The new Central Bank of Nigeria (CBN) directive on the tenure of commercial bank directors has forced Zenith Bank Plc’s deputy managing director, Mrs. Adaora Umeoji, to resign from the board.
The apex bank recently issued a circular directing director on bank boards to retire after 20 years on the job.
Zenith Bank issued a statement on Thursday, March 2, 2023, announcing that its DMD has retired from the board of directors effective February 24, 2023, in accordance with the new development.
We write to notify the Nigerian Exchange (NGX) Limited and the investing public of the retirement of Dame (Dr) Adaora Umeoji from the board of Zenith Bank Plc with effect from February 24, 2023.
This follows the expiration of her tenure of office as Deputy Managing Director in line with the Central Bank of Nigeria (CBN) circular No. FPR/DIR/PUB/CIR/011/070 dated February 24, 2023.
The board wishes her success in her future endeavours, the statement signed by the bank’s secretary, Mr Michael Otu, said.
Mrs. Umeoji is a seasoned banker and the founder of the Catholic Bankers Association of Nigeria. She earned her bachelor’s degree at the University of Jos, an MBA at the University of Calabar, and a doctorate at Apollos University.
She also serves on the board of Palais Vendome Limited and is a member of the Chartered Institute of Bankers of Nigeria, the Nigerian Institute of Management, the Institute of Credit Administration, the Institute of Certified Public Accountants of Nigeria, and the Institute of Chartered Mediators & Conciliators.
