She takes over from Dr. Ebenezer Onyeagwu, whose five-year term expires on May 31, 2024, after a very successful tenure. Dame (Dr.) Adaora Umeoji is the first female GMD/CEO since the inception of the bank, and her appointment is consistent with the bank’s executive transition tradition, succession plan, and strategy of grooming leaders from within.

Prior to this appointment, Dr. Umeoji has been the Deputy Managing Director of the bank since October 28, 2016 and has close to thirty (30) years cognate banking experience of which twenty-six (26) years has been with Zenith Bank.

She is an alumnus of the prestigious Harvard Business School where she attended the Advanced Management Program (AMP) and an alumnus of Columbia Business School with a Certificate in the Global Banking Program. She holds a Bachelor’s Degree in Sociology from the University of Jos, a Bachelor’s Degree in Accounting and a First-Class honors in Law from Baze University, Abuja. She holds a Master of Laws from the University of Salford, United Kingdom, a Master in Business Administration (MBA) from the University of Calabar, and also has a doctorate in business administration from Apollos University, USA.

She holds a Certificate in Economics for Business from the prestigious MIT Sloan School of Management, USA, and has attended various management programmes in renowned Universities around the world including the strategic thinking and Management programme at Wharton Business School, USA. She also attended the executive program in Strategic Management, and has a Certificate in Leading Global Business all from Harvard Business School, USA.

She is a fellow of notable professional bodies including the Chartered Banker Institute, UK, Chartered Institute of Bankers of Nigeria, Nigerian Institute of Management, Institute of Credit Administration, Institute of Certified Public Accountants of Nigeria, Institute of Chartered Mediators and Conciliators, and the Institute of Chartered Secretaries and Administrators of Nigeria among others.

In 2022, the Federal Government of Nigeria honored Dr. Umeoji with Officer of the Order of the Niger, as a recognition of her contributions to nation building. She is a Peace Advocate of the United Nations (UN-POLAC).

She has impacted many lives through her philanthropic and humanitarian activities through her NGOs; Pink Breathe Cancer Foundation and the Adorable Foundation that educates, caters for Cancer patients and indigent children education especially the Girl-Child. Her contribution to humanity was recognized by the Sun Newspaper which recently bestowed on her the Humanitarian Service Icon Award for 2023.

As a result of her passion for promoting professionalism in the banking industry and improving the well-being of the less privileged, Dr. Adaora Umeoji, OON founded the Catholic Bankers Association of Nigeria (CBAN), a platform she uses to promote ethical banking and service to humanity.

She is a Lady of the Order of Knights of St. John International (KSJI), and was awarded a Papal Knight of the Order of St. Sylvester by His Holiness Pope Francis.

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This visionary and accomplished leader is bringing an outstanding record of accomplishments, wealth of expertise and leadership to guide the group into a new era of success.

In response to the untimely passing of the immediate past Group Chief Executive Officer of Access Holdings, Dr. Herbert Wigwe, and following extensive consultations with key stakeholders, the Holdco Board unanimously decided to invite Aig-Imoukhuede to the helm of governance.

With an illustrious career spanning several decades in the banking and finance sector, Aig-Imoukhuede has proven to be an exceptional and influential leader, having admirably laid a solid foundation for Access Bank’s success as Group Chief Executive Officer between 2002 and 2013 ably supported by his partner and deputy, the late Dr. Herbert Wigwe, who later succeeded him.

Under Aig-Imoukhuede’s leadership, Access Bank experienced remarkable growth and established itself as a trusted financial institution within the community. The bank transformed from a minor player into one of Nigeria’s top 5 banks with presence in 9 other African countries and the United Kingdom. Under his stewardship, Access Bank grew its customer base from ten thousand to over six million with more than 5,000 employees and an asset base of $12 billion, achieving numerous milestones and becoming a globally recognized name. His strategic vision, innovative thinking, and deep market insight were instrumental to shaping the Bank’s success.

Following his retirement as the Bank’s CEO in December 2013, Aig-Imoukhuede cofounded the Tengen Family Office Limited which oversees a significant portfolio of investments and businesses in banking, finance, insurance, technology, real estate, and energy. Through the Aig-Imoukhuede Foundation, he is focused on building Nigeria’s next generation of government leaders, helping transform public sector effectiveness, and improving access to quality primary health care.

The decision to bring back  Aig-Imoukhuede as the Group’s Non-Executive Chairman reflects the Board’s commitment to our core values and determination to build upon the strong foundation, he jointly established with Dr. Wigwe. With his return, Access Holdings aims to leverage his extensive experience, industry knowledge, and exceptional leadership skills to consolidate on the growth and accomplishments recorded under Dr. Wigwe’s leadership.

In his new role as Non-Executive Chairman, Mr. Aig-Imoukhuede will collaborate with the Board of Directors to oversee strategy and provide guidance to the executive management team. His return is not only a testament to his unwavering dedication to Access Group but also a clear demonstration of the Board’s confidence in his ability to lead the Group to new heights.

Speaking about his return, Abubakar Jimoh past Chairman, Access Holdings expressed his excitement, stating: “Mr. Aig-Imoukhuede’s appointment to the Board and subsequent election as Chairman is a landmark development for Access Holdings. All our board members are excited about our future’’.

Commenting on his appointment, Aig-Imoukhuede, said: “I am thrilled to be back in active service to the Access Group ecosystem. I am confident that working with our directors, our exceptional team of executives and our best-in-class banking and finance professionals, we will deliver outstanding value to our esteemed stakeholders. I am determined that our shared vision which Dr. Wigwe gave everything for, will be realized”.

The entire Access Group family, including employees, customers, and stakeholders, eagerly anticipates Aig-Imoukhuede’s return and looks forward to a promising future under his leadership. With his expertise, passion, and commitment, the Access Group is poised to embark on a new chapter of impact and sustainable success.

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The apex Bank, in exercise of its regulatory power, dissolved the Board and Management of Polaris Bank, Union Bank and Keystone Bank for violation of some sections of the Banks and Other Financial Institutions Act (BOFIA) 2020.

The new appointees are Yetunde Oni – Managing Director/Chief Executive Officer, Union Bank, with Mannir Ubali Ringim as Executive Director; Hassan Imam – Managing Director/Chief Executive Officer, Keystone Bank, with Chioma A. Mang as Executive Director, while Polaris Bank has Lawal Mudathir Omokayode Akintola as Managing Director/Chief Executive Officer, with Chris Onyeka Ofikulu as Executive Director.

CBN’s acting director, Corporate Communications, Mrs Hakama Sidi-Ali, in a statement late Wednesday, said the new appointments take immediate effect.

The apex bank had said the decision to dissolve the previous board of the affected banks became necessary due to the non-compliance of affected three banks and their respective boards with the provisions of Section 12(c), (f), (g), (h) of Banks and Other Financial Institutions Act, 2020.

“The Bank’s infractions vary from regulatory non-compliance, corporate governance failure, disregarding the conditions under which their licenses were granted, and involvement in activities that pose a threat to financial stability, among others.

“The CBN assures the public of the safety and security of depositors’ funds and remains resolute in fulfilling its mandate to uphold a safe, sound, and robust financial system in Nigeria. Our Banking system remains strong and resilient,” the spokesperson of the apex bank stated

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Also appointed to the Board of Transcorp Hotels is Adesimbo Ukiri who joins as Non-Executive Director, effective December 15, 2023.

Hailed as one of the most reform-minded heads of agency in Nigeria during his time at CAC, Abubakar worked hard to midwife the business-friendly Companies and Allied Matters Act 2020. He also led efforts to block all avenues for bureaucratic hiccups and encouraged digitalization of the agency, leading among other reforms, to the commencement of virtual Annual General Meetings in the country.

According to a filing on the Nigerian Exchange (NGX), Abubakar joins the Transcorp Hotels Board as an Independent Non-Executive Director, effective December 15.

Abubakar brings with him a wealth of experience gained over 34 years in the corporate world. His illustrious career includes a 19-year tenure at the Corporate Affairs Commission, where he held various pivotal positions, such as Director of Compliance, Special Adviser to the Registrar General, and Deputy Director of Compliance. A distinguished alumnus of Ahmadu Bello University, Zaria, Mr. Abubakar holds a law degree and was called to the Nigerian bar in 1989. He is an esteemed member of the Nigerian Bar Association, Chartered Institute of Mediators and Conciliators, and the Institute of Directors (Chartered), among others.

Ukiri, the CEO of AVON Healthcare Limited, brings her remarkable 30 years of professional experience to the Board of Transcorp Hotels Plc. She has a proven track record of driving organizational transformation and inspiring leadership teams to excel. Ukiri also serves as a Non-Executive Director on the Board of Heirs Life Assurance Ltd and is a member of the Technology and Data Committee of the Tony Elumelu Foundation. An alumna of Obafemi Awolowo University, Ile-Ife, where she obtained her law degree, Ukiri was called to the Nigerian bar in 1989. She also holds a master’s degree focused on strategy and leadership from the London Business School.

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Before Cardoso’s nomination, Folashodun Adebisi Shonubi had been in charge of the apex bank in an acting capacity following his appointment by President Bola Tinubu.

Shonubi, an economist, was the deputy (Operations Directorate) under the now-suspended CBN governor, Godwin Emefiele.⁣

Shonubi assumed office in an acting capacity on June 9, 2023, following Emefiele’s immediate suspension.

The suspension was announced in a statement issued by the Director of Information, Office of the Secretary to the Government of the Federation, Willie Bassey, who explained that the suspension of the CBN governor was based on an ongoing investigation and planned reform of the financial sector.

Shonubi assumed the position of Operations Directorate on October 17, 2018.

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The appointment, which was announced in a statement to the Nigerian Exchange (NGX) Limited, has also be confirmed by the Central Bank of Nigeria.

Ehimuan is the Founder and CEO of Beyond Limits and the immediate past Director of Google West Africa. She was named by Forbes as one of the top 20 power women in Africa, by the London Business School as one of 30 people changing the world, and as one of the Most Influential People of African Descent (MIPAD). She was also featured in the BBC Africa Power Women series, and on CNN Innovate Africa.

With over 25 years experience primarily in Technology, Oil & Gas, and New Media industries across Europe, Middle East and Africa; Juliet is a leading voice on innovation, transformation, and leadership.

During her 12-year tenure at Google, Juliet played a pivotal role in expanding the company’s presence in Nigeria and the wider West Africa region. She championed initiatives to increase digital access, local content development, skills acquisition, entrepreneurial growth, innovation, and fostered strategic partnerships with leading private sector and government institutions.

Ehimuan has made significant contributions to the tech ecosystem in Nigeria and Africa at large. She served on committees that developed the national broadband plan and ICT incubation strategy in Nigeria, and has been involved in national strategic advisory groups focused on economic growth. These engagements demonstrate her commitment to shaping the future of tech in Africa. She has received numerous awards for outstanding contribution to the digital landscape in Africa.

She holds board positions across multiple industries including Finance, FMCG, Oil & Gas, Education and social enterprises.

Her education includes a Doctoral degree in Business from Walden University in Minneapolis, an Executive MBA from the London Business School, a Postgraduate degree in Computer Science from the University of Cambridge; and a BSc in Computer Engineering (1st class honours) from the Obafemi Awolowo University, Ile-Ife. She is a recipient of the London Business School Global Women’s Scholarship, and at Cambridge University was awarded Selwyn College Scholar and Malaysian Commonwealth Scholar. She is a Fellow of the Cambridge Commonwealth Society.

She was awarded IT Personality of the Year in 2012 by the Nigeria Computer Society, Digital Personality of the year 2016 by Marketing World; and received a 2015 Titans of Technology award from Technology Africa. She is a published Author, Executive Coach, and a member of the Forbes Coaches’ Council.

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The appointment is further to the retirement of the current Board Chairman, Babatunde Kasali, who will be proceeding on retirement having attained the retirement age in line with the Bank’s Articles of Association.

In a statement signed by the Company’s Secretary/General Counsel, Johnson Lebile, Olorunshola joined the bank as a Non-Executive Director in 2022 and until her new appointment, was the Chairman, of the Board’s Nomination and Governance Committee.

“Prior to her joining the bank, Olorunshola had worked with Unilever Nigeria Plc for 15 years with experience spanning across supply chain, business re-engineering and process management. She has over 10 years of boardroom experience and business management.

“She possesses a Bsc degree in Education & Economics from the prestigious Obafemi Awolowo University, Ile Ife, a Master of Business Administration degree from University of Liverpool, UK, and a Doctorate degree in Business Administration from Walden University, USA”.

“She is a well trained professional in various aspects of business management and corporate governance practices from various training facilities such as Four Acres Training Facility, Unilever UK, FITC, Leishton Academy, H Pierson, and her work experience spans every aspect of supply chain including Business and Production Planning, Procurement, Distribution, Import and Export, and Logistics Services. She is a lover of education. Her widely read publication on small business sustainability strategies published in the Journal of Functional Education (JFEAcademia), Proquest.com, and Academia.edu, has been referenced by many scholars”.

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A statement from the school state that “We are excited to welcome our new Adjunct Faculty, Mr. Patrick Akinwuntan, to Lagos Business School. Patrick, whose teaching area is Finance, is a Chartered Accountant, Pan African Banker, and Fintech expert passionate about innovation, entrepreneurship, financial inclusion and innovation in financial services.”

Further, the statement added that “We are pleased to have Patrick join our community and share his wealth of knowledge with you.”

Before retiring in 2022, Patrick had a 26-year banking career at Ecobank and has an extensive board-level experience, including non-executive director positions.

He is currently a co-chair of the Advisory Board of the Retail Banking Council for Africa and a member of the Board of Trustees of the Fintech Association of Nigeria.

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The award, which is in recognition of his immense achievements as Group Managing Director/CEO of Zenith Bank as well as his contributions to the growth of the financial services sector in Nigeria and across the African continent, was conferred on him during the 50th convocation ceremony of the University.

Speaking during the conferment ceremony, the Vice Chancellor of the University of Nigeria, Prof. Charles Igwe, congratulated Onyeagwu for distinguishing himself in his career and for his service to humanity, which made him worthy to receive the prestigious Doctorate Degree from Nigeria’s first indigenous University. 

In his acceptance speech, Onyeagwu expressed his gratitude to the University of Nigeria for finding him a worthy recipient of the Doctorate Degree in Business Administration of one of the leading universities in Nigeria, considering the very rigorous process of selection of awardees by the institution. In his words, “for me to have been considered and to have passed through the meticulous selection process makes it the more dignifying because I have no connection with the University.”

Noting that the award represents a validation of the outstanding corporate governance, ethical leadership, and overall outstanding performance that Zenith Bank is recording, Onyeagwu dedicated the award to the board and management of Zenith, especially the Founder and Chairman, Jim Ovia,, who has remained a mentor, a leader and a source of inspiration to everyone at the Bank and beyond; the staff, for being the shoulder and proverbial base of the pyramid upon which his achievements and success as CEO of the leading financial institution in Nigeria rests; the Bank’s customers for their unflinching loyalty to the brand; and to his family for their unceasing love and support.

Presenting the citation of  Onyeagwu to the assemblage at the 50th Convocation Ceremony for the conferment of the Doctorate Degree in Business Administration, the orator of the University of Nigeria, Ikenna Onwuegbuna noted that Onyeagwu is an alumnus of Auchi Polytechnic, the University of Oxford, England and Salford Business School, University of Salford, Manchester, United Kingdom, Delta State University, Abraka. 

Also, he is an alumnus of Wharton Business School of the University of Pennsylvania, Columbia Business School of Columbia University, and the Harvard Business School of Harvard University in the United States.

 Onyeagwu is a Fellow (FCA) of the Institute of Chartered Accountants of Nigeria (ICAN), a Fellow of the Nigerian Institute of Management (NIM), The Chartered Institute of Bankers of Nigeria (CIBN), the Institute of Credit Administrators (ICA) and Senior Associate Member, Risk Management Institute of Nigeria (RIMAN).

 Onyeagwu is the Chairman of the Body of Banks’ Chief Executive Officers, Nigeria and Chairman of Zenith Pensions Custodian Limited and Zenith Nominees Limited. He is also on the Board of Zenith Bank (UK) Limited, FMDQ Holdings Plc and Lagos State Security Trust Fund (LSSTF). Ebenezer Onyeagwu is a member of the International Monetary Conference (IMC), the Wall Street Journal CEO Council, member of the African Trade Gateway Advisory Council of the Africa Export-Import Bank (Afreximbank), and member of the Governing Council of the Chartered Institute of Bankers of Nigeria (CIBN). He also served on the board of Zenith Bank Ghana Limited, Zenith General Insurance, Zenith Securities Limited, Zenith Assets Management Company, Zenith Medicare Limited, and Africa Finance Corporation (AFC).

Onyeagwu’s track record of excellence has also seen him win several individual awards, including being named Bank CEO of the Year (2019) by Champion Newspaper, Bank CEO of the Year (2020, 2021 & 2022) by BusinessDay Newspaper, CEO of the Year (2020 and 2021) – SERAS Awards, and CEO of the Year (2022) – Leadership Newspaper.

Other recipients of  Doctorate Degrees at the 50th convocation ceremony include former Governor of Delta State, Emmanuel Uduaghan, who was conferred with the Doctor of Public Administration, and the Chairman of Hobark International Limited, Obiora Fubara, who received the Doctor of Business Administrat ion. A retired Justice of the Supreme Court of Nigeria, Justice Mary Odili, was conferred with the Doctor of Law; however, her conferment was deferred to a later date because she was unavoidably absent at the ceremony.

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