rivers State by the Police Command in the state. The suspects were arrested at different locations in Rivers State and were allegedly responsible for most kidnappings in Port Harcourt, the state capital. A statement issued by the Force spokesman, DCP Don Awunah, disclosed that a team of policemen in Rivers State, on October 12, 2016, after a tip off, launched a massive “onslaught on the kidnappers of some residents of GRA Phase II, Port Harcourt main town, Borikiri General Area and YKC axis of Woji” in the state. He gave

Image
27-February-2018

Nigerian Stocks Open Week With Marginal 0.02% Growth

By Modupe Gbadeyanka The Nigerian equities market closed on a positive note on Monday, though with a marginal growth of 0.02 percent against the 0.74 percent gain of the last trading session on Friday. At the close of market activities, the year-to-date return expanded to 11.34 percent. However, the market breadth finished negative with 21 price risers and 26 price fallers. The All-Share Index (ASI) slightly increased by 8.59 points to settle at 42,579.48 points, while the market capitalisation garnered N3.08 billion to close at N15.280 trillion. On the price movement chart, International Breweries emerged the highest price gainer, growing

Image
28-November-2023

Stanbic IBTC Capital Shines at AIHN Awards

By Modupe Gbadeyanka Like a golden fish, which has no hiding place, Stanbic IBTC Capital, the investment banking subsidiary of Stanbic IBTC Holdings, was the cynosure of all eyes at the recently concluded Association of Issuing Houses of Nigeria (AIHN) Investment Banking Dinner and Awards ceremony. At the event held in Lagos, the company went home with five awards, named as the Best Investment Bank in Nigeria, the Equity Deal of 2022, the Best Equity House of 2022, the Best Corporate Bond House 2022 and the M&A Deal of the Year 2022. The recognitions spread across Stanbic IBTC Capital’s Advisory,

Image
03-May-2019

European Shares Rise on Friday

By Investors Hub European shares have risen on Friday, as investors cheer positive earnings updates from regional banks and the upbeat U.S. jobs data. While the U.K.?s FTSE 100 Index has advanced by 0.8 percent, the German DAX Index is up by 0.6 percent and the French CAC 40 Index is up by 0.4 percent. Adidas shares have moved sharply higher. The German sportswear maker affirmed its full-year outlook after reporting forecast-beating earnings for the first quarter, thanks to high-margin ecommerce. Societe Generale has also rallied after the bank’s first quarter profit fell 26 percent but still beat expectations. The

Ad
Ad
Recent Stories
Image
19-March-2024

TikTok, AU Commission Partner for Digital Safety Campaign

By Adedapo Adesanya TikTok and the African Union Commission (AUC) are teaming up to launch the Africa-wide #SaferTogether Campaign, aimed at educating and engaging youngsters, parents, teachers, and community leaders on digital safety through in-app and on-ground activities. The partnership will be carried out by a short-form video app and the African Union Commission’s Women, Gender, and Youth Directorate (WGYD) and is aimed at bolstering online safety awareness among the youth as well as parents, teachers and guardians in Africa. This innovative collaboration emerges at a critical moment, addressing the urgent need for digital safety amidst the unique challenges faced

Image
19-March-2024

Court Dismisses Olu Agunloye’s EFCC Abuse Suit, Orders N500,000 Payment

By Adedapo Adesanya The Federal High Court in Abuja has dismissed a suit filed by a former Minister of Power and Steel, Mr Olu Agunloye, alleging abuse of his fundamental rights and seeking to be shielded from investigation and prosecution by the Economic and Financial Crimes Commission (EFCC). In a statement following the court’s judgement on Monday, the anti-graft agency said the presiding judge, Mr Obiora Egwuatu, dismissed the suit for lacking in merit and awarded a cost of N500,000 against Mr Agunloye in favour of the EFCC. Dismissing the suit, the judge held that Mr Agunloye’s fundamental human right

Image
19-March-2024

International Breweries Wants Approval for $379.9m Loan, Convert to Equity

By Aduragbemi Omiyale An Extra-ordinary General Meeting (EGM) for shareholders of International Breweries Plc to approve the $379.9 million loan to the company from AB InBev Nigeria Holdings BV and convert this to equity is scheduled for Tuesday, April 9, 2024. This was confirmed by a statement signed by the company secretary, Mrs Marian Reginald-Ukwuoma, on Monday. It was disclosed that the meeting would take place at the External Ballroom of the Federal Palace Hotel in Lagos. Business Post gathered that International Breweries obtained a loan of $379.9 million from Citibank Abu Dhabi and AB InBev Nigeria, one of the

Image
19-March-2024

How Putin Won March 2024 Presidential Election

By Kestér Kenn Klomegâh After three days (March 15 to 17) of voting, Vladimir Putin is leading the Russian presidential election with 87.34% after 98% of ballots were counted, according to data from the Russian Central Elections Commission. Undoubtedly it gives Putin, who has been in power since the last days of 1999, another six-year term (2024-2030) to lead Russia, and to pursue with much vigour its foreign policy ambitions in the international system and push forward the much-trumpeted multipolar configuration with a focus on Global South. Putin’s assertive control over the political landscape has been solidified due to the

Image
19-March-2024

Moove Raises $100m in Fresh Race to Conquer New Markets

By Adedapo Adesanya Exactly a year after raising $105 million in an oversubscribed Series A2 round, African mobility company, Moove, has raised $100 million in a Series B funding round as it plots expansion into new markets. According to reports, the funding round was led by mobility giant, Uber and saw injection from others such as sovereign wealth fund Mubadala, The Latest Ventures, AfricInvest, Palm Drive Capital, Triatlum Advisors, and Future Africa. This now pushes Moove’s post-money valuation to $750 million. The company is helping to solve the continent’s acute problem of limited access to vehicle financing for millions of

Image
19-March-2024

Oil Stocks Trigger 1.77% Gain at NASD OTC Exchange

By Adedapo Adesanya Oil stocks, Aradel Holdings and Acorn Petroleum, led the NASD Over-the-Counter (OTC) Securities Exchange to a 1.77 per cent appreciation on Monday, March 18. They increased the value of the alternative bourse by N24.85 billion during the trading session to N1.428 trillion from the N1.403 trillion it closed in the preceding, and the NASD Unlisted Security Index (NSI) rose by 18.33 points to wrap the session at 1,053.98 points compared with 1,035.65 points recorded at the previous session. Aradel Holdings Plc, after recent profit taking, appreciated by N114.28 yesterday to settle at N1,734.28 per unit compared with last

Image
19-March-2024

Naira Trades N1,597/$1 at Official Market, N1,600/$1 at Black Market

By Adedapo Adesanya The Naira appreciated against the US Dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM) segment of the currency market on Monday by 0.3 per cent or N5.41 to close at N1,597.34/$1 compared with last Friday’s value of N1,602.75/$1. It also improved its value against the Pound Sterling in the official market yesterday by N50.97 to wrap the session at N2,003/£1 compared with the preceding session’s N2,054.06/£1 and gained N41.89 against the Euro to close at N1,712.69/€1 versus N1,754.58/€1. It was observed that the supply of forex, according to data from the FMDQ Securities Exchange, slightly waned

Image
19-March-2024

Brent Jumps to $86 Per Barrel on Low Crude Exports, Stronger Demand

By Adedapo Adesanya  The price of the international crude benchmark, Brent Crude, rose by 88 cents or 1.0 per cent to $86.22 per barrel on Monday, triggered by lower crude exports from Iraq and Saudi Arabia and signs of stronger demand and economic growth in China and the US. Also, the US West Texas Intermediate (WTI) crude appreciated by $1.01 or 1.3 per cent to $82.05 per barrel, as Iraq, the second-largest producer in the Organisation of the Petroleum Exporting Countries (OPEC), said it would reduce crude exports to 3.3 million barrels a day in the coming months to compensate

Image
18-March-2024

Cardoso Begins CBN Clean-up, Removes Directors Close to Emefiele

By Aduragbemi Omiyale There are strong indications that some directors at the Central Bank of Nigeria (CBN) may have to lose their jobs in the in-house clean-up exercise by the Governor, Mr Yemi Cardoso. Reports suggest that Mr Cardoso wants to let go of some directors who worked closely with Mr Godwin Emefiele, who President Bola Tinubu believes worked to stop him from going to Aso Rock. Recall that during his electioneering campaign, Mr Tinubu accused the former CBN chief and some persons of introducing the botched Naira redesign policy to frustrate him. Immediately after he assumed office on May

Image
18-March-2024

Profit-Taking Depletes Nigerian Exchange by 0.40%

By Dipo Olowookere The Nigerian Exchange (NGX) Limited succumbed to profit-taking on Monday, shedding 0.40 per cent despite a bullish investor sentiment. The local bourse ended with 27 price gainers and 18 price losers today, implying a positive market breadth index. The selling pressure was just investors booking profit after gains in the past few trading sessions, especially in MTN Nigeria, GTCO, Zenith Bank and others. The heaviest price depreciation was recorded by McNichols, 9.30 per cent, closing at N1.17, and was trailed by DAAR Communications, which shed 8.97 per cent to 71 Kobo. UPDC declined by 7.89 per cent