Two directors of Zenith Bank Plc (NSE ticker – ZENITHBANK) has acquired additional shares in the company. Both directors purchased an aggregate volume of 3 million shares of the bank amounting to more than N51.00 million.
Ebenezer Onyeagwu, the Group Managing Director/Chief Executive increased his stake in Zenith Bank Plc by 1 million units at an aggregate price of N17.05 per share
The transaction which occurred on 16 September 2020 at the Nigerian Stock Exchange Lagos was executed in two tranches of 500,000 units each according to the notification of share dealing by insider issued by the company to the NSE.
Onyeagwu held 45.5 million units as at 31 December 2019. If he held his position without any changes, the latest acquisition will increase his holdings to 46.5 million units.
Ahmed Umar Shuaib an Executive Director, in a separate deal on 16 September acquired 2 million units of Zenith bank shares at aggregate price of N16.99.
Shuaib held 7,577,343 units of Zenith Bank shares as at 31 December 2019. Barring any changes in the position held, the recent transaction would increase in holdings to 9,577,343.
Both directors made this these purchases on Zenith Bank’s interim dividend qualification date, 16 September 2020.
Dennis Olisa, an Executive Director in Zenith Bank Plc also increased his stake via the acquisition of 2 million units of the company shares.
Profile of Ebenezer Onyeagwu
Ebenezer Onyeagwu was appointed as the Group Managing Director/CEO of Zenith with effective date of June 1, 2019.
Mr. Onyeagwu is a graduate in accounting from Auchi Polytechnic. He obtained the Higher National Diploma in Accounting from the institution in 1987.
He has over 29 years of experience in the banking industry in Nigeria, out of which he spent 17 in Zenith Bank Plc. Before joining Zenith Bank Plc, he worked at Citizens International Bank Limited between 1991 and 2002.
He joined Zenith Bank Plc in 2002 as a Senior Manager, in the Internal Control and Audit Group of the bank. He rose between 2003 and 2005, first, as Assistant General Manager, then Deputy General Manager, and eventually, General Manager of the bank.
He was appointed Executive Director of the bank in 2013, and put in charge of Lagos and South-South Zones as well as strategic groups/business units of the bank among others.
Mr. Onyeagwu was named Deputy Managing Director of the bank in 2016.
He is an alumnus of University of Oxford, England, from where he obtained a Postgraduate Diploma in Financial Strategy, and a certificate in Macroeconomics. He also undertook extensive executive level education in Wharton Business School of the University of Pennsylvania, Columbia Business School of Columbia University, the Harvard Business School of Harvard University, in the United States.
At Wharton Business School, Mr. Onyeagwu undertook the CEO academy and leadership training programmes.
Profile of Umar Shuaib Ahmed
Umar Shuaib Ahmed started his banking career in 1993 with Nigeria International Bank (Citibank) and left in 2001. between 2001 and 2006, he worked with Liberty Bank and Broad Bank before joining Zenith Bank Plc in June 2006.
He graduated in 1990 from Ahmadu Bello University Zaria with a Bachelor’s Degree in Accounting and thereafter obtained an M.Sc in Banking and Finance from Bayero University Kano in 1998.
Prior to his appointment as an Executive Director in Zenith Bank, he was a General Manager responsible for private sector businesses in the Abuja region as well as supervising some branches in the northwest and northeastern regions of the bank.
He has attended several local and international courses at renowned institutions including London Business School and Harvard. He is a Fellow of the Nigerian Institute of Management; Fellow, Chartered Institute of Loan and Risk Management; Senior Honorary Member, Chartered Institute of Bankers; and Member, Association of National Accountants of Nigeria