Zenith Bank’s corporate governance Award, well-deserved honour-Shareholders

COMFORT EKELEME, Business Editor

Major Shareholders of Zenith Bank Plc, has linked the recent award won by the bank as a positive reaction on what the bank stands for and what they have been doing to customers and society at large.

For the fourth consecutive year, Zenith Bank was named as the Best Corporate Governance ‘Financial Services’ Africa 2023 by the Ethical Boardroom.

In an interview with Daily Champion, National Coordinator, Progressive Shareholders Association of Nigeria (PSAN), Boniface Okezie said in terms of dividend payout, capital appreciation, stakeholders that invested in the bank have been enjoying great hospitality from Zenith Bank.

He said, good services rendered by the bank are among the things that attracted the award.

According to him, Corporate Social Responsibility (CSR) is one of the criteria used in recognizing institutions, adding that Zenith Bank has been doing well in that regard.

“Zenith Bank since inception, has done well in giving back to the society, and it a positive one to investors. At the international Market, Zenith Bank will be rated high because despite the harsh economic situation in Nigeria, it is among the institutions that are doing very well.

“It is a sign that something good can still come out of Nigeria notwithstanding the poor leadership we are having in Nigeria. Kudos to the Board and Management of the Bank,” he said.

Also speaking, President, Pragmatic Shareholders Association, Mrs. Bisi Bakare told Daily Champion that what determines all these awards are the results posted by the bank.

She noted that the bank if the bank continues with good performances, it will continue to get awards.

“Zenith Bank has consistently paid dividend to shareholders over the years, there is no year that shareholders have not gotten dividend. In terms of CSR, Zenith Bank is doing very well. Look at Ajose Adeogun for instance, and see what the bank is doing there.

“They really deserve the award and I will just hope that they will not relent on that. They should improve on it,” she said.

The Best Corporate Governance ‘Financial Services’ Africa 2023 by the Ethical Boardroom, which was published in the Spring 2023 edition of The Ethical Boardroom magazine, is in recognition of the bank’s adherence to global best practices and institutionalization of corporate governance, setting an industry-wide example of best practices in that field.

Speaking on the recognition, the Group Managing Director/Chief Executive Officer of Zenith Bank Plc, Dr. Ebenezer Onyeagwu, said: “I am extremely pleased that Zenith Bank has been awarded the Ethical Boardroom Corporate Governance Award as a regional governance champion for the fourth year running. No doubt, the bank’s board has pioneered the exemplary governance culture for which we are now renowned. Indeed, this recognition reflects our steadfast commitment, discipline and high ethos in the conduct of our business and dedication to the principles of good corporate governance.

“This award will motivate us to strengthen this culture internally and advocate for good governance at every forum”.

He dedicated the award to the Founder and Group Chairman, Jim Ovia, CFR, for providing the template for an enduring and very successful institution; the Board for their vision and outstanding leadership; the staff for their dedication and commitment; and the bank’s customers for their unwavering loyalty to the brand.

Ethical Boardroom is a trailblazing and leading international magazine that delivers in-depth coverage and critically-astute analysis of global corporate governance issues to help boards stay ahead of the governance curve.

Zenith Bank has been generally adjudged a Corporate Governance compliant bank by the Nigerian Exchange (NGX) hence its listing on the Premium Board of the Exchange.

The bank continues to sustain this reputation and reappraise its processes to ensure that its business conforms to the highest global standards at all times.