The decision stems from a strategic move towards enhancing operational effectiveness. Innocent C. Ike, CEO of Access Holdings Plc, emphasized that “efficiency is now a core driver of value.” He stated, “Our goal is not to reduce scale, but to sharpen it.” This approach aligns with the company’s commitment to corporate governance and long-term growth.

In contrast, other companies in the Nigerian Exchange are proceeding with dividend distributions. For instance:

• MTN Nigeria Plc and Okomu Oil Palm Plc propose a final dividend of N15 per share each.
• Seplat Energy Plc is paying about N12.60 per share for Q1 2026.
• BUA Cement has proposed a N10 per share dividend.
• Zenith Bank is distributing a final dividend of N8.75 per share.

The Initiates Plc also approved a total dividend payment of N266.99 million, representing 30 kobo per share for shareholders registered as of April 7th, 2026. This payment is subject to applicable taxes and reflects shareholder approval during the company’s recent Annual General Meeting.

While Access Holdings focuses on internal improvements, it remains uncertain how this decision will impact shareholder sentiment in the long run. The market will be watching closely as other firms continue their profit distributions amid Access’s strategic pause.

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Bello previously served as a non-executive director at Zenith Bank. He graduated with a B.Engr. in Civil Engineering from Ahmadu Bello University in 1978. Bello also held prominent positions, including Minister of Commerce from 1999 to 2002 and Executive Secretary/CEO of the Nigerian Investments Promotion Commission from 2003 to 2014.

Ovia’s retirement complies with corporate governance guidelines that mandate a maximum tenure of 12 years for board members. Zenith Bank expressed gratitude for Ovia’s contributions, stating, “The Board expresses its deep appreciation to Mr Ovia CFR for his outstanding service and invaluable contributions.”

Zenith Bank highlighted Bello’s extensive experience in governance and policy as key to navigating evolving regulatory landscapes. The bank stated, “Bello’s track record in governance, policy, and strategic oversight positions him to lead the institution through evolving regulatory and market conditions.”

Bello currently chairs Invest-in-Northern Nigeria Limited, further emphasizing his commitment to investment promotion in Nigeria. His leadership is expected to steer Zenith Bank towards continued success in the competitive financial sector.

The next steps for Zenith Bank under Bello’s leadership remain an area of interest for industry observers. They anticipate strategic initiatives that will enhance the bank’s position among financial holding companies in Nigeria.

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Ovia completed a mandatory 12-year tenure as a non-executive director and chairman. He previously served as the Group Managing Director and CEO from 1990 to 2010. Under his guidance, the bank focused on strong corporate governance and stakeholder value creation.

The board expressed its deep appreciation for Ovia’s outstanding service. “His visionary leadership, unwavering commitment to good governance, and dedication to stakeholder value creation significantly strengthened the group’s strategic positioning,” they stated.

Mustafa Bello was appointed as the new chairman of Zenith Bank. Bello graduated with a B.Engr. in Civil Engineering from Ahmadu Bello University in 1978. He also served as the Federal Minister of Commerce from 1999 to 2002.

Bello’s experience includes being the Executive Secretary/CEO of the Nigerian Investments Promotion Commission from 2003 to 2014. Observers expect him to uphold the standards set by Ovia while navigating challenges in the financial landscape.

Ovia was a central figure in the growth of Zenith Bank since its founding in 1990. His departure raises questions about future leadership and strategic direction.

The next steps for Zenith Bank will be closely watched as stakeholders assess how Bello will steer the institution moving forward.

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Okoli joined Access Bank in March 2019 as an Executive Director after the merger with Diamond Bank. She was appointed Deputy Managing Director, Retail South, in March 2022. During her time, she played a critical role in expanding Access Bank’s retail presence and enhancing its services to small and medium-sized businesses.

Key facts about Chizoma Okoli:

• She has approximately three decades of banking experience.
• Okoli began her career in 1992 as an Executive Trainee at Diamond Bank.
• She holds a law degree from the University of Benin and an MBA from Warwick Business School.

The Board of Access Holdings expressed gratitude for her contributions. They noted her impact on the bank’s retail strategy and overall market positioning. Okoli is also an Honorary Member of the Chartered Institute of Bankers of Nigeria and has served on several boards, including United Payment Services Limited and Fiducia Data Services Limited.

The company has not yet named a successor for her position. Observers expect that this executive transition will influence Access Bank’s future direction, especially in retail banking and SME banking strategies.

The post Access bank deputy managing director chizoma okoli announces her retirement appeared first on Toprecruitment.

The recent acquisition of a significant stake in Seplat Energy by Tony Elumelu raises important questions about the future direction of the company and its leadership. Elumelu, a prominent Nigerian entrepreneur and the founder of Heirs Holdings, has been appointed as a non-executive director of Seplat Energy following his company’s acquisition of a 20.07% stake for $496 million.

This acquisition not only marks a pivotal moment for Elumelu but also positions him as the largest stakeholder in Seplat Energy, surpassing institutional investors. The implications of this move are substantial, given that Seplat Energy is a key player in Nigeria’s oil and gas sector, with 2P reserves of 1.043 billion barrels of oil equivalent as of December 2024 and a working interest production of 135,600 barrels of oil equivalent per day.

Elumelu’s influence in Seplat Energy is further underscored by the recent resignation of Olivier Cleret de Langavant from the board, which followed the sale of shares to Heirs Holdings. This change in leadership dynamics could signal a shift in strategy for the company as it navigates the complexities of the energy market.

Heirs Holdings, under Elumelu’s leadership, has been actively investing in various sectors, including energy, financial services, and real estate, aiming to drive economic growth across Africa. The acquisition of a stake in Seplat Energy aligns with Elumelu’s vision of fostering entrepreneurship and creating jobs in the region.

As the largest stakeholder, Elumelu’s decisions will likely have a profound impact on Seplat Energy’s operational strategies and governance. The company’s current production levels and substantial reserves position it well within the industry, but the direction it takes under Elumelu’s influence remains to be seen.

Details remain unconfirmed regarding the specific strategies Elumelu plans to implement at Seplat Energy. However, his track record suggests a focus on sustainable growth and innovation, which could enhance the company’s competitive edge in the market.

In conclusion, Tony Elumelu’s strategic move to acquire a significant stake in Seplat Energy not only elevates his status within the company but also raises questions about the future trajectory of the organization in the evolving energy landscape.

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