The Nation Newspaper

Tag: Onyeagwu

  • Zenith Bank’s Onyeagwu becomes chartered stockbroker

    Zenith Bank’s Onyeagwu becomes chartered stockbroker

    The Chartered Institute of Stockbrokers (CIS) has inducted Group Managing Director of Zenith Bank Plc, Dr Ebenezer Onyeagwu as an Associate Member.

    CIS, a self-regulatory body, is the statutory regulatory body for the practice of stockbroking in Nigeria. Stockbrokers are the largest professional group in the Nigerian capital market.

    At the induction ceremony in Lagos, President, Chartered Institute of Stockbrokers (CIS), Mr Oluropo Dada, commended Onyeagwu for passing the institute’s professional examination in flying colours, despite his tight schedule.

    He urged the retiring chief executive of Zenith Bank to serve on one or more committee’s of the institute to deploy his wealth of experience for the growth and development of stockbroking profession in Nigeria.

    “I hereby confirm that our inductee today, has gone through the rigours of sitting for, and passing the professional examinations of the Chartered Institute of Stockbrokers. That exam is widely regarded as one of the toughest in the world.

    “Not only that, he has gone through intense practical internship under highly respected senior colleagues, during which he demonstrated a high degree of competence as an investment analyst, with a trustworthy character that makes him stand out as an ethical professional that can be trusted by investors in Nigeria and abroad.

    Read Also: President condoles with Jimi Agbaje over son’s death

    ” In the stockbroking profession, the first rule is integrity and our tenet is : My word is my bond . We know you are already familiar with this principle, having had an illustrious banking career. but it is my duty as the  president of the institute, to remind you that there is no place for rascality in the stockbroking profession,” Dada said.

    Onyeagwu expressed appreciation to the institute and promised  to abide with the ethics of the profession.

    He noted that the Nigerian capital market has a lot of opportunities to  be tapped.

    ” We will  work together to deepen the  market and support market literacy  too,” Onyeagwu said.

    A banker and financial  expert, Onyeagwu, trained in  Nigeria, United Kingdom and United States of America. He is a graduate of Accounting from Auchi Polytechnic where he obtained the Ordinary National Diploma in 1984 and Higher National Diploma in 1987.  He qualified as a Chartered Accountant in 1989 while he was still undergoing the compulsory National Youth Service Corp (NYSC) post graduation and was named a Fellow of the Institute of Chartered Accountants of Nigeria (FCA) in 2003. He is an alumnus of the prestigious University of Oxford, England, from where he obtained a Postgraduate Diploma in Financial Strategy, and certificate in Macroeconomics amongst others.

    There were outpouring of goodwill messages from eminent Nigerians , including Alhaji Aliko Dangote, Mr Jim Ovia and Chief Executive Officer, FMDQ, Mr Bola Onadele.Koko

  • Ebenezer Onyeagwu’s sustaining power

    Ebenezer Onyeagwu’s sustaining power

    Dr. Ebenezer Onyeagwu, the miracle-working banker and chief executive officer of Zenith Bank has continued to prove cynics wrong for many reasons.

    His lofty ideas have transformed the bank into a profit-maximising venture and an impressive customer-friendly entity laced with innovations that put the bank high among global competitors.

    When he was to be announced as the head honcho of the bank, some people kicked against it but those who supported him and staked their integrity based on his previous track records and his ability to deliver are currently having the last laugh.

    After he took charge of the bank; he realized that no man is an island so he created a conducive working environment with a good team playing spirit which was possible for him to achieve resounding success, especially during the pandemic when most banks were counting their losses and laying off their huge workforce due to their inability to pay salaries. A few weeks ago, Zenith released its unaudited results for the third quarter (Q3) which ended September 30, 2023, under his watch the bank recorded a remarkable triple-digit growth of 114 per cent from N620.6 billion reported in Q3 2022 to N1.33 trillion in Q3 2023. According to the Q3 financial results presented to the Nigerian Exchange (NGX), the Group recorded a 149 per cent year-on-year (YoY) increase in profit before tax, growing from N202.5 billion in Q3 2022 to N505 billion in Q3 2023.

    Read Also: Sanwo-Olu donates 300 vehicles to security agencies

    Under Onyeagwu’s watch, Zenith Bank’s profit after tax also grew remarkably by 149 per cent from N174.3 billion to N434.2 billion in the same period. The growth in the top line arose from both interest income and non-interest income. Interest income grew in the current period by 72 per cent to N670.9 billion from N390.8 billion in Q3 2022, while non-interest income grew by 186 per cent, from N212 billion to N607.2 billion. The impressive end-of-the-year performance has demonstrated the Group’s resilience and strong market share despite a very challenging macroeconomic environment among other factors but Onyeagwu we gathered has received vote-of-confidence from shareholders to continue the good work to further place the bank on winning ways in the first quarter of 2024.