In Zenith Bank Plc’s history, June 1, 2024 will always be remembered. On this day, Dr. Adaora Umeoji, a young woman and Amazon who is well regarded by young people and whom they look up to for guidance and mentorship, will become the bank’s first female group managing director.
Exuberance erupted when her appointment—in an acting capacity—was revealed in March. Given that she was the first woman to lead the financial juggernaut since its founding in May 1990, the announcement was widely reported in the finance sector. Her successful five-year term ended on May 31, 2024, and she takes over for Dr. Ebenezer Onyeagwu.
Umeoji, who is honored to have received the esteemed Officer of the Order of the Niger award, is anticipated to successfully navigate the challenging banking industry landscape in order to boost the company’s profits and advance it.
As per the audited financial reports submitted to the Nigerian Exchange (NGX) for the 2023 financial year, the company had a triple-digit increase in gross earnings. This led to a 180% YoY increase in Profit Before Tax (PBT), which increased from NGN284.7 billion in 2022 to NGN796 billion in 2023.
Due to Umeoji’s firsthand knowledge of the bank’s difficulties and ability to steer the ship, both depositors and shareholders anticipate brighter times to come.
Her academic credentials are quite impressive, and she has maintained a spotless 30-year banking record.
She worked for Zenith Bank for 26 of those years, moving up the ranks to become the Deputy Managing Director on October 28, 2016, a role she dutifully fulfilled until her recent promotion.
Umeoji received her diplomas in the Global Banking Program from Columbia Business School and the Advanced Management Programme (AMP) from Harvard Business School. She also graduated with first-class honors in law from Baze University, Abuja, and a bachelor’s degree in accounting and sociology from the University of Jos. She also possesses a PhD in business administration from Apollos University in the United States, an MBA from the University of Calabar, and a Master of Laws from the University of Salford in the United Kingdom.
Dr. Adaora Umeoji, a renowned Nigerian banker, has received a Certificate in Economics for Business from the MIT Sloan School of Management and has participated in various management programs at prestigious universities worldwide.
She is a member of professional organizations such as 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, Institute of Chartered Mediators and Conciliators, and the Institute of Chartered Secretaries and Administrators of Nigeria.
Umeoji has made a significant impact on numerous lives through her philanthropic and humanitarian endeavors with her NGOs, the Pink Breathe Cancer Foundation, and the Adorable Foundation. These organizations focus on educating and supporting cancer patients and underprivileged children, particularly girls. Her dedication to humanity was acknowledged by the Sun Newspaper, which recently honored her with the Humanitarian Service Icon Award for 2023.
With a remarkable history of excellence and a commitment to innovation, she is set to steer Zenith Bank towards a new era of growth and success. She has provided scholarships to numerous deserving children and used the late Hon. Andy and Chief Lady Ngozi Umeoji Foundation to undertake various charitable and humanitarian activities.
Lady Adaora Umeoji received a commendation from Pope Francis in 2020 and was recently celebrated as The Sun Humanitarian Service Icon 2023.