Zenith Bank has announced the re-appointed ame (Dr) Adaora Umeoji as the Deputy Managing Director of the bank.
BrandSpur Nigeria reports the announcement was made in a notice filed with the Nigerian Exchange Limited (NGX) on Friday.
The re-engagement is effective August 2, 2023.
The notice said that the Central Bank of Nigeria (CBN) had given its “no objection” to the re-engagement.
Recall that the bank had earlier announced the retirement of Umeoji as its DMD in February this year in compliance with new 10-years tenure limits for banks’ executives released by the CBN under the suspended Governor of the apex bank, Godwin Emefiele.
But in a recent update, the CBN reviewed the tenure of executive directors (ED), Deputy managing directors (DMD), and managing directors (MDs) of Banks and Bank Holding companies.
According to the new approved guidelines, the cumulative tenure limit of directors (ED, DMD, MD, and NEDs) on the Board of the same bank is twenty-four (24) years. It was 20 years in the previous regulation.
Dr. Umeoji, a quintessential banker boasts of over 20 years of experience in banking and executive management.
Biography of Adaora Umeoji
Dame (Dr.) Adaora Umeoji OON is the Deputy Managing Director of Zenith Bank Plc, boasting over 20 years of experience in banking and executive management.
She holds multiple degrees, including a doctorate in Business Administration, and has completed prestigious programs at Harvard Business School, Columbia Business School, and MIT Management Sloan School.
As a fellow of various professional bodies, she is recognized for her significant contributions to leadership and people management.
Dr Adaora Umeoji is an esteemed speaker at academic conferences and has delivered thought-provoking lectures on financing growth drivers in Nigeria’s economy.
As a testament to her dedication to professionalism and humanitarian efforts, she founded the Catholic Bankers Association of Nigeria (CBAN) to promote ethical banking and service to humanity.
Additionally, she holds titles as a Peace Advocate of the United Nations and a Lady of the Order of Knights of St. John International.
Recently, she was honoured with the national award of Officer of the Order of the Niger (OON) by President Muhammadu Buhari for her contributions to nation-building.
What You Should Know About Adaora Umeoji
Recall that Zenith Bank Plc earlier announced the retirement of Dr Adaora Umeoji as the Deputy Managing Director of the bank.
Her initial retirement was following the new CBN regulatory guidelines that put a timeline on the cumulative number of years senior bank officers could occupy executive board positions.
The CBN recently issued a new regulatory guideline specifying the new tenure limits for bank MDs, Deputy MDs and directors.
Specifically, the guidelines, among other conditions, stipulate that the tenure of Executive Directors (EDs), Deputy Managing Directors (DMDs) and Managing Directors (MDs) shall be by the terms of their engagement approved by the Board of Directors of the banks, subject to a maximum tenure of ten (10) years.
Tenure Extension
In a recent update, The Central Bank of Nigeria revised the tenure of executive directors (ED). Deputy managing directors (DMD), and managing directors (MDs) of Banks and Bank Holding companies.
According to the approved guidelines seen by Nairametrics, the cumulative tenure limit of directors (ED, DMD, MD, and NEDs) on the Board of the same bank is twenty-four (24) years. It was 20 years in the previous regulation.
