Why “Legendary” DMD, Adaora Umeoji Is Returning To Zenith Bank After 5 Months

The legendary bank chief, Adaora Umeoji is making a return to Zenith Bank.

This development comes five months after a Central Bank of Nigeria directive that capped tenures of top level bank chiefs compelled her to leave office on February 24, 2023 as the Deputy Managing Director.

She returns to the bank she is an embedded part of the success story on August 2, 2023 based on a review of the directive that made her leave office in the name of “retirement” SocietyNow.Ng.

Information at hand revealed the new review allows her another four years in service.

The combined years of top level bank chiefs – Managing Directors, Deputy Managing Directors and Executive Directors – on a board was initially pegged at 20 years. It has been extended to 24 years SocietyNow.Ng gathered.

The move allows Zenith Bank to re-engage the invaluable services of Umeoji whose status as a great value adder was further cemented by Vice President, kashim Shettima who branded her “legendary” during one of his public speakings.

The bank with the exemplary Ebenezer Onyeagwu as Managing Director announced the return of Umeoji in a notification that reads “Zenith Bank Plc “The Bank” hereby informs its shareholders, NGX and the investing public that the Central Bank of Nigeria (CBN) has given its ‘No Objection’ to the re-engagement of Dame (Dr) Adaora Umeoji as Deputy Managing Director (DMD) of the bank.

This is the sequel to the Central Bank of Nigeria (CBN) circular Ref: FPR/DIR/PUB/CIR/001/078 dated July 13, 2023.

The re-engagement is effective August 2, 2023.”

The tenure capping that compelled Umeoji, consistently touted as the most likely first female Managing Director, out of Zenith Bank was perfected with suspended – and in detention – Godwin Emefiele firmly in charge of Central Bank.

Emefiele is a former Managing Director at Zenith Bank.

Vice President Shettima who dubbed Umeoji “legendary”is an “alumnus” of Zenith Bank.