ZENITH BANK ENHANCES STAFF PAY BY OVER 20% AND PROMOTES ABOVE 4,000

One of Africa’s leading financial institutions, Zenith Bank has reaffirmed its dedication to employee welfare by announcing the promotion of over 4,000 staff members and implementing salary increases ranging from 20% to 30% across various employee grades. 

This bold initiative, under the leadership of Managing Director/CEO Dame Adaora Umeoji, its aimed at boosting staff morale and productivity.

With over 8,000 employees, this significant investment in human capital reflects Zenith Bank’s belief that its workforce is its most valuable asset. The salary adjustments, effective January 1, 2025, aim to reward performance, alleviate financial pressures, and ensure enhanced customer service delivery. Promotions for top management are also expected as part of the bank’s ongoing commitment to excellence and growth.

Dr. Umeoji emphasized the importance of maintaining a motivated workforce, stating that the bank’s dedication to its employees will translate into superior service experiences for customers. She highlighted the organization’s commitment to setting industry benchmarks through innovative solutions and exceptional service delivery.

Zenith Bank’s continued leadership in the Nigerian financial sector is underscored by numerous awards, including Best Bank in Nigeria 2024 by Global Finance and recognition as the Biggest Bank in Nigeria by Tier-1 Capital in 2024 by The Banker. These accolades complement its reputation for innovation, sustainability, and corporate governance.

By prioritizing employee welfare during challenging times, Zenith Bank not only strengthens its internal operations but also sets a standard for other financial institutions in the region, reinforcing its position as a leader in Africa’s banking landscape.

As a major player in Nigeria’s financial landscape, under its managing director/chief executive officer, Adaora Umeoji, the bank has embraced a holistic approach to growth that integrates environmental, social and governance (ESG) principles with its core business objectives.

At the heart of Zenith Bank’s strategy is a focus on buoying economic inclusion, supporting small and medium-sized enterprises (SMEs) and driving technological innovation to enhance customer experiences. The bank’s proactive investments in renewable energy, sports, digital transformation and impactful community initiatives exemplify its dedication to creating long-term value for its stakeholders while addressing global sustainability challenges.

Zenith Bank’s continued success is driven by a combination of strong financial performance and an unwavering commitment to its stakeholders.

Zenith Bank’s growth trajectory is underpinned by a robust expansion strategy. With operations in several countries, including the UK, UAE, China, and most recently, France, the bank continues to expand its geographical footprint.

As usual, the bank’s efforts in 2024 did not unnoticed as the lender clinched several local and international awards in recognition of its outstanding performance.

In 2024, the bank won the Best Bank in Nigeria at the annual Global Finance award in Washington, DC, NY.

The bank also emerged the Biggest Bank in Nigeria by Tier-1 Capital, 2024 by The Banker; Best Commercial Bank, Nigeria 2024 – World Finance; Best Corporate Governance, Nigeria 2024 – World Finance; Most Sustainable Bank, Nigeria 2024 – International Banker; Bank of the Year, 2024 – Business Day; Retail Bank of the Year, 2024 – Business Day; Bank of the Year 2024- The Banker.

It also clinched the Most Responsible Organization in Africa 2024 – SERAS; Best in Gender Equality & Women Empowerment 2024 – SERAS and Best in Transparency & Reporting 2024 – SERAS

GTCO PLC Announces Successful Completion of the 1st Phase of Its Equity Capital Raise Programme; Raises ₦209 Billion

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

Guaranty Trust Holding Company Plc (“GTCO Plc” or the “Group”) (NGX: GTCO) is pleased to announce the successful completion of the first tranche of its equity capital raise programme, following the completion of the capital verification exercise conducted by the Central Bank of Nigeria (CBN) and the approval of the Basis of Allotment of the Offer by the Securities and Exchange Commission (SEC).

The Offer, which garnered substantial interest from domestic retail investors, raised a total of ₦209.41 billion from 130,617 valid applications for 4,705,800,290 Ordinary Shares, fully allotted. This milestone concludes the first phase of GTCO’s phased equity capital raise programme, which is structured on a balanced allocation strategy based on an equal split between institutional and retail investors. This balanced approach aligns with GTCO Plc’s commitment to fostering a well-diversified and robust investor base.

Commenting on this phase of the recapitalization exercise, Segun Agbaje, Group Chief Executive Officer of GTCO Plc, expressed his gratitude: “We extend our sincere appreciation to our new and existing shareholders, as well as the regulatory authorities, for their unwavering support during this initial phase of our equity capital raise. The strong participation and successful capital verification exercise and allotment process reaffirm the confidence investors have in our fundamentals and execution capabilities. This sets a solid foundation for accelerating our strategic roadmap, which aims to pivot the Group for transformational growth and unlock greater value across the Group’s Banking and Non-Banking businesses.”

GTCO Plc continues to lead its peers in key profitability metrics and financial performance. Building on this successful first phase, the Group will commence the second phase of its recapitalization plan in 2025, which is strategically positioned to attract significant foreign institutional investments, reinforcing its reputation as a “Truly International” financial services brand.

Proceeds from the combined equity raise will be strategically deployed to recapitalize the Group’s flagship subsidiary, Guaranty Trust Bank Limited (GTBank Nigeria), enhancing its ability to meet regulatory requirements and further solidify its position as a leading financial institution. Additionally, the funds will support Group-wide growth initiatives, including footprint expansion, product enhancement, and innovation across both Banking and Non-Banking subsidiaries. GTCO remains committed to delivering sustainable value to its stakeholders and driving innovation across the financial services landscape in Africa.

About GTCO Plc
The GTCO Plc Group is one of the largest financial services institutions in Africa. Headquartered in Lagos, Nigeria, Guaranty Trust Holding Company Plc maintains direct and indirect investments in a network of operating entities located in 10 countries across Africa and the United Kingdom. Within these regions, the operating entities provide a comprehensive range of commercial banking and related financial services to millions of retail, institutional, private banking and wealth management customers, in addition to asset management, pension fund administration, and payment technology businesses.

… Distributes school essentials to 1,000 students across 10 public schools in 5 states

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

Polaris Bank, in partnership with key stakeholders, has reaffirmed its commitment to combating the alarming rate of out-of-school children in Nigeria.

Through its targeted interventions, the Bank has ensured continuous education for over 15,000 students, providing them with the opportunity to learn, thrive, and contribute to a better future.

While the initiative primarily focuses on empowering the girl child, male students in the targeted schools were not left out reflecting the project’s inclusive approach.

Polaris Bank’s collaboration with strategic partners has further strengthened its efforts to combat the scourge of out-of-school children in Nigeria. Since 2020, these collaborative efforts have ensured continuous education for 16,000 students, showcasing the transformative impact of teamwork in fostering positive societal change.

The initiative which includes empowering young learners with brain training techniques and emotional intelligence education alongside making and distributing school essentials (bags, uniforms, sandals, books, and pens) aligns with the United Nations (UN) Sustainable Development Goals (SDG) 4 which ensures inclusive and equitable quality education for all, is targeted at Nigeria’s most vulnerable communities, where over 20 million children lack access to basic education, according to UNESCO.

This phase of the initiative targeted schools across diverse regions of the country, providing needed school essentials such as; school bags, sandals, uniforms, books, and pens to students. Research has shown that the lack of one or two of these basic school essentials has been a significant barrier to school enrolment, contributing to the alarming number of the scourge of out-of-school children in Nigeria.

Polaris Bank’s Managing Director/CEO, Kayode Lawal speaking on the education initiative charged students to embrace opportunities that education offers saying that the intervention is in line with the Bank’s ongoing sustainability efforts aimed at reducing Nigeria’s current out-of-school children population and increasing access to quality education, especially for the girl-child.

As part of its broader mission, Polaris Bank between November and December 2024 visited eight schools across various states, including Opebi Junior Grammar School in Lagos, National High School Arondizuogu; Iheme Memorial Secondary School; Akokwa High School in Imo State, Government Girls Secondary School, Kundila in Kano, Fortune Secondary School in Kogi, and Government Day Junior Secondary School, Maitama in Abuja, with that of Gbaja Junior and Secondary School, both in Surulere, Lagos moved to mid January 2025.

The program aims to support 50,000 students by 2028, building on its current impact of 16,000 students across nine states.

Beyond the provision of school essentials to indigent students of public schools, the initiative also embeds the Brighter Minds Programme, a transformative project bringing innovative brain-training techniques and emotional intelligence education to young learners.

This program has achieved remarkable milestones, expanding access to a holistic learning approach that builds resilience, focus, and confidence in students.

Each pilot group represents a new step in the journey of empowering young minds with life skills, made possible by the unwavering support of Polaris Bank, partners like EvolveCSR, schools, and parents.

Complementing this educational intervention, is the Inspire Teachers Training Program, a 3-day value-based education initiative aimed at equipping teachers with critical soft skills and alternative teaching methodologies.

This program explores topics such as heartful teaching, facilitation techniques, heterogeneous learning strategies, effective communication, heart-centered education, self-connection, and moral skill development.

Teachers who complete the program receive certificates and are encouraged to share their knowledge by training peers, fostering a ripple effect that promotes a soft-skills-driven approach to education.

While the initiative has made significant strides, the final batch of schools to be visited—Gbaja Girls Junior and High Secondary School, Surulere, Lagos — has been postponed to January 2025. This adjustment highlights the Bank’s commitment to ensuring no child is left behind in its drive to provide access to quality education.

Polaris Bank remains resolute in its mission to bridge educational gaps, ensuring a brighter future for Nigeria’s youth through impactful and sustained interventions.

By empowering students and supporting educators, the Bank continues to lead efforts to transform the lives of Nigeria’s future leaders.