Onyeagwu out? Zenith Bank names Chuks Okoh as GMD
December 20,2022
Ebenezer Onyeagwu, the Group Managing Director and Chief Executive Officer of Zenith Bank Plc, may have stepped down from his position, and Chuks Emma Okoh may have taken over.
Although Zenith Bank has not officially announced Onyeagwu’s exit, but according to the firm’s trading document obtained by Ripples Nigeria, Chuks Okoh was described as the lender’s GMD and Chief Executive
Onyeagwu had been the GMD and CEO of Zenith Bank in the last four years, since he was appointed in June 2019 and confirmed by the Central Bank of Nigeria (CBN).
With the document indicating Onyeagwu’s exit, it means he didn’t serve up to the maximum tenure of ten years. His predecessor, Peter Amangbo had also served five years as GMD/CEO.
Prior to this document indicating Okoh as Zenith Bank’s GMD and Chief Executive, he was described as a Non-Executive Director by the commercial bank in its Second Quarter Financial Statements for 2022.
In the document dated December 19, it was gathered that Okoh, who was appointed into the Board on April 12, 2022, had parted with N2.31 million to acquire 102,697 units of shares on December 13, 2022.
Okoh previously didn’t own any shares in Zenith Bank, while surprisingly, Onyeagwu had been increasing his stake at the firm from seven million direct shares (N178.85 million) in 2017 to 80.17 million as of June 2022 ((worth N1.92 billion as of December 20
