The Board of Zenith Bank Plc has announced the re-appointment Dame (Dr) Adaora Umeoji, OON as the Deputy Managing Director (DMD) of the bank.
This was announced in a notice filed with the Nigerian
Exchange.
The notice read: “Zenith Bank Plc “The Bank” hereby informs
its shareholders, NGX and the investing public that the Central Bank of Nigeria
(CBN) has given its ‘No Objection’ to the re-engagement of Dame (Dr) Adaora
Umeoji as Deputy Managing Director (DMD) of the bank. The re-engagement is
effective August 2, 2023.
Dame (Dr.) Adaora Umeoji OON is the Deputy Managing Director
of Zenith Bank Plc, boasting over 20 years of experience in banking and
executive management.
She holds multiple degrees, including a doctorate in
Business Administration, and has completed prestigious programs at Harvard
Business School, Columbia Business School, and MIT Management Sloan School.
As a fellow of various professional bodies, she is
recognized for her significant contributions to leadership and people
management.
Dr Adaora Umeoji is an esteemed speaker at academic
conferences and has delivered thought-provoking lectures on financing growth
drivers in Nigeria’s economy.
As a testament to her dedication to professionalism and
humanitarian efforts, she founded the Catholic Bankers Association of Nigeria
(CBAN) to promote ethical banking and service to humanity.
In addition, she holds titles as a Peace Advocate of the
United Nations and a Lady of the Order of Knights of St. John
International.
Recently, she was honoured with the national award of
Officer of the Order of the Niger (OON) by President Muhammadu Buhari for her
contributions to nation-building.
Recall that Zenith Bank Plc earlier announced the retirement
of Dr Adaora Umeoji as the Deputy Managing Director of the bank.
Her initial retirement was following the new CBN regulatory
guidelines that put a timeline on the cumulative number of years senior bank
officers could occupy executive board positions.
The CBN recently issued a new regulatory guideline
specifying the new tenure limits for bank MDs, Deputy MDs and directors.
Specifically, the guidelines, among other conditions,
stipulate that the tenure of Executive Directors (EDs), Deputy Managing
Directors (DMDs) and Managing Directors (MDs) shall be by the terms of their
engagement approved by the Board of Directors of the banks, subject to a
maximum tenure of ten (10) years.
Tenure Extension
In a recent update, The Central Bank of Nigeria revised the
tenure of executive directors (ED). Deputy managing directors (DMD), and
managing directors (MDs) of Banks and Bank Holding companies.
According to the approved guidelines seen by Nairametrics,
the cumulative tenure limit of directors (ED, DMD, MD, and NEDs) on the Board
of the same bank is twenty-four (24) years. It was 20 years in the previous
regulation.
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