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

The narrative of Access Bank on the property dispute between the bank and Gbolahan Obanikoro and four others has been described as misleading, just as Justice Ibironke Harrison of the Lagos State High Court sitting in Tafawa Balewa Square has ordered the arrest of Access Bank Managing Director, Ms. Bolaji Agbede, and three others for allegedly failing to appear for their arraignment.

P.M.EXPRESS learnt that Justice Harrison’s order also affected Balmoral International Limited, DDSS International Company Limited and Adejare Adegbenro.

The Judge issued the arrest warrant after the Lagos State prosecution counsel, Uthman Rilwan, informed the court that he had served the defendants with notice, but they failed to attend the arraignment.

The Lagos State Government had filed a four-count charge of conspiracy, stealing, and attempted theft against the defendants.

When the case was called, Rilwan informed the court that the day’s purpose was to arraign the defendants; however, they were absent despite receiving notice of the court date.

The prosecutor stated that on or about September 2, 2013, at Plot 1261, Adeola Hopewell Street, Victoria Island, Lagos, the defendants conspired to commit theft.

He alleged that Adejare, Balmoral, Access Bank, and Agbede stole the property of MOB Integrated Services at Plot 40b, Bourdillon Road, Ikoyi, Lagos, by using it as security for a loan without the complainant’s consent and subsequently entered into a consent judgment.

Additionally, they were accused of attempting to steal MOB Integrated Services’ property on May 26, 2019, by offering and granting DDSS International Company Limited a credit facility of N1 billion.

According to the prosecutor, these offences contravened Sections 411, 280, and 21 of the Criminal Laws of Lagos State 2011.

Rilwan stated, “My Lord, this matter is for arraignment today, and the defendants have been duly served with a copy of the charge. We request the court to issue a bench warrant for the defendant’s arrest to ensure they attend proceedings on the next court date.”

Consequently, Justice Harrison issued a bench warrant against the second to fifth defendants, Balmoral International Limited, Access Bank, Bolaji Agbede, and DDSS International Company Limited.

The judge directed that the bench warrant be executed against the principal officers and adjourned the case until February 24, 2025, for the defendants’ arraignment.

The political drama surrounding the impeachment of the former Speaker of the Lagos State House of Assembly, Rt. Hon. Mudashiru Obasa, has taken a new turn as Senator Anthony Adefuye, a key member of the Governance Advisory Council (GAC), has voiced his support for Obasa’s claim that his removal was unconstitutional. However, the pro-democracy group Lovers of Lagos has challenged Adefuye to back his assertions with a clear reference to the Constitution, insisting that the law, not emotions, should guide such matters.

In an interview with The Punch, Senator Adefuye expressed agreement with Obasa’s position that the impeachment process was flawed. “What he’s saying is that he was illegally removed and the procedure was faulty, and I agree with him,” Adefuye stated. This has sparked widespread debate about the legality of Obasa’s ouster, which occurred on January 13, 2025, with the support of 32 lawmakers—an overwhelming majority in the House.

Lovers of Lagos: Sentiment Is Not Law

Responding to Adefuye’s remarks, Lovers of Lagos issued a statement challenging the senator to provide specific constitutional provisions that were violated during Obasa’s removal. The group emphasized that governance and legislative actions must be guided by law, not personal sentiments or political loyalties.

“As an elder of the party and a former legislator, Senator Adefuye should know better than to make vague claims without backing them with constitutional evidence,” the group said. “If the former Speaker’s removal was truly illegal, let Senator Adefuye or anyone else point us to the exact part of the Constitution that supports this claim. It is not enough to make emotional arguments; these issues are constitutional, not sentimental.”

Obasa’s Claims Under Scrutiny

During his public address at the Speaker’s Lodge in Ikeja on Saturday, Obasa reiterated his stance that his removal did not follow due process. He denied allegations of financial misconduct and questioned the validity of the impeachment process.

“I have not done anything wrong. I have been a lawmaker for over two decades and am the longest-serving lawmaker in the House,” Obasa stated. He further mocked the allegations, asking, “Is it possible to construct an ordinary gate with N16 billion? It’s not the Wall of Jericho or the wall between the United States and Mexico.”

However, Lovers of Lagos dismissed these claims as a distraction from the real issue at hand. “The impeachment of Rt. Hon. Obasa was supported by 32 lawmakers—an undeniable majority. This shows that the process had widespread support within the Assembly. If Obasa believes his removal was unconstitutional, he should take legal action and let the courts decide, instead of engaging in public theatrics,” the group added.

A Call for Clarity

The group also criticized Senator Adefuye for adding fuel to the political crisis without offering constructive solutions. “As a respected elder and a member of the GAC, Senator Adefuye should be advising on how to move the state forward, not sowing discord by making baseless claims. The Constitution is clear on the procedures for impeachment, and these were followed in the case of Obasa,” Lovers of Lagos noted.

The Way Forward

While Obasa has hinted at potential legal action, observers have urged him to focus on presenting his case in court rather than fueling tensions in the political arena. His comparison of his removal to that of former Speaker Jokotola Pelumi, who he claims was impeached following due process, has also been questioned by legal experts, who argue that each case is unique and must be evaluated on its own merits.

“Lagosians deserve governance rooted in accountability and the rule of law. If there are grievances, they must be addressed within the framework of the Constitution. The era of impunity is over, and everyone, regardless of position, must adhere to the law,” Lovers of Lagos concluded.

As the controversy rages on, the spotlight remains on Senator Adefuye and others supporting Obasa to prove their claims with facts, not rhetoric. Until then, the Lagos State House of Assembly, under the leadership of Rt. Hon. Mojisola Meranda, continues its work, moving past the era of Obasa’s leadership.