{"id":112147,"date":"2024-05-26T17:37:07","date_gmt":"2024-05-26T16:37:07","guid":{"rendered":"https:\/\/pointblanknews.com\/pbn\/?p=112147"},"modified":"2024-05-26T17:37:07","modified_gmt":"2024-05-26T16:37:07","slug":"how-n430bn-zenith-bank-loss-caused-ovia-onyeagwus-rift","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/exclusive\/how-n430bn-zenith-bank-loss-caused-ovia-onyeagwus-rift\/","title":{"rendered":"How N430bn Zenith Bank loss Caused Ovia, Onyeagwu\u2019s rift"},"content":{"rendered":"
\n
By Bayo Davids<\/div>\n
\n
\nEbenezer Onyeagwu was in line for another five year tenure as Group Managing Director of Nigeria\u2019s leading Money Deposit Bank, the Zenith Bank Nigeria PLC before providence stopped him in his tracks<\/p>\n

Our correspondent gathered that in 2023, the ex-GMD, a cousin of Ovia, incurred a staggering N430bn impairment, resulting in a major financial loss to the financial powerhouse.<\/p>\n

Sources told this medium that even though Zenith Bank declared over N600billion in profit, the loss of N430billion through impairment exposed Onyeagwu\u2019s incompetence, pitching him against Ovia who was said to have been livid when the numbers came in.<\/p>\n

It was gathered that the Risk Management Unit of the bank headed by a trusted ally of Onyeagwu, did a shoddy job in not protecting the Bank from such huge loss.<\/p>\n

Since his removal, Onyeagwu has been at loggerhead with Ovie and making life unbearable for the new GMD, Adaora Umeoji whose rein is expected to kick off in a few days.<\/p>\n

Aware of the imminent announcement of Umeoji for the plum seat, Onyeagwu and Godwin Emefiele had moved to stop Ovia but their efforts were too little, too late.<\/p>\n

Dame\u00a0 Adaora Umeoji, whose tenure kicks off on June 1, 2024,\u00a0 is the first female GMD\/CEO since the inception of the bank, and her appointment is consistent with the bank\u2019s executive transition tradition, succession plan, and strategy of grooming leaders from within.<\/p>\n

An incredibly down to earth professional, Dr. Umeoji was the Deputy Managing Director of the bank since October 28, 2016 and has close to 30 years cognate banking experience of which twenty-six (26) years has been with Zenith Bank.<\/p>\n

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.<\/p>\n

She holds a Bachelor\u2019s Degree in Sociology from the University of Jos, a Bachelor\u2019s Degree in Accounting and a First-Class honors in Law from Baze University, Abuja.<\/p>\n

She also 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 a doctorate in business administration from Apollos University, USA.<\/p><\/div>\n<\/div>\n

<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

By Bayo Davids Ebenezer Onyeagwu was in line for another five year tenure as Group Managing Director of Nigeria\u2019s leading Money Deposit Bank, the Zenith Bank Nigeria PLC before providence…<\/p>\n","protected":false},"author":1,"featured_media":112148,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[17],"tags":[],"class_list":["post-112147","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-exclusive"],"yoast_head":"\nHow N430bn Zenith Bank loss Caused Ovia, Onyeagwu\u2019s rift - Pointblank News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pointblanknews.com\/pbn\/exclusive\/how-n430bn-zenith-bank-loss-caused-ovia-onyeagwus-rift\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How N430bn Zenith Bank loss Caused Ovia, Onyeagwu\u2019s rift - 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