Connect with us

Business

World Finance Awards 2022: Again, Zenith Bank Wins Best Commercial Bank, Corporate Governance Awards

Published

on

Zenith Bank Plc has emerged as the Best Commercial Bank, Nigeria in the World Finance Banking Awards 2022, retaining the award for a second consecutive year. The bank was also named as the Best Corporate Governance Bank, Nigeria in the World Finance Corporate Governance Awards 2022.

The awards, which were presented to the Group Managing Director/Chief Executive of Zenith Bank Plc, Mr. Ebenener Onyeagwu at the London Stock Exchange yesterday, were in recognition of the bank’s ability to embrace digital transformation and best-in-class sustainability and corporate governance practices, leading to a stellar business performance in a difficult economic climate.

Commenting on the double recognition, Onyeagwu said that: “These awards reflect our strong business fundamentals, resilience and ability to adapt to the ever-changing dynamics of the market through our innovative solutions, as well as our commitment to global best practices. As a member and signatory to various domestic and international sustainability frameworks including the United Nations Global Compact (UNGC) and the Central Bank of Nigeria Sustainable Banking Principles, we continue to support the achievement of the Sustainable Development Goals (SDGs) by creating value for our shareholders, customers, clients, investors, communities and the environment through our practices, operations and investments.”

He dedicated the awards to the Founder and Group Chairman, Jim Ovia, CON, for his pioneering role in building the structures and laying the foundation for an enduring and very successful institution; the Board for the outstanding leadership they provide; the staff for their commitment and dedication; and the bank’s customers for making Zenith Bank their preferred financial Institution.

World Finance is a leading international magazine providing comprehensive coverage and analysis of the financial industry, international business and the global economy. The editorial combines award-winning reportage, covering a broad range of topics from banking and insurance to wealth management and infrastructure investment, with contributions from some of the world’s most well-respected economists and theorists as well as consultants in 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 accolades coming on the heels of several recognitions including being voted as 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 three consecutive years from 2020 to 2022, by the Ethical Boardroom; Best Commercial Bank, Nigeria and Best Innovation In Retail Banking, Nigeria in the International Banker 2022 Banking Awards; and Bank of the Year (Nigeria) in The Banker’s Bank of the Year Awards 2020. Also, the Bank emerged as the Most Valuable Banking Brand in Nigeria in the Banker Magazine Top 500 Banking Brands 2020 and 2021, Number One Bank in Nigeria by Tier-1 Capital in the “2021 Top 1000 World Banks” Ranking by The Banker Magazine and the Retail Bank of the year at the BusinessDay Banks and Other Financial Institutions (BOFI) Awards 2020 and 2021.

Similarly, Zenith Bank was honoured as Bank of the Decade (People’s Choice) at the ThisDay Awards 2020 and emerged winner in four categories at the Sustainability, Enterprise, and Responsibility (SERAS) Awards 2021, carting home the awards for “Best Company in Reporting and Transparency”, “Best Company in Infrastructure Development”, “Best Company in Gender Equality and Women Empowerment”, and the coveted “Most Responsible Organisation in Africa.

Continue Reading
Advertisement


Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

Ecobank Holds Adire Lagos Experience 5.0 in June

Published

on

Ecobank Nigeria, a subsidiary of the leading Pan‑African financial services group, Ecobank Group, has announced the fifth edition of the Adire Lagos Experience, its flagship cultural and creative industry showcase. The event will take place from June 11–14, 2026, at the Ecobank Pan African Centre (EPAC), Victoria Island, Lagos.

The 2026 edition is themed “Threads Across Borders,” celebrating the depth and global resonance of Adire as a uniquely Nigerian art form, while positioning it within Africa’s broader textile and cultural narrative.

Rooted in Nigeria’s rich heritage, the Adire Lagos Experience continues to serve as a gateway for cross‑border cultural exchange, reinforcing Ecobank’s Pan‑African vision through culture‑led commerce.

The four‑day event will feature over 100 vendors, with the exhibition remaining predominantly Nigerian, reflecting the country’s leadership as the home and heartland of Adire production. To enrich diversity and continental collaboration, 10 percent of participating vendors will come from outside Nigeria, offering complementary African textile expressions and creative perspectives that foster knowledge exchange and cross‑border partnerships.

Speaking on the upcoming event, Omoboye Odu, Head, SMEs, Partnerships and Collaborations at Ecobank Nigeria, highlighted the intentional balance between cultural authenticity and Pan‑African inclusion.

“Adire is proudly Nigerian, and this platform remains firmly anchored in celebrating our local artisans and creative enterprises. At the same time, Ecobank’s Pan‑African mandate allows us to thoughtfully open the space to creators from other African markets, encouraging collaboration, shared learning, and trade connections that elevate African craftsmanship as a whole,” she said.

Beyond the exhibition booths, the Adire Lagos Experience 2026 will offer indigenous cuisine, African music and cultural performances, alongside curated networking and business engagement sessions designed to strengthen linkages across the Adire and wider creative value chain—from artisans and designers to merchants, buyers, and cultural enthusiasts.

As part of its ongoing commitment to supporting SMEs and the creative economy, Ecobank has opened registration for prospective exhibitors, with selected applicants eligible to receive complimentary exhibition booths. Applications close on April 28, 2026.

Through the Adire Lagos Experience, Ecobank continues to champion Nigeria’s cultural leadership while advancing Pan‑African collaboration—transforming heritage into enterprise and reinforcing its role as a truly Pan‑African institution driving impact beyond banking.

Continue Reading

Business

Fidelity Bank Leads in Recapitalization Drive

Published

on

As the Central Bank of Nigeria’s (CBN) recapitaliSation exercise came to an end March 31, 2026,  most banks operating in the country rose to the challenge and met the requirement ahead of time.

However, Fidelity Bank’s proactive approach paid off, and it continued to demonstrate its commitment to growth and innovation. In a remarkable display of investor confidence, Fidelity Bank opened and concluded a private placement in just one day on December 31, 2025. Leading institutions, including AFREXIM Bank and its subsidiaries, invested in the bank, showcasing their faith in Fidelity’s vision and leadership.

With the CBN’s verification process complete, Fidelity Bank’s capital base now exceeds the required N500 billion threshold. This milestone positions the bank to expand its footprint, drive growth, and deliver returns to investors.

Market analysts stated that  the successful completion of the private placement underscores strong investor confidence in the bank’s growth strategy, governance framework and long-term fundamentals, even amid tightening regulatory standards and evolving macroeconomic conditions.

The lender had announced to the investing public that it has  surpassed the N500billion regulatory capital threshold following the successful completion of a N259billion private placement of ordinary shares.

The  Company Secretary, Fidelity Bank,  Ezinwa Unuigboje  in a signed statement on Nigerian Exchange Limited (NGX) disclosed that   the private placement, conducted with the approval of the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC), was opened and closed on December 31, 2025.

According to her, the  proceeds from the exercise lifted Fidelity Bank’s eligible capital from N305.5billion to N564.5billion, subject to final regulatory approvals.

The latest capital raise positions the lender comfortably above the new minimum capital requirement of N500billion for commercial banks with international authorisation, as stipulated by the apex bank under its banking sector recapitalisation programme. According to the bank, the private placement was carried out pursuant to the mandate granted by shareholders at its Extraordinary General Meeting held on February 6, 2025.
At the meeting, shareholders authorised the board to issue up to 20 billion ordinary shares through a private placement as part of measures to strengthen the bank’s capital base and enhance its capacity to support economic growth. The N259billion raised through the private placement builds on earlier capital-raising efforts by the bank. Fidelity Bank had stolen the show by taking a bold step in June 2024, launching a Public Offer and Rights Issue to raise capital.

Fidelity Bank successfully raised N175.85billion via a combination of a public offer and rights issue, which had increased its eligible capital to N305.5billion at the time. That exercise left a capital shortfall of N194.5billion relative to the new regulatory benchmark, a gap now fully covered by the latest transaction. Fidelity Bank’s strategic moves have set it up for success, and the stage is set for the bank to make significant strides in the Nigerian banking sector.  Fidelity Bank noted that the strengthened capital position will enhance its balance sheet resilience, support business expansion, and enable it to play a more robust role in financing key sectors of the Nigerian economy, in line with regulatory expectations. The bank added that it remains focused on value creation for shareholders, prudent risk management and sustained profitability as it navigates the post-recapitalisation phase of the banking sector. Meanwhile, the stock price of Fidelity Bank closed  trading April 10, 2026 at N19.50 per share on the NGX.

Continue Reading

Business

Access Bank Wins Nigeria’s Most Valuable Brand Award for Fifth Consecutive Year

Published

on

Access Bank Plc has been named Nigeria’s Most Valuable Brand for the fifth consecutive year by Brand Finance, reinforcing its leadership position in the country’s financial services sector.

Brand Finance announced this in its Nigeria 25 2026 report, which ranks the country’s strongest brands based on brand value, brand strength, and underlying business performance. According to the report, Access Bank’s brand value stands at ₦773.2 billion, maintaining its number one ranking despite short term macro-economic and market pressures.

It attributed the marginal year-on-year decline in brand value to a deliberate strategic shift, as the Bank continues to prioritise long term growth, regional expansion, and international scale over shortterm domestic margins.

Brand Finance pointed out that Access Bank’s sustained leadership reflects a longterm brand strategy anchored on scale, trust, and regional relevance, positioning the Bank to maintain brand strength and resilience as Nigeria’s economy continues its gradual recovery and the competitive landscape evolves.

It highlighted Access Bank’s transition from a local market leader to a cross continental financial infrastructure provider, noting that stronger contributions from its African operations helped offset a decline in Nigerian income during the period. This repositioning supports the Bank’s ambition of serving as a key gateway between Africa and global financial markets.

Importantly, the Brand Finance report also recorded a strengthening of the Access Bank brand, with the Bank rising to third place nationally on the Brand Strength Index (BSI), achieving a score of 88.7/100 and retaining an AAA brand rating. Brand Finance links this improvement to stronger brand coherence across markets and clearer strategic positioning following the consolidation of international acquisitions.

Commenting, Babatunde Odumeru, Managing Director, Brand Finance Nigeria, said, a defining shift in the business environment has been the movement from survival to resilience, with brands that invested through uncertainty now emerging stronger.

“This report highlights a key trend: trust is now the fundamental driver of business growth. With consumers now more cautious about how they spend their money, brands must offer a reliability premium in order to build trust, which is an essential foundation for customer loyalty. The brands that have achieved this have not just stood out but have consistently grown their brand value and maintained their lead in the Brand Finance rankings: If you are reliable, you are valuable.”

Odumeru noted that the rankings were dominated by the banking and manufacturing sectors, driven by homegrown resilience and digital savviness required to convert engagement into customer loyalty. This dynamic, he said, reflects a collaborative strength between the two sectors that continues to underpin Nigeria’s overall brand value.

The Brand Finance Nigeria 25 report is published annually and assesses Nigeria’s leading brands using a combination of brand value, brand strength, and comprehensive market analysis.

Continue Reading