HomePoliticsPoliticsAdaora Umeoji Named First Female CEO Of Zenith Bank

Adaora Umeoji Named First Female CEO Of Zenith Bank

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Anambra born Adaora Umeoji, Zenith Bank Plc has announced as its first female Group Managing Director.

The company secretary, Michael Otu, disclosed this in a statement filed with the Nigerian Exchange Limited on Tuesday.

Umeoji will take over from the current GMD, Dr. Ebenezer Onyeagwu, whose time in office expires on May 31.

Accordingly, Umeoji’s tenure is expected to take off on June 1, 2024.

The Eastern Updates reports that until her appointment, Umeoji had been the bank’s deputy managing director since October 28, 2016.

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“Dame (Dr.) Adaora Umeoji is the first female GMDCEO since the bank’s inception, and her appointment is consistent with the bank’s executive transition tradition, succession plan, and strategy of grooming leaders from within,” part of the statement reads.

In another report, the Government of Abia State has attracted $125m in funding from the Islamic Development Bank (ISDB) for road projects in the state.

Consequently, the $125m is allocated to the Integrated Infrastructure Development Project, a project which was launched in 2023 by the State Governor, Dr Alex Otti.

President and Group Chairman of IsDB, H.E. Dr Muhammad Al Jasser, approved the funding at the 354th meeting of the Board of Executive Directors which was held over the weekend.

The Eastern Updates reports that at the meeting, the bank approved $225m in funding approval for development projects aimed at fortifying socio-economic growth and sustainability across key sectors.

The IsDB also approved a $100M Pengerang Energy Complex Project (PEC) for Malaysia under the Bank’s Public Private Partnership program.

IsDB said, “Nigeria secured a US$125 million financing package to contribute to the Abia State Integrated Infrastructure Development Project.

“The project aims to reduce travel times and costs along key roads, while also improving access to markets and social services for local communities.

“Additionally, the project will enhance overall mobility by ensuring safe and accessible transportation for all residents, including vulnerable groups.”

The IsDB Group reaffirmed its commitment to supporting member countries’ pursuit of prosperity and achieving their Sustainable Development Goals.

Africa Today News, New York

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