Managing Director of Zenith Bank Plc, Adaora Umeoji
Zenith Bank’s CEO, Adaora Umeoji, has just spent about N3.3 billion to purchase 68.8 million units of Zenith Bank, according to the bank’s disclosure on the floor of the Nigerian Stock Exchange.
Before her recent investment, she owned about 90.2 million shares of Zenith Bank, with an additional 1.7 million indirect units, all worth N4.32 billion.
For Adaora, this move is more than an investment; it is a vote in the future of the bank that she leads as the CEO, a bank that she joined as a corper in 1998.
She was the highest-paid employee in the Nigerian banking industry for the year 2024.
She earned N874 million in 2024. So, she makes money from both ways in Zenith Bank, her income from the salary the bank pays her and her dividend earnings from her investment and the shares she has in the bank.
A reminder that you can be a billionaire and your life can change as a 9-to-5 in Nigeria.
Business Hilights recalls that other bank chief executives and even chairmen had done similar smart move all to remain and retain conmanding shares to avoid a hostile takeover by a smarter entity after all.
*Credit: Chukwudi Iwuchukwu
