Who really paid for Takeover of Union Bank, at what Cost to Depositors?

Zenith Bank aims Francophone Growth with new Cote D’Ivoire Subsidiary

Zenith Bank Plc has announced the opening of its Côte d’Ivoire subsidiary, marking a pivotal achievement in the Group’s Pan-African expansion strategy.

The official opening ceremony, scheduled to hold on Wednesday, April 29, 2026, is expected to attract senior government officials and regulators from Nigeria and Côte d’Ivoire, continental business leaders, and members of the diplomatic community, highlighting the strategic economic ties and investment opportunities between the two markets.

The new subsidiary, licensed in December 2025 by the Ministry of Finance and Budget, Republic of Côte d’Ivoire, and regulated by the UMOA Banking Commission, will commence operations from its headquarters at SCI Wall Street, Avenue Noguès, Plateau, Abidjan.

The launch represents a strategic move to deepen the Bank’s presence in Francophone West Africa and strengthen financial intermediation within the West African Economic and Monetary Union (WAEMU).

Positioned as a gateway for cross-border trade and investment, Zenith Bank Côte d’Ivoire will focus on corporate banking, trade finance, local and offshore banking services, and structured financial solutions tailored to businesses operating across Africa and internationally.

Commenting on the launch, the Group Managing Director/CEO, Adaora Umeoji, said: “From the very beginning, our Founder and Chairman, Jim Ovia, set out to build a truly global brand with a strong presence across Africa and key international markets. The launch of Zenith Bank Côte d’Ivoire is a bold step in realising that vision; opening a strategic corridor into Francophone West Africa and reinforcing our commitment to facilitating trade, investment, and enterprise growth across the continent. As we continue to expand thoughtfully and strategically, we remain focused on delivering world-class banking solutions that connect African businesses to global opportunities.”

The new subsidiary will be headed by MD/CEO Cédric Tano, a seasoned banking executive with over two decades of experience.

Speaking ahead of the official opening, he said: “We are proud to establish Zenith Bank’s presence in Côte d’Ivoire at a time of strong economic growth in the country and increasing regional integration. Our focus is to showcase the Zenith brand as a customer-centric institution that combines global best practices with deep local insight. We are well positioned to support businesses with innovative financing solutions, facilitate cross-border trade, and contribute meaningfully to the growth of the Ivorian economy and the wider WAEMU region.”

The Côte d’Ivoire launch forms part of Zenith Bank’s broader continental growth strategy.

In addition to the Anglophone countries where it currently operates, and in line with the expansion into the Francophone market, the Bank has commenced its entry process into the CEMAC (Central African Economic and Monetary Community) region, with Cameroon as the focal point.

With a footprint already spanning Nigeria, Ghana, Sierra Leone, The Gambia, the United Kingdom, France, the UAE, and China, Zenith Bank continues to bridge African markets with global opportunities, enabling seamless trade and financial connectivity across the continent and beyond.

Founded in 1990, Zenith Bank has grown into one of Africa’s most respected banking institutions, boasting a robust capital base and a consistent track record of strong financial performance.

For 16 consecutive years, the Bank has held the record of highest Tier-1 capital in the Nigerian banking industry. Built on the foundation of People, Technology, and Service, Zenith Bank continues to deliver innovative financial solutions while maintaining a disciplined approach to growth and risk management. Its performance has earned it numerous local and international recognitions and endorsement.

Credit Zenith Bank PR

You're expected to provide Strategic Oversight, Policy Direction, FG tells new NUPRC Board

The Federal Government has inaugurated the Board of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), charging members to uphold transparency, accountability and regulatory independence in the nation’s petroleum sector.

The Secretary to the Government of the Federation (SGF), George Akume, gave the charge on Tuesday in Abuja during the inauguration of the board.

Akume said the inauguration underscored government’s commitment to strengthening governance in the petroleum sector and ensuring efficient regulation of upstream petroleum resources in the interest of Nigerians.

He described the event as a major milestone in the implementation of the Petroleum Industry Act (PIA), enacted to reform the sector through clearly defined roles, regulatory independence, accountability and global best practices.

According to him, as the apex governance body of the commission, the board is expected to provide strategic oversight, policy direction and institutional stability to boost investor confidence and promote sustainable development in the upstream sector.

The SGF said the development aligned with President Bola Tinubu’s Renewed Hope Agenda, which prioritised strong institutions, rule of law and integrity in public service.

He added that effective regulation of the upstream petroleum sector remained central to Nigeria’s economic growth, energy security and revenue optimisation.

Akume commended members of the board, noting that their appointments reflected careful selection of individuals with proven competence and integrity.

He expressed confidence that their collective experience and professionalism would strengthen the commission and advance the objectives of the PIA.

He urged the board members to uphold high standards of corporate governance, collaborate with management and stakeholders, and ensure accountability in the discharge of their responsibilities.

“As I formally inaugurate the board of the Nigerian Upstream Petroleum Regulatory Commission, I urge you to approach your duties with a strong sense of service and commitment to excellence,” he said.

Responding on behalf of the board, its Chairman,  Magnus Abe, thanked President Tinubu for the opportunity to serve the country.

Abe assured Nigerians that the board would work diligently to achieve the objectives of the commission and justify the confidence reposed in its members.

He also appreciated the SGF for his support throughout the selection and confirmation process.

The chairman said members of the board fully understood the charge given to them and would work closely with management to meet public expectations.

He pledged that the board would work closely with management to ensure the full realisation of the benefits envisaged under the Petroleum Industry Act.

Credit NAN: Texts excluding Headline