BREAKING: Adaora Umeoji Emerges As First Female GMD/CEO For Zenith Bank—-Zenith Bank Plc on Tuesday announced the appointment of Dr Adaora Umeoji as its Group Managing Director/Chief Executive Officer (CEO) effective June 1.
This was disclosed in a notification sent to the Nigerian Exchange Ltd. (NGX) by the bank’s Company Secretary, Mr Michael Otu.
Otu said that the appointment is subject to approval by the Central Bank of Nigeria (CBN).
He stated that Umeoji takes over from Dr Ebenezer Onyeagwu, whose five-year term expires on May 31, after a very successful tenure.
The company secretary noted that Umeoji is the first female GMD/CEO since the inception of the bank.
According to him, Umeoji’s appointment is consistent with the bank’s executive transition tradition, succession plan, and strategy of grooming leaders from within.
Otu said prior to the appointment, Umeoji has been the Deputy Managing Director of the bank since Oct. 28, 2016; and has close to 30 years cognate banking experience of which 26 years has been with Zenith Bank.
Umeoji is an alumnus of the prestigious Harvard Business School where she attended the Advanced Management Program (AMP) and an alumnus of Columbia Business School with a Certificate in the Global Banking Programme.
She holds a Bachelor’s Degree in Sociology from the University of Jos, a Bachelor’s Degree in Accounting and a First-Class honors in Law from Baze University, Abuja.
She also holds a Master of Laws from the University of Salford, United Kingdom, a Master in Business Administration (MBA) from the University of Calabar and a doctorate in business administration from Apollos University, USA.
Umeoji holds a Certificate in Economics for Business from the prestigious MIT Sloan School of Management, USA, and has attended various management programmes in renowned Universities around the world.
This includes, the strategic thinking and Management programme at Wharton Business School, USA.
She also attended the executive programme in Strategic Management and has a Certificate in Leading Global Business from Harvard Business School, USA.
Umeoji is a fellow of notable professional bodies including the Chartered Banker Institute, UK, Chartered Institute of Bankers of Nigeria, Nigerian Institute of Management, Institute of Credit Administration, Institute of Certified Public Accountants of Nigeria.
She is also a fellow of Institute of Chartered Mediators and Conciliators, and the Institute of Chartered Secretaries and Administrators of Nigeria, among others.
In 2022, the Federal Government of Nigeria honored Umeoji with Officer of the Order of the Niger (OON), as a recognition of her contributions to nation building.
She is a Peace Advocate of the United Nations (UN-POLAC) and has impacted many lives through her philanthropic and humanitarian activities through her NGOs; Pink Breathe Cancer Foundation and the Adorable Foundation.
As a result of her passion for promoting professionalism in the banking industry and improving the well-being of the less privileged, Umeoji founded the Catholic Bankers Association of Nigeria (CBAN).
The platform is used to promote ethical banking and service to humanity.
She is a Lady of the Order of Knights of St. John International (KSJI), and was awarded a Papal Knight of the Order of St. Sylvester by His Holiness Pope Francis.
Bitcoin (BTC-USD) surged above $100,000 on Thursday for the first time since February.
The world’s largest cryptocurrency rose alongside the overall market after President Trump unveiled a trade deal with the UK, signaling a deescalation of tariffs.
Coinbase’s (COIN) announcement earlier in the day about the crypto exchange’s deal to acquire options platform Deribit for $2.9 billion also helped boost sentiment in the sector.
Bitcoin rose as much as 4% to trade north of $100,900 near 11:30 a.m. ET on Thursday as Trump spoke in the Oval Office about the UK agreement and indicated other countries also want to strike trade deals with the US.
Bitcoin fell as low as $75,000 in the days following Trump’s “reciprocal” tariff announcement on April 2, otherwise known as “Liberation Day.”
Bitcoin sentiment has grown increasingly bullish during the stock market’s recovery. Signs that companies are taking a cue from firms like Strategy (MSTR) and adding crypto to their balance sheets have also bolstered sentiment toward the sector.
In a note earlier this week, Bernstein analyst Gautam Chhugani said approximately 80 companies have “adopted the ‘Bitcoin Standard,’ adding Bitcoin treasury exposure to their balance sheets, owning ~3.4% of the total BTC supply.”
“The implications for Bitcoin — more resilient corporate/institutional capital supporting through the cycle downturns and accelerated supply squeeze as public corporates continue buying Bitcoin,” Chhugani added.
Year to date, bitcoin is up more than 8%.
Coinbase Global (COIN) has reached an agreement to acquire crypto options platform Deribit for $2.9 billion, one of the most significant deals ever for the cryptocurrency industry.
The deal marks another milestone for Coinbase, the largest cryptocurrency exchange in the US, after missing out for years on the wider transaction volumes and margins that other exchanges captured from derivatives trading.
Coinbase’s stock rose over 4% on the announcement. The Wall Street Journal first reported the deal.
“This isn’t just more products — it’s deeper liquidity, tighter spreads, and better tools for institutional and retail traders alike,” Greg Tusar, Coinbase’s head of institutional product, said in an emailed statement.
Deribit “isn’t just another addition,” he added in a blog post.
The acquisition follows Coinbase’s purchase of asset manager One River Digital in 2023, derivatives exchange FairX in 2022, crypto brokerage platform Tagomi in 2020, and custody business Xapo in 2019.
Coinbase is paying for Deribit with a mix of its own common stock and $700 million in cash.
The deal is the latest example of how the crypto industry has emerged as one of the few bright spots for merger and acquisition activity this year, even as other industries hold back amid the economic uncertainties triggered by President Trump’s trade wars and tariffs.
The biggest driver of that crypto optimism is Trump’s continued embrace of digital assets. He is pushing for more favorable regulation of the industry, and Coinbase is expected to be one of the biggest beneficiaries.
Some other big crypto deals so far this year include Coinbase’s US rival Kraken announcing an agreement to purchase crypto futures trading platform Ninja Trader for $1.5 billion in March and Ripple Labs agreeing last month to buy crypto broker and financing firm Hidden Road for $1.25 billion.
Coinbase reports first quarter earnings Thursday afternoon. Its profits are expected to decline, while net revenue is expected to jump compared to a year ago. It recognized a $737 accounting gain on its crypto asset holdings in the first three months of last year.
TCN reports that Bank customers in Nigeria will begin paying N6 for each SMS transaction alert starting Thursday, May 1, 2025, following an upward adjustment in telecommunications service rates recently approved by the federal government.
The new fee represents a 50 percent increase from the previous N4 charge per message and has been communicated by several commercial banks to their customers ahead of the implementation.
Guaranty Trust Bank Limited was among those that issued notices. In an email to customers titled “Increase in SMS Transaction Alert Fee,” the bank explained that the revision was necessitated by higher charges from telecommunications providers. “Dear Valued Customer, Please be informed that effective Thursday, May 1, 2025, the SMS transaction alert fee will increase from N4 to N6 per message. This adjustment is due to a recent increase in telecom rates as communicated by the telecommunication service providers,” the notice read.
The bank emphasized the importance of SMS alerts, stating they are essential tools for customers to monitor and maintain control over their account activities. It also noted that SMS alerts sent to international phone numbers would incur additional charges.
The increase in telecom rates and corresponding adjustment in SMS alert fees come amid broader concerns over rising costs of living and digital access in the country.
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