EXCLUSIVE: ₦50.7bn jackpot for Jim Ovia as Zenith rewards shareholders lavishly

By Kazeem Ugbodaga

Chairman of Zenith Bank Plc, Jim Ovia, is set to pocket a staggering dividend payout of about ₦50.7 billion for the 2025 financial year following the bank’s declaration of a final dividend of ₦8.75 per share.

Findings from the bank’s audited end-of-year report showed that Ovia’s combined direct and indirect shareholding rose to 5,801,238,332 units in 2025, positioning him as the single largest beneficiary of the bumper payout.

His direct holding stood at 4,145,107,627 shares, while indirect interests accounted for 1,656,130,705 shares.

The latest figures represent a significant increase in absolute holdings from 2024, when he held a total of 5,082,800,739 shares, comprising 3,552,949,395 direct and 1,529,851,344 indirect shares; although his percentage stake declined from 16.19 per cent to 14.13 per cent.

With the ₦8.75 final dividend applied to his 2025 shareholding, Ovia’s earnings from the payout alone climb to ₦50.7 billion. When combined with the ₦1.25 interim dividend earlier declared by the bank, the total dividend windfall rose even higher.

Also recording a sharp increase in shareholding is the Group Managing Director of the bank, Dr. Adaora Umeoji, whose total shares surged to 287,092,076 in 2025 from 91,902,979 in 2024. Her 2025 holdings translate to a dividend payout of about ₦2.5 billion from the final dividend alone.

A breakdown of other directors’ earnings from the ₦8.75 dividend shows significant payouts across the board.

Executive Director Henry Oroh, with 31,432,653 shares, is expected to receive approximately ₦275,035,714. Oroh retired from the board effective 30 September, 2025.

Adobi Nwapa will earn about ₦263,884,294 from her 30,158,205 shares, while Akindele Ogunranti is set to receive roughly ₦245,902,009 based on his 28,103,201 shares.

Lawani Adamu will earn about ₦116,422,705 from his 13,305,452 shares while Louis Odom is expected to receive approximately ₦113,558,620 from 12,978,128 shares.

Among non-executive directors, Chuks Emma Okoh will earn about ₦5,423,040 from his 619,776 shares, just as Juliet Ehimuan is set to receive ₦1,127,928 from her 128,906 shares, while Pamela Mimi Yough will earn approximately ₦1,399,484 from her 159,941 shares.

A number of independent non-executive directors, including Mustafa Bello, Al-Mujtaba Abubakar, Omobola Idibapo-Obe Ogunfowora, Peter Bamkole and Rislana Abdulazeez (now , have no recorded shareholdings and will not receive dividend payouts.

Breakdown of indirect holdings shows that Ovia’s interests are spread across several entities, including Institutional Investors Limited, Lurot Burca Limited, Jovis Nigeria Limited, Veritas Registrars Limited, and Quantum Zenith Securities Limited, while Umeoji’s indirect stake is held through Palais Vendome Limited.

For Ovia and Umeoji, however, the latest payout represents not just a reward for investment, but a massive financial windfall driven by deep equity stakes in one of the country’s most profitable banks.