Ebenezer Onyeagwu remains GMD —Zenith Bank

Zenith Bank on Tuesday addressed the confusion surrounding its leadership after a document hinted that the Group Managing Director, Ebenezer Onyeagwu, had exited his position.

A trading document put out by the company had disclosed that Okoh bought N2.31 million worth of shares, and Zenith Bank identified him as the GMD/Chief Executive, which translates to Onyeagwu stepping down.

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Okoh joined the board of directors at Zenith Bank in April 2022, and had held the position of Non-Executive Director until he was addressed as GMD in the document dated December 19. He also had no previous share record until he acquired some on December 13.

However, in a statement, Zenith Bank admitted that the company erroneously described Okoh as its Group Managing Director in the share dealing document.

In the statement signed by the company’s secretary, Michael Otu, Zenith Bank said Onyeagwu remains its Group Managing Director and Chief Executive Officer.

It explained that the “document inadvertently referred to Chuks Emma Okoh as Managing Director instead of Non-Executive Director,” adding that “this was an error which has been corrected with the erroneous filing pulled down from the portal.”

The statement added, “For emphasis, Mr. Ebenezer Onyeagwu remains the Group Managing Director/Chief Executive of Zenith Bank Plc while Mr. Chuks Okoh is a Non-Executive Director.”