
Nigeria’s richest banker Jim Ovia gains $11.6 million as Zenith Bank completes public offer
This increase highlights the strong performance of the Lagos-based lender and the confidence investors have in its prospects.
This increase highlights the strong performance of the Lagos-based lender and the confidence investors have in its prospects.
This milestone solidifies Zenith’s position as one of Nigeria’s top-capitalized financial institutions.
This follows a tough 2024 marked by Nigeria's currency devaluation and economic challenges that weakened Ovia's investments.
The devaluation of the Naira has eroded nominal gains, reflecting the impact of currency depreciation on wealth accumulation.
Zenith Bank opens its new Paris branch, marking a major step in expanding into Francophone Africa and strengthening trade ties between Africa and France.
Jim Ovia’s wealth soars, solidifying his position as Nigeria’s richest banker
Zenith Bank, Nigeria’s leading financial institution, achieves a remarkable 99-percent profit growth, reaching N1 trillion ($604.3 million) in the third quarter of 2024, driven by robust interest income and strategic investments despite challenging economic conditions.
Umeoji holds 91,710,123 shares in Zenith Bank, including 90 million directly and 1,710,123 through Palais Vendome Limited.
Ovia, the founder and chairman of Zenith Bank, holds a controlling stake of 16.2 percent — equivalent to 5,082,800,739 shares.
Zenith Bank's half-year profit surges 98%, bolstered by robust interest income and trading income growth