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Zenith Bank fetes shareholders with dividend payout of N195.67 billion, promises quantum leap in future dividends

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Shareholders of Zenith Bank Plc, at the 34th Annual General Meeting (AGM) held at the Civic Centre, Victoria Island, Lagos, on Tuesday, April 29, 2025, approved the proposed final dividend payment of NGN4.00 per share, bringing the total dividend for the 2024 financial year to NGN5.00 per share, with a total value of NGN195.67 billion.

 

The Founder and Chairman of Zenith Bank Plc, Jim Ovia, CFR, thanked the shareholders for their unflinching support and commitment, which have been responsible for the bank’s stellar performance over the years. He noted that despite challenges globally in 2024, Zenith Bank was able to leverage the opportunities within the environment of each subsidiary to record a performance that solidly attests to the bank’s resilience as a brand.

 

The Group Managing Director/Chief Executive Officer, Dame Dr. Adaora Umeoji, OON, expressed her appreciation to the shareholders for their commitment and support, promising quantum leap in dividends going forward. According to her, “This is the first time that I am addressing the Annual General Meeting (AGM) in my capacity as the first female GMD/CEO of Zenith Bank. I would like to thank you for your confidence and support that has placed me in this position today”. She further said that “Zenith Bank is committed to, not only meeting your expectations, but exceeding them. We are focused on running a very efficient and sustainable institution that is resilient and will ensure that our institution outlives many generations to come”. Talking specifically about dividend, she emphasized that “If you look at our dividends trajectory, payments over the period have always increased and we will continue to maintain this record. We have successfully completed our recapitalization exercise, achieving 160% subscription. Therefore, we are not under any pressure to go back for the second time to raise funds. Zenith Bank has sufficient capital buffer to do business and we will continue to delight our shareholders. We are committed to growing our topline organically while adhering to our strict corporate governance culture.”

 

Dr. Faruk Umar, President of the Association of the Rights of Nigerian Shareholders (AARNS), applauded the Group Managing Director for her efforts in ensuring the growth of the bank’s financial indices. He said, “We are very happy that the bank is paying us N5. Most importantly the GMD/CEO, Dame Dr. Adaora Umeoji, has done so well. In the past year, she won the award for the Banker of the Year which is very commendable, and all the bank’s indices have gone up; we are now experiencing trillions in profit against N676 billion the previous year, and the shareholder’s funds, the gross earnings – everything now is in trillions. I think this is very commendable. The bank has won so many awards – no bank in Nigeria has won such qualitative awards like they have. They also surpassed the capitalization threshold of CBN by 160% – this is unprecedented. We are very happy with their performance.”

 

Speaking on the dividend payout, Alhaji Otunba Mukhtar Mukhtar, Chairman, Trusted Shareholders Association of Nigeria, said “The consistency of Zenith Bank dividend payout has never been matched in Nigeria. Since the inception of this bank, they have kept giving shareholders a consistent dividend payout, and this has made shareholders to be richer, happier, and more excited at the hardwork, performance and commitment of the bank. We are very happy. If you look at the Profit Before Tax (PBT) and the Profit After Tax (PAT), they have been able to cross the N1 trillion threshold. They have given us a Profit Before Tax of N1.3 trillion, which is very commendable. The shareholders, as you have seen at the meeting, have expressed their happiness and joy about this performance. I am grateful to the Chairman, Dr. Jim Ovia, CFR, the Management and the Board for such an outstanding performance.”

 

Ambassador Dr. Olatunde Okelana, the Balogun Olugbon of Orile- Igbon, Oyo State, also commented on the bank’s dividend payout. In his words, “Zenith Bank investment has been the best for me. I want to believe that whoever has not invested in Zenith Bank has lost. Their dividend policy is very palatable, very beautiful in the banking industry and the lady at the helm of affairs is performing wonderfully well. She is one of the best female CEOs in the banking Industry in Nigeria. I am a capitalist, so I invest where my money can give me beautiful returns. I want to tell you that Zenith Bank has been the best in the capital market and it is the best investment. Dr. Jim Ovia, CFR, the Founder & Chairman, is a benefit to mankind, he has done the best by giving us Zenith Bank. 99.9% of my savings is in Zenith Bank, because I have confidence in them and in the Management led by Dame Dr. Adaora. I want to encourage many Nigerians to invest in Zenith Bank so that they too can reap the fruit of their labor as soon as possible. I am very happy to be a shareholder of this bank.

 

Chief Timothy Adesiyan, President of the Shareholders Solidarity Association of Nigeria, praised the Chairman and Management of Zenith Bank for their consistent delivery of value to shareholders. He noted, “The dividend we received this year of N5 has been a promise which they have given to us at several forums which they have called at different times, and we thank them for not failing us in their promise. I am very proud to be a shareholder of Zenith Bank, and also their customer. The bank is a very reliable bank – if you keep your investments in Zenith Bank, you can go to sleep because there is always somebody there watching your investment for you.”

 

The bank’s robust financial performance in 2024 alluded to its commitment to continually delivering value to its investors in spite of challenging macroeconomic conditions. Zenith Bank Group achieved a remarkable double-digit growth of 86% in gross earnings, from NGN2.13 trillion in the previous year to NGN3.97 trillion in 2024. This was driven by a 138% increase in interest income, supported by investment in high-yield government securities, and growth in the Bank’s loan book. Customer deposits grew by 45%, reflecting the bank’s market leadership and customers’ trust. Total assets rose by 47%, underpinned by a strong liquidity position and effective balance sheet management.

 

Zenith Bank’s track record of excellent performance has continued to earn the brand numerous awards including being recognized as the Number One Bank in Nigeria by Tier-1 Capital for the fifteenth consecutive year in the 2024 Top 1000 World Banks Ranking, published by The Banker Magazine. The Bank was also awarded the Bank of the Year (Nigeria) in The Banker’s Bank of the Year Awards for 2020, 2022 and 2024; and Best Bank in Nigeria for four times in five years, from 2020 to 2022 and in 2024, in the Global Finance World’s Best Banks Awards.

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NFVCB Boss Urges Stronger Distribution Channels As Coal City Film Festival 2026 Opens In Enugu

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The Executive Director/Chief Executive Officer of the National Film and Video Censors Board (NFVCB), Dr Shaibu Husseini, has called for stronger distribution frameworks within Nigeria’s film industry to ensure that locally produced content achieves global visibility.


‎Dr Husseini made this call while delivering the keynote address at the opening ceremony of the 2026 edition of the Coal City Film Festival, held in Enugu.
‎Welcoming participants to the festival, Dr Husseini expressed his personal delight at hosting the event in Enugu, his birth state, noting the city’s rich cultural heritage and longstanding contributions to Nigeria’s creative landscape.

‎He commended the festival organisers, particularly the Festival Director, Uche Agbo, for their resilience and commitment in sustaining the initiative.

‎ According to him, the Coal City Film Festival has grown into a significant cultural platform and a must-attend cinematic event in South East Nigeria.
‎Speaking on the festival’s theme, “Local Stories, Global Screens,” Dr Husseini emphasised the importance of authenticity in storytelling. He noted that films rooted in local realities, languages, and cultural truths often resonate more strongly with global audiences.

‎He cited notable Nigerian productions such as “King of Boys” by Kemi Adetiba, “The Wedding Party” by Mo Abudu, “Anikulapo” by Kunle Afolayan, “Black Book” by Editi Effiong, and “Lionheart” by Genevieve Nnaji as examples of culturally grounded stories that have gained international recognition on platforms such as Netflix and at global film festivals.

‎While acknowledging the growth in film production across Nigeria, the NFVCB boss identified distribution as a major bottleneck in the industry. He observed that many high-quality films struggle to reach audiences both locally and internationally due to limited distribution channels.

‎Dr. Husseini therefore urged film festivals across the country to evolve beyond networking platforms into active marketplaces where filmmakers can secure distribution deals. He stressed that festivals must attract distributors, exhibitors, streaming platforms, and marketers to create tangible opportunities for filmmakers.

‎“Film festivals must become gateways to distribution where filmmakers leave not just with applause, but with real opportunities,” he said.

‎Reaffirming the Board’s commitment to industry development, Dr. Husseini stated that the NFVCB has continued to reposition itself as a partner in progress by engaging stakeholders, improving classification processes, and promoting a balance between creative freedom and social responsibility.

‎However, he raised concerns over increasing non-compliance with regulatory requirements, noting that some filmmakers bypass the Board by releasing unclassified films or operating without proper licensing.

‎He reiterated that all films and video works must be submitted to the NFVCB for classification and registration before being released on any platform, including digital platforms such as YouTube.

‎“This is a legal obligation, and the Board will not hesitate to take decisive action against defaulters,” he warned, adding that regulation is essential for protecting the industry, audiences, and national values.

‎Looking ahead, Dr. Husseini assured stakeholders of the Board’s continued collaboration with filmmakers and festival organisers to build a structured, sustainable, and globally competitive Nigerian film industry.

‎He concluded by commending the organisers of the Coal City Film Festival for their vision and contribution to Nigeria’s cultural economy, urging filmmakers to continue telling authentic stories that can resonate across global screens.

 

 

-Leadership

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Wike Reaffirms Nigeria–EU Ties, Moves To Reclaim Encroached Diplomatic Lands

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The Minister of the Federal Capital Territory, Nyesom Wike, has reiterated Nigeria’s commitment to strengthening its relationship with the European Union, while announcing steps to recover diplomatic lands in Abuja allegedly taken over by land grabbers.

 

Wike made this known on Thursday during a courtesy visit by the EU Ambassador to Nigeria and ECOWAS, Gautier Mignot, in Abuja.

He emphasised the importance of sustained cooperation between Nigeria and EU member states, noting that the partnership aligns with the broader policy direction of President Bola Tinubu’s administration.

“We will continue to engage EU member countries to further strengthen bilateral relations,” the minister said.

Addressing concerns over diplomatic land allocations, Wike disclosed that several plots originally designated for EU countries had been unlawfully occupied over the years. He noted that the FCT Administration has begun reclaiming such lands.

“We discovered that some lands allocated to EU member countries were taken over by land grabbers. In recent weeks, we have moved to recover those lands by removing illegal structures,” he stated.

He added that the government would formally communicate with the affected countries to determine their continued interest in the properties and ensure rightful ownership is restored.

“We are writing to those countries. If they still intend to retain the lands, we are willing to return them. We will not allow land grabbers to take advantage,” Wike said.

The minister also commended the EU for its contributions to governance and justice sector reforms in the FCT, particularly in court digitalisation and improved justice delivery.

“I am aware of your support, especially in strengthening the administration and dispensation of justice. We will continue to partner with you to deepen these initiatives,” he added.

On requests for land allocation for local EU staff, Wike assured that applications would be considered based on due process, stressing that such processes must ultimately benefit the public.

He further addressed infrastructure concerns at the IBB Golf Club, confirming that a caretaker committee has been constituted, with rehabilitation works expected to commence soon.

In his remarks, Mignot described Nigeria as a key strategic partner for the EU, noting that both parties are entering a new phase of deeper engagement.

“The European Union remains one of Nigeria’s foremost trade and development partners. Our relationship is strong, mutually beneficial, and evolving into a more significant phase,” he said.

He highlighted ongoing EU-supported programmes in the FCT, including judicial reforms, court digitalisation, human rights initiatives, and support for victims of gender-based violence.

Mignot also invited the FCT minister to engage further with EU ambassadors to explore collaboration in areas such as waste management, urban planning, and water infrastructure.

Meanwhile, Wike recently ordered the demolition of buildings illegally constructed on land designated for foreign embassies in the diplomatic zone of Katampe Extension, Abuja.

He explained that the land, originally allocated on March 18, 2008, for residential use by diplomatic missions, was later encroached upon by an unauthorised developer who commenced construction without approval from the Federal Capital Development Authority.

The affected diplomatic missions include Thailand, Bulgaria, Syria, Somalia, Serbia and Montenegro, Japan, Austria, Switzerland, Senegal, and the Palestine Liberation Organisation.

 

-Leadership

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Inspector-General Disu Submits 75-Page Framework On ‘State Police’ To Senate As Push Gains Momentum

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According to a statement issued on Thursday by Ismail Mudashir, Special Adviser on Media and Publicity to the Deputy Senate President, the document titled “A Comprehensive Framework for the Establishment, Governance and Coordination of Federal and State Police” was presented at Jibrin’s office within the National Assembly complex.

 

The Inspector-General of Police, Olatunji Disu, has submitted a 75-page framework on the establishment of State Police to the Deputy President of the Senate, Barau Jibrin, in a fresh move to advance decentralised policing in Nigeria.

According to a statement issued on Thursday by Ismail Mudashir, Special Adviser on Media and Publicity to the Deputy Senate President, the document titled “A Comprehensive Framework for the Establishment, Governance and Coordination of Federal and State Police” was presented at Jibrin’s office within the National Assembly complex.

The report was delivered on behalf of the IGP by Prof Olu Ogunsakin, who chairs the Nigeria Police Force committee set up to develop modalities for instituting State Police.

Disu said the document encapsulates the Force’s professional input following extensive consultations and a thorough evaluation of the legal, operational and administrative implications of decentralised policing.

“The report covers the considered views, professional insights and strategic recommendations of the Force, derived from extensive consultations and a careful assessment of the operational, legal and administrative implications of instituting State Police in Nigeria,” Disu said.

“It is our expectation that the contents of this report will meaningfully contribute to ongoing deliberations and assist in shaping informed, balanced, and pragmatic decisions on this critical aspect of national security architecture.”

The police chief noted that the framework has been formally submitted to the Senate Committee on the Review of the 1999 Constitution as the Nigeria Police Force’s official contribution to the ongoing constitutional amendment process.

Responding, Senator Jibrin commended the IGP for what he described as a proactive step aligned with the security agenda of Bola Ahmed Tinubu.

“The Deputy President of the Senate commended the IGP for his proactiveness on the establishment of State Police in line with President Bola Ahmed Tinubu’s agenda to fully secure the country,” the statement read.

He assured that the Senate Committee reviewing the Constitution would carefully examine the framework alongside other submissions as part of efforts to strengthen Nigeria’s legal foundation.

The proposed framework is expected to outline the operational structure, governance model, and coordination mechanisms between federal and state policing systems— marking a significant step in ongoing efforts to overhaul Nigeria’s security architecture.

SaharaReporters had earlier reported that Disu inaugurated an eight-member committee in March to drive the implementation of State Police, declaring that the reform was irreversible.

At the inauguration in Abuja, the IGP insisted that decentralised policing “has come to stay,” dismissing concerns that it could threaten the roles of existing police personnel.

“State Police has come to stay, and the police should be able to contribute their part in making it succeed. The police are not afraid, our jobs are not being taken,” he said.

He described the committee’s assignment as urgent and critical, giving members one month to submit their report amid rising security challenges across the country.

Disu stressed that the move towards State Police is aimed at strengthening internal security by bringing law enforcement closer to communities and enabling faster, more targeted responses to threats.

“Across the nation, we continue to confront evolving security challenges. These require innovative thinking, strategic collaboration, and the willingness to explore reforms,” he added.

The push for State Police has gained renewed momentum following President Tinubu’s assurance that the plan would not be shelved, urging stakeholders to support the initiative.

-Sahara

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