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 ZENITH BANK SUSTAINS POSITION AS NIGERIA’S BEST COMMERCIAL BANK, NAMED BEST CORPORATE GOVERNANCE BANK AT WORLD FINANCE 2023 AWARDS

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For a third year running, Zenith Bank Plc has been named the Best Commercial Bank in Nigeria at the World Finance Banking Awards 2023. The bank also emerged as the Best
Corporate Governance Bank, Nigeria, in the World Finance Corporate Governance Awards
2023, retaining the award for a second consecutive year.

These awards were presented to Dr. Ebenezer Onyeagwu, the Group Managing
Director/Chief Executive Officer of Zenith Bank Plc, at the London Stock Exchange recently.
The recognitions celebrate the bank's tremendous feats and milestones in financial
performance, financial inclusion, corporate governance, and sustainability.
Commenting on the awards, Dr Onyeagwu said that: & quot; these awards are a testament to our
resilience and ability to adapt to the vagaries of the market as well as our innate capability
to engender very stellar business performances through our innovative products and
solutions.

 

It also affirms our continued commitment to global best practices in corporate
governance, sustainability and corporate social responsibility."
Dr Onyeagwu dedicated the awards to the Founder and Group Chairman, Jim Ovia, CFR,
thanking him for his mentorship and for establishing the basis for a resilient and highly
successful institution. He also expressed gratitude to the board for their exceptional
leadership, vision, and insight; to the staff for their unwavering commitment and dedication;
and to the bank's customers for making Zenith their preferred bank.

World Finance is a foremost international magazine providing extensive coverage and
analysis of the financial industry, international business, and the global economy. Its
editorial combines award-winning journalism, covering a vast array of topics from banking
and insurance to wealth management and infrastructure investment, with contributions from
some of the world's most esteemed economists and theorists and consultants from
government think tanks and the World Economic Forum.

Zenith Bank's track record of excellent performance has continued to earn the brand
numerous awards, with these latest honours coming on the heels of several recognitions,
including being recognised as the Number One Bank in Nigeria by Tier-1 Capital, for the
14th consecutive year, in the 2023 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 in Corporate Governance' Financial
Services' Africa, for four successive years from 2020 to 2023, by the Ethical Boardroom;
Most Sustainable Bank, Nigeria in the International Banker 2023 Banking Awards; 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 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

Business

ACCESS BANK (SL) LTD STRENGTHENS LEADERSHIP TEAM WITH KEYBOARD APPOINTMENTS, NAMES NEW CHAIRMAN

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Access Bank Sierra Leone Ltd (‘Access Bank (SL) Ltd’) has announced the appointment of new executives to its Board of Directors (‘the Board’), further strengthening its leadership team and advancing the implementation of its growth and transformation strategy. These appointments also reflect the Bank’s commitment to fostering growth and development while maintaining the highest standards of governance and stewardship.

Joining the Board as Non-Executive Directors are Maurice Nathaniel Cole, Nsikak N. Usoro, Michala Mackay, Ibrahim Khalil Lamin, and Kolawole Augustine Ajimoko. The appointees boast a wealth of expertise from diverse sectors, including banking, telecommunications, corporate governance, compliance, and finance. Their combined
experience and vision will contribute to shaping the future trajectory of Access Bank (SL) Ltd. Cole will serve as Chairman, following the exit of Alice Marie Onomake and will bring his experience to the fore as Access Bank (SL) Ltd works to consolidate its market position and deliver value for all its stakeholders.

 

“We are thrilled to welcome our new executives to Access Bank (SL) Ltd,” said Ganiyu Sanni, Country Managing Director, Access Bank Sierra Leone Ltd. “Their leadership and vision will be invaluable as we navigate through challenges and pursue sustained success. We extend our gratitude to the outgoing Chairman, Alice Marie
Onomake, and Non-Executive Director, Aminata B. Dumbuya, for their dedicated service and contributions to the Bank.” Access Bank (SL) Ltd remains committed to excellence, transparency, and accountability as it embarks on this exciting new chapter. The Bank looks forward to leveraging the collective expertise of its leadership team to drive innovation, foster growth, and create lasting impact for its customers and communities.

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Federal Government to Audit N2.8tn Fuel Subsidy Request Submitted by NNPCL

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The President Bola Ahmed Tinubu led Federal Government has made its intention known to initiate a new audit of the N2.8tn fuel subsidy request submitted by the Nigerian National Petroleum Company Limited.

An auditing firm, KPMG has successfully completed an initial audit that resulted in a reduction of the claims from N6 trillion to N2.7 trillion.

The federal government is exploring the option of involving an independent audit firm or instructing the Office of the Auditor General of the Federation to authenticate the assertions put forth by the corporation concerning the government’s outstanding debt to the oil company. The current move will ensure transparency and also ensure financial discipline in disbursing government funds which is in line to the administrations quest to curb corruption.

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Access Holdings Vests 23.8 million Units of Shares on Senior Executives

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In line with the disclosure requirements of the Securities and Exchange Commission and the Nigerian Exchange Limited, Access Holdings Plc , Africa’s leading financial services group, has announced the award of 23.8 million ordinary shares to some of its senior executives and executives of  Access Bank, its flagship subsidiary. This is in pursuant of the terms of its shareholders approved Employees Performance Share Plan.

Bolaji Agbede, the Acting Group Chief Executive Officer of Access Holdings, Roosevelt Ogbonna, the Managing Director/Chief Executive Officer of Access Bank, and six others were vested with 23,883,790 units of the Group’s shares, worth a combined N427.13 million.

This was disclosed via notices duly filed with the Nigerian Exchange Limited on Tuesday.

According to the filings, Ogbonna got the highest amount of shares totalling 12,345,679 units and worth N220.37 million, having been traded at N17.85 per share.

Agbede was vested with 2,216,992 units of shares, valued at N39.795 million.

Other directors, who had shares vested include Seyi Kumapayi, Executive Director, African Subsidiaries, Access Bank, with 1,234,568 worth N22.16 million; Iyabo SojiOkusanya, Executive Director, Commercial and Investment Banking Division, Access Bank, with 1,691,308 at N17.95 per share. Her vested shares are valued at N30.36 million, and Chizoma Okoli, Access Bank’s Deputy Managing Director, Retail South, who got 1,728,395 units valued at N30.85 million.

Dr Gregory Jobome, Executive Director, Risk Management, and Hadiza Ambursa, Executive Director, Commercial Banking, were each vested with 1,728,395 valued at N30.85 and N31.02m respectively. Access Holdings’ Company Secretary, Sunday Ekwochi, was vested with 1,210,058 units of the Group’s shares worth N21.72m.

The shares were vested on May 3rd and May 6th.

The vesting of the shares is not a purchase or sale transaction in the context of the Exchange’s Rules.

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