L-R: GMD/CEO, Nigerian
Exchange Group, Mr. Temi Popoola; Group Managing Director/CEO, Zenith Bank Plc, Dame Dr. Adaora Umeoji, OON; Chairman and Founder, Zenith Bank Plc, Jim Ovia, CFR; Group Chairman, Nigerian Exchange Group, Alhaji (Dr.) Umaru Kwairanga; Director General, Securities and Exchange Commission(SEC), Dr. Emomotimi Agama; CEO, Nigerian Exchange (NGX), Mr. Jude Chiemeka; and CEO, Central Securities Clearing System Plc, Mr. Haruna Jalo-Waziri at the Closing Gong Ceremony of the Nigerian Exchange Limited, yesterday.
Zenith Bank Plc’s Founder and Chairman, Dr. Jim Ovia, CFR, has been named the Doyen of the Nigerian Banking Industry during the prestigious Closing Gong Ceremony held at the Nigerian Exchange (NGX) on Tuesday, October 14, 2025. The event marked a major milestone in the bank’s partnership with the capital market and symbolized the official closing of the trading day.
Dr. Ovia was accompanied by the bank’s Group Managing Director/Chief Executive Officer, Dame Dr. Adaora Umeoji, OON, and other senior executives of Zenith Bank Plc. The ceremony underscored the bank’s continued commitment to transparency, accountability, and its role in strengthening investor confidence in the Nigerian capital market.
Speaking at the event, Dr. Umeoji expressed her delight in leading the Zenith Bank team to perform the closing gong ceremony, describing it as a celebration of shared progress and enduring partnership between the bank and the Exchange.
She praised the visionary leadership of the NGX and its embrace of innovation through technology. “The NGX’s electronic trading platform, X-stream, played a pivotal role in the success of our recapitalization exercise, which achieved a 160% subscription,” Dr. Umeoji said.
According to her, Zenith Bank’s recapitalization success has had a positive impact on the bank’s market performance, with its share price doubling from ₦36.50 per share to ₦68 following the exercise. She added that the bank’s half-year 2025 financial results confirmed Zenith as the most profitable bank in Nigeria and the top dividend payer in the industry.
Dr. Umeoji reiterated the bank’s focus on delivering superior value to shareholders while sustaining its long-standing partnership with the NGX. She emphasized that Zenith Bank’s growth strategy would continue to align with its customers’ evolving needs and business expansion into new markets.
“For us in Zenith, we are looking forward to paying more based on the confidence the market has reposed in us,” she assured. “We will continue to be the investors’ delight and guarantee enhanced dividends by the end of the year.”
In his remarks, the Director-General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, commended the NGX and market participants for their role in driving Nigeria’s capital market growth. He attributed the remarkable leap in market capitalization from ₦55 trillion at his assumption of office to nearly ₦93 trillion to the collective efforts of stakeholders.
“Your ability, tenacity, courage, vision, and transparency have moved the market to where it is today,” Dr. Agama said. “Our goal is to see the market reach ₦200 trillion by next year.”
The Doyen of the Nigerian Exchange, Alhaji Rasheed Yusuf, also commended Dr. Jim Ovia for his visionary leadership and immense contributions to the Nigerian banking industry. He described Ovia as the “Doyen of the Commercial Banking Sector,” a title recognizing his pioneering role in modernizing banking in Nigeria.
Zenith Bank’s consistent record of excellence, according to industry observers, has continued to earn it national and international recognition. The bank has maintained its position as the Number One Bank in Nigeria by Tier-1 Capital for sixteen consecutive years, according to The Banker’s Top 1000 World Banks Ranking 2025.
The bank was also named Nigeria’s Best Bank at the Euromoney Awards for Excellence 2025, and has received numerous other awards, including Bank of the Year (Nigeria) in The Banker’s Bank of the Year Awards for 2020, 2022, and 2024.
Between 2020 and 2025, Zenith Bank has earned multiple accolades from Global Finance, World Finance, International Banker, and Ethical Boardroom, recognizing its leadership in digital innovation, sustainability, and corporate governance.
The bank was also honoured as the Most Valuable Banking Brand in Nigeria in The Banker’s Top 500 Banking Brands for 2020 and 2021, and Bank of the Year at the BusinessDay Banks and Other Financial Institutions (BAFI) Awards for three consecutive years, from 2023 to 2025.
Zenith Bank’s achievements reflect its strong commitment to excellence, innovation, and value creation for stakeholders. As the bank continues to pursue global expansion, it remains focused on leveraging its market strength to deliver sustainable growth and enhance Nigeria’s economic development
