Business
Inside Details As Legendary Adaora Umeoji Leaves Zenith Bank
with a very strong chance of becoming the First Female Managing Director
Adaora Umeoji, the highly rated banker that Vice President-Elect, Kashim Shettima described as legendary has left Zenith Bank.
The banker with a very strong chance of becoming the First Female Managing Director of Zenith Bank exited Zenith Bank courtesy of the new rule introduced by the Central Bank of Nigeria.
She leaves the Bank as the Deputy Managing Director (DMD).
The Central Bank directive stipulates that “the tenure of executive directors (ED), deputy managing director (DMD) and managing directors (MDs) shall be in accordance with the terms of their engagement approved by the board of directors of banks, subject to a maximum tenure of ten (10)yrs”.
The CBN’s directive further stated that “where an executive who is a DMD becomes the MD/CEO of a bank or any other DMB before the end of his/her maximum tenure, the cumulative tenure of such executive shall not exceed twelve 12 years”.
The CBN directive affects Umeoji- marital name Nwokoye – who has been on the Board of Zenith bank in 2012 and became DMD in 2016.
She retired from Zenith Bank on February 24, 2023, as stipulated by CBN which insisted the directive is with immediate effect.
Interestingly, the trendy banker who built her reputation on fantastic returns as Zenith Bank’s Executive Director in charge of the Public Sector, Abuja, North, Middle Belt, and South-East Zones gave a silent but strong push to Godwin Emefiele’s first appointment as Central Bank Governor in 2014.
Information at hand revealed a glimpse of Umeoji’s role was visible when Emefiele went for screening at the national assembly – she was on hand to provide support.
She reportedly put into play the massive influence and contacts she amassed, especially in the nation’s seat of power, Abuja while helping to situate Zenith Bank as a major player in her spheres of operation.
SocietyNow.Ng gathered that she will need to “cool off” for another year before she is eligible for an appointment in any bank.
This development is courtesy of the CBN directive that further stated that ” “EDs, DMDs and MDs who exit from the board of a bank either upon or prior to the expiration of his/her maximum tenure, shall serve out a cooling-off period of 1 year before being eligible for appointment as a NED to the board of directors.”
Fashionable and with over 20 years top-level banking experience to her name, Umeoji is a master’s degree holder in Business Administration from the University of Calabar and a member of many professional bodies including the Nigerian Institute of Management (NIM), Institute of Certified Public Accountants of Nigeria (ICPAN), and Chartered Institute of Bankers of Nigeria (CIBN),
Named a Knight of St Sylvester by his Holiness, Pope Francis for her “outstanding services to God and Humanity”, Umeoji is from Aguata in Anambra state.
