Ebenezer Onyeagwu, Zenith Bank CEO, Purchases Additional 662,844 Shares in the Bank

The Group Managing Director and Chief Executive Officer of Zenith Bank Plc, Ebenezer Onyeagwu purchased additional shares of 662,844 from Zenith Bank.

According to the disclosure statement filed by the lender’s management, the GMD/CEO acquired the shares in two deals.

Onyeagwu purchased 652,842 units at N22.10 a share while another 10,002 units were acquired at N21.70 per share.

On aggregate, the Zenith Bank boss bought the 662,844 shares at an average price of N21.90 a share on May 7, 2021 but the disclosure signed by Michael Osilama Otu, Company Secretary and General Counsel, Zenith Bank was released on May 14, 2021.

The transaction was carried out in Lagos, Nigeria (Nigerian Exchange Limited).

The Securities and Exchange Commission (SEC) mandated public disclosure of all insider dealings to enforce transparency across the board. Also, it gives clues on directors’ position on companies direction.

Onyeagwu was appointed as the GMD/CEO effective June 1, 2019. Onyeagwu replaces Mr. Peter Amangbo, whose tenure expires on May 31, 2019.

Mr. Ebenezer Onyeagwu is a vastly experienced banker and financial expert, trained in reputable institutions of learning in Nigeria, the United Kingdom and United States of America.

Mr. Onyeagwu is a graduate of Accounting from Auchi Polytechnic where he obtained the Ordinary National diploma in 1984 and Higher National Diploma in 1987. He qualified as a Chartered Accountant in 1989 while he was still undergoing the compulsory National Youth Service Corp (NYSC) post graduation and was named a Fellow of the Institute of Chartered Accountants of Nigeria (FCA) in 2003.

He is an alumnus of the prestigious University of Oxford, England, from where he obtained a Postgraduate Diploma in Financial Strategy, and certificate in Macroeconomics. He also undertook extensive executive level business education in Wharton Business School of the University of Pennsylvania, Columbia Business School of Columbia University, the Harvard Business School of Harvard University (all in the United States) and Lagos Business School of the Pan African University, Nigeria.

He has nearly 30 years’ experience in the banking industry in Nigeria. He joined Zenith Bank Plc in 2002 as a Senior Manager, in the Internal Control and Audit Group of the bank. His professionalism, competence, integrity and commitment to the set objectives of the bank saw him rise swiftly between 2003 and 2005, first, as Assistant General Manager, then Deputy General Manager, and eventually as General Manager of the bank. In these capacities, he handled strategies for new business and branch development, management of risk assets portfolios, treasury functions, strategic top level corporate, multinationals and public institutional relationships, among others.