Ovia Sounds NGX Gong, As Zenith Bank GMD Applauds 86% Share Price Growth After Recapitalisation

SEC DG Lauds 69% Growth In Market Capitalisation In 18 Months

Caption: Group Managing Director/Chief Executive Officer, Nigerian Exchange Group, Temi Popoola; Group Managing Director/CEO, Zenith Bank Plc, Dame Adaora Umeoji; Chairman and Founder of the bank, Jim Ovia; Group Chairman, NGX Group, Alhaji Umaru Kwairanga; Director-General, Securities and Exchange Commission (SEC Nigeria), Dr. Emomotimi Agama; Chief Executive Officer, NGX Limited, Jude Chiemeka; and his counterpart at Central Securities Clearing System Plc, Haruna Jalo-Waziri at the Closing Gong Ceremony of the Nigerian Exchange Limited on Tuesday, October 14, 2025.

Zenith Bank Plc’s Founder and Chairman, Dr. Jim Ovia, accompanied by the bank’s Group Managing Director/Chief Executive Officer, Dame Adaora Umeoji, on Tuesday, October 14, 2025, officially closed trading activities on the Nigerian Exchange Limited, when the struck the ceremonial gong, marking a significant milestone in the bank’s continued partnership with the capital market.

The event was also graced, among others by the Director General of the country’s Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, who emphasised the role of the NGX in value creation in the Nigerian economic space.

While appreciating stockbrokers for making the market what it has become, Agama noted the N38 trillion or 69.09% growth in market capitalisation over the past one and a half years since he assumed office at the commission. Without the operators, he admitted, the market “wouldn’t have seen the leap that it has achieved in the last one-and-half year.

“I spoke earlier that at my assumption of office, market capitalization stood at N55 trillion, today it is hovering around 89 trillion and 93 trillion. That was not done by a spirit, it was done by you. Your ability, tenacity, courage, vision and transparency have moved the market where it is,” he said.

Buoyed by the growth seen so far in 18 months, Agama set yet another ambitious target when he told the gathering:”Our vision is that by next year, we will have the market at N200 trillion,”

Also speaking at the event, Dr. Umeoji said she was delighted to participate in the closing gong ceremony, acknowledging the NGX’s visionary leadership and innovative initiatives.

She applauded the pivotal role played by the NGX’s leadership who she said “has been very creative and innovative, (just as) their electronic trading platform – X-stream played a pivotal role in the success of our recapitalization exercise, which achieved a 160% subscription. The bank’s stock price has grown since the recapitalization exercise, from N36.50 per share to N68. Zenith Bank has also reported impressive financial results for the Half Year (H1) of 2025, becoming the most profitable bank in Nigeria and paying the highest dividend in the industry for the half year.

For her, Zenith Bank remains “committed to creating value for our stakeholders and will continue to partner with the NGX to boost the Nigerian economy. Our expansion strategy is focused on following our customers’ businesses and ensuring that we go to countries and economies where we can scale and provide more returns for our shareholders.”

She stressed that the bank plans to make good on its promise of being investors’ delight by paying quantum dividends to its shareholders by year end.

According to her “for us in Zenith, we are looking forward to paying more based on the confidence the market reposed on us. We are working assiduously to ensure that we do not disappoint the Market.  We are going to continue to be the investors’ delight, and we assure the market that we would continue to pay enhanced dividends come end of the year.”

Doyen of the NGX, Alhaji Rasheed Yusuf in his remarks, lauded Ovia for his vision and leadership, referring to him as the “Doyen of the Commercial banking sector.”