Zenith Bank To Exit CBN’s Regulatory Forbearance By 30th June, Assures Shareholders Of Continued Dividend Payout

Zenith Bank Plc, Nigeria’s biggest bank by Tier-1 Capital, has assured shareholders and investors of its readiness to satisfy all relevant conditions to exit the Central Bank of Nigeria’s (CBN) regulatory forbearance by June 30, 2025. The bank also expressed confidence in meeting shareholders’ dividend expectations in the 2025 financial year.

The clarification comes from heightened scrutiny of Nigerian banks’ capital health following the new CBN directive that suspends dividend payments and tightens oversight for banks with outstanding forbearance-related loans or breaches of the Single Obligor Limit (SOL).

In a statement presented to the Nigeria Exchange (NGX) Group on Tuesday, June 17, 2025, the Bank stated that its exposure under the Single Obligor Limit (SOL) forbearance relates solely to a single obligor, pointing out that this exposure will be brought within the applicable regulatory limit on or before June 30, 2025. The bank also confirmed that the forbearance granted on other credit facilities applies to only two (2) of its customers, noting that it has made substantial provisions regarding these facilities and taken appropriate and comprehensive steps to ensure full provisioning by June 30, 2025.

The bank further emphasized its strong financial footing, stating that it has successfully raised and surpassed the new regulatory capital requirement of N500 billion, and is therefore well-positioned to continue delivering value to all its key stakeholders.

Zenith Bank has continued to distinguish itself in the Nigerian financial services industry through superior service offerings, unique customer experience, and sound financial indices. The bank has remained a clear leader in the digital space with several firsts in the deployment of innovative products, solutions, and an assortment of alternative channels that ensure convenience, speed, and safety of transactions.

The Bank’s track record of excellent performance has continued to earn the brand numerous awards, including being recognized as the Number One Bank in Nigeria by Tier-1 Capital for the fifteenth consecutive year in the 2024 Top 1000 World Banks Ranking, published by The Banker Magazine. The Bank was also awarded Bank of the Year (Nigeria) in The Banker’s Bank of the Year Awards for 2020, 2022, and 2024; Best Bank in Nigeria from 2020 to 2022, 2024, and 2025, in the Global Finance World’s Best Banks Awards; Best Bank for Digital Solutions in Nigeria in the Euromoney Awards 2023; and was listed in the World Finance Top 100 Global Companies in 2023.

Further recognitions include Best Commercial Bank, Nigeria, for four consecutive years from 2021 to 2024 in the World Finance Banking Awards, and Most Sustainable Bank, Nigeria, in the International Banker 2023 and 2024 Banking Awards. Additionally, Zenith Bank has been acknowledged as the Best Corporate Governance Bank, Nigeria, in the World Finance Corporate Governance Awards for 2022, 2023, and 2024, and ‘Best in Corporate Governance’ Financial Services, Africa for four consecutive years from 2020 to 2023 for the Ethical Boardroom.

The Bank’s commitment to excellence saw it being named the Most Valuable Banking Brand in Nigeria in the Banker Magazine Top 500 Banking Brands for 2020 and 2021, Bank of the Year 2023 and 2024 at the BusinessDay Banks and Other Financial Institutions (BAFI) Awards, and Retail Bank of the Year for three consecutive years from 2020 to 2022 and in 2024 at the BAFI Awards. The Bank also received the accolades of Best Commercial Bank, Nigeria, and Best Innovation in Retail Banking, Nigeria, in the International Banker 2022 Banking Awards.

Zenith Bank was also named Most Responsible Organisation in Africa, Best Company in Transparency and Reporting, and Best Company in Gender Equality and Women Empowerment at the SERAS CSR Awards Africa 2024; Bank of the Year 2024 by ThisDay Newspaper; Bank of the Year 2024 by New Telegraph Newspaper; and Best in MSME Trade Finance, 2023 by Nairametrics. The Bank’s Hybrid Offer was also adjudged ‘Rights Issue/ Public Offer of the Year’ at the Nairametrics Capital Market Choice Awards 2025.

ZENITH BANK WINS BEST BANK IN NIGERIA IN THE GLOBAL FINANCE BEST BANKS AWARDS 2025

Inclusive Education in Action, Union Bank Sponsors Mathematics Competition for Hearing Impaired Students

Lagos, Nigeria— Union Bank of Nigeria, through UnionCares, an arm of its Corporate, Sustainability and Innovation Initiative, recently sponsored the Ajofa Special Education Foundation for the Deaf Mathematics Competition held at the Wesley School for the Hearing Impaired at Surulere Lagos, Nigeria, with the theme “Impacting Deaf Students and Life with Mathematics in Nigeria.”

The Mathematics Competition had in attendance representatives from Union Bank, the Lagos State Education Board, Principals of Schools, and teachers. Ten competitors, drawn from different schools within and outside the deaf community in Lagos, participated in the programme.

The competition, a collaboration between Union Bank and the Ajofa Foundation, aimed to close the gap in inclusive education by creating opportunities for learners with hearing impairments to showcase their academic abilities and intellectual potential.

Speaking about the event, Olufunmilola Aluko, the Chief Brand and Marketing Officer at Union Bank of Nigeria, said,
“At Union Bank, we believe that development must be inclusive. That’s why, through our UnionCares initiative, we continue to invest in meaningful partnerships and platforms like this. We also commend the brilliant students on display today, who have demonstrated that their circumstances do not define them. Rather, they are writing a new story that says disability is not inability. They are mathematicians, thinkers, and problem-solvers whose wisdom whispers and reshapes the world positively”.

Francis Ajomiwe, the Founder and Executive Director for the Ajofa Special Education Foundation for the Deaf, who communicated through an interpreter, expressed appreciation to Union Bank.

He said, “I’m grateful to Union Bank for their Sponsorship of this competition, helping bring our dreams to life. Through the Foundation, we are contributing our share to the overall goals of enhancing the educational experience and developing the deaf community. This we have been committed to upholding through organising education programmes and projects that benefit the deaf community”.

The Lagos State Education Authority, from its School Support Section, was represented by Bukunola Famakinwa, who, during her speech, emphasised the importance of the initiative on deaf learners and their community, stating that, “Deaf learners face unique challenges in accessing quality education, and mathematics is no exception. However, they can excel in mathematics and beyond with the right approach and support.” She emphasised the importance of mathematics as it empowers learners to “make informed decisions, solve problems, and participate fully in society.”

She urged the community to collaborate with the deaf community to create an inclusive education system that supports deaf learners in Nigeria.

The top three winners of the competition were Samuel Megbodofo, Tomilola Shonubi, and Opeoluwa Saka, who finished in first, second, and third place, respectively. The winners, who came from different schools for the hearing impaired competition, received branded gifts from the Bank, among other prizes.

The rest of the competitors, learners and teachers were also not left out as they, too, were gifted branded items from Union Bank.

Note to Editors:
About Union Bank of Nigeria:
Established in 1917 and listed on the Nigerian Stock Exchange in 1971, Union Bank of Nigeria is a household name and one of Nigeria’s long-standing and most respected financial institutions. The Bank is a trusted and recognisable brand with an extensive network of over 300 branches across Nigeria. The Bank offers various banking services to individual and corporate clients, including current, savings, and deposit account services, funds transfer, foreign currency domiciliation, loans, overdrafts, equipment leasing, and trade finance. The Bank also offers customers convenient