Zenith Bank approves ₦10.00 dividend, as Mustafa Bello succeeds Jim Ovia as Chairman

At its 35th Annual General Meeting (AGM) held on May 5, 2026, Zenith Bank Plc reached a historic milestone, approving a total dividend of ₦10.00 per share for the 2025 financial year.

This 100% increase from the previous year translates to a total payout of ₦410.69 billion, following a final dividend approval of ₦8.75 per share.

The meeting also marked a significant leadership transition as Zenith Bank Founder, Jim Ovia formally retired as Chairman after completing the mandatory 12-year tenure stipulated by Central Bank of Nigeria (CBN) corporate governance guidelines.

The Board also appointed Engr. Mustafa Bello—the Bank’s longest-serving Non-Executive Director and former Federal Minister of Commerce as his successor.

Mr. Ovia expressed confidence in Engr. Bello, citing his deep understanding of the Bank’s culture and operations since joining the Board in 2017.

Zenith Bank’s 2025 financial performance underscored its position as a market leader, becoming the first Nigerian bank to record Profit Before Tax (₦1.26 trillion) and Profit After Tax (₦1.04 trillion) above the ₦1 trillion mark for two consecutive years. Gross earnings grew to ₦4.19 trillion, while total assets expanded by 11% to approximately ₦51.6 trillion.

Commenting, the Group Managing Director/CEO, Dame Dr. Adaora Umeoji reaffirmed the Bank’s commitment to superior shareholder returns, noting that the quantum leap in dividends fulfills promises made during the 2025 transition.

Shareholders, represented by various associations, lauded the Bank’s robust succession planning and prudent risk management, which saw the non-performing loan (NPL) ratio moderate to 3.82%.