By Joel Oladele, Abuja

Shareholders of Zenith Bank Plc, yesterday approved the proposed final dividend payment of N4.00 per share, bringing the total dividend for the 2024 financial year to NGN5.00 per share, with a total value of N195.67 billion.This was the major highlight of the 34th Annual General Meeting (AGM) of the bank held at the Civic Centre, Victoria Island, Lagos.

The Founder and Chairman of the Bank, Jim Ovia, in his remarks 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, Dr. Adaora Umeoji, expressed her appreciation to the shareholders for their commitment and support, promising a 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 the shareholders’ 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,” Umeoji noted.Talking specifically about dividends, 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 buffers 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.”President of the Association of the Rights of Nigerian Shareholders (AARNS), Dr. Faruk Umar, 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, Chairman, Trusted Shareholders Association of Nigeria, Alhaji Otunba Mukhtar Mukhtar, 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,” Mukhtar said.The Balogun Olugbon of Orile- Igbon, Oyo State, Ambassador Dr. Olatunde Okelana, 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.”President of the Shareholders Solidarity Association of Nigeria, Timothy Adesiyan, 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.”DAILY ASSET gathered that 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.

By Joel Oladele, Abuja

The Christian Rights Agenda (CRA), a faith-based advocacy organisation has called on President Bola Tinubu to urgently review its counter-terrorism strategy, expressing grave concern over renewed violence in parts of Benue and Plateau states.In a statement issued yesterday in Abuja, CRA revealed that no fewer than 80 communities in the two states are reportedly under the control of armed Fulani groups, whom it described as terrorists.

The group warned that these attacks are increasingly endangering the lives of Christians and other innocent Nigerians. “There has been a resurgence of attacks in Benue and Plateau over the past three weeks, resulting in numerous deaths, widespread destruction of property, and the displacement of many families,” the statement read.Describing the violence as coordinated and bearing the hallmarks of terrorism, CRA condemned what it views as an agenda driven by religious intolerance and chaos.“These attacks appear to be well-orchestrated acts of terrorism, intended to entrench violence and anarchy. This is unacceptable,” said Reverend Kallamu Musa Dikwa, CRA’s Secretary General.Dikwa disclosed that CRA has dispatched field officers to Benue, Plateau and Borno states to conduct on-the-ground assessments. “Preliminary findings confirm that over 80 communities have been overtaken by Fulani terrorists,” he stated.He also revealed that the organisation is developing a comprehensive database to document the persecution of Christians, particularly in northern Nigeria.While acknowledging President Tinubu’s recent directive to security agencies to intensify efforts against insecurity, CRA emphasised the need for those orders to be enforced with real consequences.“Such directives must go beyond political optics. They should be fully implemented, and any failures must be met with appropriate sanctions to deter future negligence,” the statement noted.CRA further urged state governors to rise above politics and address the killings with sincerity and courage.“It is time for leaders to call a spade a spade and not hide behind political convenience while communities suffer,” Dikwa added.

By Mike Odiakose, Abuja

The national leadership of Peoples Democratic Party (PDP) has instructed its Legal Adviser, Kamaldeen Ajibade, to prepare legal processes to take the Governor of Delta State, Sheriff Oborevwori; Senator Ifeanyi Okowa, the party’s former vice-presidential candidate and the entire PDP structure in Delta to court for defecting to the All Progressives Congress (APC).

Addressing journalists after the first meeting of the National Working Committee (NWC), for the year, Acting National Chairman, Amb Umar Damagum, explained that the party was prepared to challenge the defection legally to reclaim its mandate, as the officials were initially elected under the PDP platform. The Chairman further disclosed that the party has tasked Emma Ogidi, the Caretaker Chairman for the South-South zone, with taking over the leadership structure of the Delta State PDP.Ogidi is also to search for new party leaders, while disregarding the existing leadership under Chief Dan Orbih.On April 23, a dramatic defection saw Ifeanyi Okowa, Governor Oborevwori and the entire PDP structure in Delta State join the APC.This marked a significant shift in one of the PDP’s strongholds.In a major political realignment, Delta’s Deputy Governor, Monday Onyeme, state commissioners, local government chairmen and the state’s grassroots machinery all joined the APC after a closed-door meeting in Asaba, which was reportedly influenced by the political changes known as the “Hurricane Tinubu”.This defection has raised concerns of a potential drift toward a one-party state, according to opposition claims.Meanwhile, the PDP has scheduled its National Executive Committee (NEC), meeting for May 27, to further discuss the developments.I Ran as Atiku’s Running Mate against the Will of My People, says OkowaBarely twenty-four hours after he formally defected to the All Progressives Congress (APC), former Delta State Governor, Dr. Ifeanyi Okowa has confessed that he ran as the vice-presidential candidate alongside Alhaji Atiku Abubakar in the 2023 presidential election against the will of his people.The former governor admitted that his joint ticket with Atiku contradicted the zoning arrangement, power rotation and wishes of his people.Speaking on a TV programme, Okowa described his acceptance of the role as a misalignment with the prevailing sentiments in Delta State — an issue he said he has deeply reflected upon.He said, “Even when we were campaigning, I realised our people were not interested in having another northerner come into power.“But the decision had already been taken at the federal level by the party (PDP) and I had been nominated. Still, in retrospect, I now believe I should have gone with the will of my people.”He also fired back at former Senate President Bukola Saraki for criticising his defection from the Peoples Democratic Party (PDP) to the ruling All Progressives Congress (APC).Okowa has been harvesting negative comments from Nigerians since his defection from the PDP after benefiting immensely from the party since 1999.Okowa, former presidential running mate to former Vice President Atiku Abubakar of the PDP in the 2023 general elections, said that Saraki lacks the moral standing to comment on or criticise his defection.“I did not expect that someone like Senator Bukola Saraki should be able to speak concerning me, because he knows that he had also moved to APC before and eventually returned,” Okowa said.“So he has had movement to and fro. So, I don’t think that he has the moral right to even speak about my defection at all.”Okowa explained that the decision to defect was not taken lightly and was a collective resolution by key political figures in Delta State.He said it was necessitated by internal crises and a lack of strategic direction within the PDP.“Several things have been going on in the party. While I do not want to join issues with people, as stakeholders, our leaders in this state have sat down to look at the events in the last several months,” Okowa noted.“Because of the events that we see and the communications coming out from the leadership of the PDP at the moment, it did not appear to us that that was a proper political vehicle for us to continue in.”He further pointed to the PDP governors’ resistance to forming a coalition and the ongoing leadership crisis as clear signs that the opposition party is not prepared for serious political competition ahead of the 2027 general elections.