The bank disclosed that the new security feature adds an additional verification step to the login process beyond the traditional password authentication system.

Under the new arrangement, customers logging into the Zenith internet banking platform will receive a One-Time Password (OTP) on their registered phone number and email address after entering their account number and password.

The OTP, according to the bank, will remain valid for five minutes and must be used to complete the login process.

Zenith Bank said the deployment is aimed at enhancing the safety of customer accounts amid rising concerns over digital fraud, phishing attacks, and unauthorised access to online banking platforms.

The bank also advised customers to remain vigilant against fraudulent links and phishing attempts, stressing that it would never send login links to users for internet banking access.

“Only access the Zenith Bank Internet Banking from our website,” the bank stated in a customer advisory issued on the new security upgrade.

The move reflects a broader trend among financial institutions in Nigeria to strengthen cybersecurity infrastructure and improve digital banking protection as online transactions continue to grow across the country.

Zenith Bank further urged customers requiring assistance to contact its customer support channels, including ZenithDirect and its virtual assistant platform, ZiVA.

Adeleye sated this in his address during the recent WorldStage Nigeria’s Macro-economic Outlook 2026 presentation in Lagos.

In the speech, the WorldStage boss explored how nurturing the synergy between local media and corporate organizations can ensure steady flows of business and investment information.

President Bola Tinubu said recently that his government will cut tariffs on media equipment coming to the country, hoping to provide some relief for the media industry.

“But with media houses now transforming to offer online products and services, the extent to which they will benefit from such tariffs cut may be very minimal,” Adeleye said.

According to him, the only reasonable revenue source in the industry is advertising, whose window has been closing over the years.

He offered another look into the Federal Government’s “Nigeria First” policy through the lens of the media sector and the local advertisers he said make profits in Nigeria but spend the bulk of their ad dollars on foreign media to look good.

“The policy can be explored to compel local businesses to prioritize the local media. This is important because many Nigeria’s blue chips spend millions of dollars to promote their businesses in foreign media with little regards for the local players,” he said.

“The way forward, I think, should be for President Bola Tinubu to issue an Executive Order mandating local firms to commit nothing less than 80 percent of their advertising budget to local media.”

He commended sponsors of the outlook, which include the Nigeria Liquefied Natural Gas (NLNG), Zenith Bank, NLNG, CBN, NNPC Limited, Linkage Assurance, and Fidelity Bank.

“I believe if most Nigerian firms can emulate NLNG in terms of social responsibility and commitment to local media, there will be no need of seeking for an Executive Order for them to do the needful,” he said.

The outlook reflected hopes, projections, optimism for Nigeria’s economy, with caution, according to its reviewer, Lagos Commissioner for Information Gbenga Omotoso.

Adeleye said a sequel to the outlook, Q1 2026 Report, will provide actionable insights for policymakers, businesses, and investors, informing strategies for growth and development.

The rally, its strongest single-day gain in about a month, pushed the bank’s market capitalisation to N4.58 trillion, overtaking GTCO, which stood at N4.32 trillion at the close of trading.

This development returns Zenith Bank to the top spot among Nigeria’s most valuable banking stocks.

Zenith Bank’s proposed London listing is seen as a strategic move to tap stronger pools of international capital.

Although the bank has traded in London via global depository receipts since 2013, a full listing would boost its global profile and investor access.

Financial institutions in Nigeria are currently seeking foreign capital to fund expansion. GTCO, for instance, raised $105 million through its own London listing last year.

Alongside the listing plan, Zenith Bank also announced the opening of a new branch in Manchester, expanding beyond its longstanding London presence.

The Manchester office is expected to create about 30 jobs in the North West region and will focus on corporate banking services, including trade finance and treasury operations for businesses operating between Africa and the UK.

The launch coincided with President Bola Ahmed Tinubu’s visit to the United Kingdom, where discussions have centred on strengthening trade and investment ties between both countries.

Zenith Bank’s share price close at N111 makes it only the second Nigerian bank to trade above N100, following GTCO, which ended the session at N123.

Crossing this threshold is widely viewed by investors as a sign of market re-rating, showing improved confidence in the banking sector’s earnings strength and long-term growth outlook.

Group Managing Director and CEO, Dame Dr. Adaora Umeoji, said the bank’s UK expansion aligns with its international growth strategy.

She described the UK as a key financial hub for connecting African businesses with European markets.

Zenith Bank’s latest rally stresses high competition at the top of Nigeria’s banking sector, with valuations between it and GTCO being closely matched.

The planned London listing points to a longer-term transition toward global capital markets, while the Manchester expansion accentuates the bank’s intention to be a bigger part in facilitating trade flows between Nigeria and the UK, currently estimated at £8.1 billion annually.

The stock moved between an intraday high of N60.10 and a low of N59.95 before settling at N60. It previously closed at N59.70, adding N0.30 at the end of the day.

Trading activity was also strong, with 54.41 million units traded across 1,104 deals, amounting to N1.12 billion in value.

Zenith Bank, listed on the NGX Premium Board, has a market capitalisation of N2.46 trillion and 41.07 billion outstanding shares. The stock opened the year at N45.50 and has gained 31.9% so far, placing it among the notable performers on a year-to-date basis.

The lender is one of the most actively traded stocks in the market, recording 1.82 billion units worth N117 billion over the last three months.

Several brokerage firms, including CardinalStone, Lead Capital, Afrinvest, Bancorp Securities and Meristem, have issued “Buy” recommendations for the stock this week.

Financial analysts are now anticipating Zenith Bank’s Q4 2025 and full-year results, while investors position themselves ahead of the financial releases.

Held on Tuesday, November 11, 2025, at the Federal Palace Hotel, Victoria Island, Lagos, the event, themed “United Frontiers: Growth Powered by Innovation, Collaboration, and Compliance,” brought together regulators, fintech leaders, bankers, and innovators to discuss how Africa can balance innovation with compliance to ensure inclusive growth.

Speakers included Musa Jimoh, director of Payment Systems at the Central Bank of Nigeria (CBN); Chika Nwosu, managing director of PalmPay; Vincent Ogbunude, CEO of Verve International; and Akeem Lawal, managing director, Interswitch Purepay.

Speaking at the event, Cherry Eromosele, executive vice president, Marketing and Corporate Communications at Interswitch, said the TechConnect series has evolved into a platform for enabling inclusion, aligning regulation with innovation, and strengthening collaboration across the ecosystem.

On Interswitch’s newest innovations, Vincent Ogbunude unveiled cutting-edge solutions such as tokenisation, digital card storage, tap-to-pay transactions, and cross-border interoperability designed to unify Africa’s fragmented payment landscape.

“Interswitch has already crossed the 100 million-card milestone in Nigeria. But we know the future is digital. We’re now enabling users to digitise their cards, store them on mobile devices, and make secure tap-to-pay transactions,” he said.

Ogbunude added that over 40 million Verve cards with contactless functionality have already been rolled out across markets including Nigeria, Ghana, Kenya, and Côte d’Ivoire, an achievement that will speed up the continent’s transition to seamless payments.

In his comments, Akeem Lawal noted that compliance is indispensable when it comes to innovation:

“You cannot build sustainable innovation without compliance. It is the foundation of trust, customer experience, and long-term growth. Many see compliance as a checklist; we see it as guardrails that make innovation sustainable,” he said.

The event concluded with awards recognising partners including FirstBank, Zenith Bank, UBA, GTBank, PalmPay, Moniepoint, OneAfriq, Fincra, and others for their contributions to enhancing the payments ecosystem.

The awards presentation session for “Outstanding Performance” was led by the VP, Sales & Account Management, Interswitch Systegra, Robinta Aliyu, and the VP, Business Development, Interswitch Purepay, Etitayo Awe.

 The event is billed to build on the success of the previous editions. The Tech Fair will be held at the Eko Hotels & Suites, Victoria Island, Lagos, Nigeria, on November 20th, 2025, at 9 am prompt.

Speaking at the first Zenith Bank Tech Fair held in 2019, Jim Ovia, the Bank’s founder, said that,

“At this point, the world has gone so digital and the Nigerian economy is being digitized. We have our youth who are creating innovations. The biggest economies in the world in the 2030s will be smart economies.”

According to the Lender, this year’s event plans to be bigger, better, and more enlightening with keynote presentations from Tech leaders, fireside discussions, Tech exhibitions, and masterclasses.

Speaking ahead of the Tech Fair, the Group Managing Director and Chief Executive Officer (GMD/CEO) of Zenith Bank PLC, Dame, Dr. Adaora Umeoji said that the importance of incluiding technology in the strategic planning of today is very vital.

In her words;

“Our founder and chairman Dr. Jim Ovia in his book Africa rise and shine stated the importance of including technology of tomorrow to the strategic planning of today. In today’s world, AI is really accelerating, advancing,g and disrupting changes in businesses around the world. The impact of AI is very transformative.

Zenith Bank closed the trading on Monday, 10th November 2025, at N59.60, declining by 0.67%.

The Bank is listed on the Premium Board of the Nigerian Exchange Group (NGX) with an equity capitalization of ₦2.46 trillion and an outstanding shares of 41.07 billion.

Key Financial Highlights

• Interest income surged 41% year-on-year to 7 trillion, driven by a high-yield rate environment and expansion of the bank’s investment portfolio.
• Despite interest expense rising 22% to N814 billion – reflecting a tighter monetary policy and larger funding base, the bank maintained a healthy Net Interest Margin (NIM) of 12%, up from 10% a year earlier.
• Non-interest income fell by 38% to N535 billion, primarily due to a 60% drop in trading gains.
• Profit Before Tax (PBT) stood at N917 billion, versus N1.00 trillion in September 2024. Profit After Tax (PAT) declined by 8% to N764 billion, and Earnings Per Share (EPS) dropped to N18.60 from N26.34.
• Total assets reached N31 trillion as at September 2025, up 4% from N30 trillion in December 2024. Customer deposits grew by 8% to N23.7 trillion, while gross loans fell 9% to N10 trillion. Non-performing loan (NPL) ratio improved to 3% thanks to write-offs.
• Return on Average Equity (ROAE) and Return on Average Assets (ROAA) were 23.3% and 3.3% respectively. The coverage ratio was 211.1% and liquidity ratio 53%, both strong by industry standards.

The numbers suggest that while Zenith Bank is successfully leveraging interest income and maintaining strong margin performance, it is facing headwinds in non-interest income, especially from trading operations.

The contraction in PAT and EPS indicates cost pressures and tightened profitability despite top-line growth.

Asset quality remains a bright spot, with the NPL ratio improving and the bank showing resilience in the broader challenging Nigerian macro-economic environment.

Outlook & Commentary

Speaking on the results, Dame (Dr.) Adaora Umeoji, group managing director/CEO, Zenith Bank, described the performance as “an attestation to the resilience of the Zenith brand, result-driven strategy, and the adaptability of our people in an evolving operating environment.”

 “We’re well placed to sustain this momentum whilst maintaining responsible leadership in the Nigerian banking industry and delivering exceptional value to all our stakeholders.”

The bank’s strong capital base, liquidity profile, and asset quality bolster its readiness to seize growth opportunities, particularly in digital innovation and client-centric solutions.

Zenith Bank’s latest figures underscore the dual nature of banking in Nigeria: while interest income benefits from high rate environments, the non-interest segments may still lag due to market volatility.

For stakeholders and investors, the key takeaway is that the bank is navigating the terrain with strength, but must continue to diversify income streams and manage cost pressures to sustain long-term growth.

The bank disclosed that it achieved this milestone through a successful capital raise via rights issue and private placement, in line with the ongoing banking sector recapitalisation exercise.

Commenting on the achievement, Dr. Emmanuel Efe Emefienim, Managing Director/Chief Executive Officer of Premium Trust Bank, said:

“Exceeding the N200 billion capital requirement is a defining moment in the bank’s journey. This achievement, coming in just three years of the bank’s existence, is a reflection of our superior financial performance since inception, unwavering commitment to operational excellence, and the trust reposed in us by our shareholders, customers, and regulators.

“As Nigeria’s fastest-growing bank, we are uniquely positioned to not only lead the sector but to continue delivering outstanding value and growth for our stakeholders.”

He added that the bank is now better placed to scale its operations, expand market share, and provide innovative banking solutions tailored to the needs of individuals, businesses, and corporates nationwide.

With this feat, Premium Trust Bank joins the ranks of tier-1 lenders such as Access Bank and Zenith Bank that have already met the CBN’s recapitalisation threshold ahead of schedule, positioning it for stronger competitiveness and enhanced capacity to deliver cutting-edge financial solutions across Nigeria.

The grand event, hosted at Eko Hotel & Suites in Lagos, brought together an array of distinguished guests, including Senator Kashim Shettima, vice president of Nigeria, state governors, business leaders, and cultural icons.

In his goodwill message, Vice President Shettima applauded Zenith Bank for its transformative role in Nigeria’s banking sector, crediting founder Chief Jim Ovia, with pioneering technology-driven banking in Nigeria and building a culture rooted in innovation, integrity, and service to humanity.

He also praised the bank’s seamless leadership transition, describing current GMD/CEO, Dame Dr. Adaora Umeoji, as “a deserving trailblazer whose leadership embodies strategic foresight and empathy.”

35 Years of Growth and Innovation

Founded in May 1990, Zenith Bank began operations in a modest office on Victoria Island and has grown into a global brand synonymous with trust, excellence, and cutting-edge financial services. Notable achievements include:

• First Nigerian bank to adopt internet banking (1999), setting the pace for digital transformation.
• 16 consecutive years as Nigeria’s top Tier-1 bank by capital strength.
• Shareholders’ funds of ₦4.44 trillion and market capitalization of about ₦3 trillion.
• Expansion into key markets, while financing critical sectors such as agriculture, infrastructure, telecoms, and manufacturing.

Commitment to Service Excellence

Speaking at the event, Dame Dr. Adaora Umeoji, Nigeria’s first female GMD/CEO of Zenith Bank PLC, a Tier-1 bank, reaffirmed the bank’s dedication to customers and communities:

“This celebration is not just about our past; it is about the people who have trusted us for 35 years and the future we are building together. Our promise is to continue redefining service, leveraging technology, and making a positive impact on lives and businesses.”

Looking to the Future

With its legacy of bold innovation and customer-first service, Zenith Bank is positioning for the next decades with renewed focus on:

• Sustainability and Green Banking
• Deepening financial inclusion through agent banking (Z-Money) and digital platforms.
• Investments in people and technology to drive Nigeria’s economic transformation.

As Zenith Bank marks 35 years of excellence, its story remains a powerful symbol of what is possible when vision, innovation, and service are woven together for national and global impact.

Summary Snapshot

For many, owning shares in top-performing banks has become a smart way to earn passive income. As several banks reported substantial profits for the 2024 financial year, many financial institutions are distributing the profits to their shareholders.

Here’s a look at the top Nigerian banks rewarding their investors with some of the highest dividend yields in the market based on the 2024 declared dividend:

8. First HoldCo Plc:

Dividend yield: 2.14%

Dividend Growth (2023-2024): 50%

First HoldCo Plc, one of Nigeria’s oldest financial institutions, is the only bank paying the lowest dividends among the FUGAZ banks, placing it right at the bottom of our list of banks paying the highest dividends in Nigeria based on the dividend yield.

Dividend yield reflects the percentage of return on investment based on how much the stock costs. It reflects a more actual return on your investment.

A company dividend per share may be higher, but still has a low dividend yield, because the dividend may be high but when compared to the share price, the actual return on investment is relatively small. For instance, a N5 dividend on a N31 share is a better yield than a N8 dividend on a N68 share.

FirstHoldCo declared a dividend of N0.60 per share for the 2024 financial year, amounting to a 2.14% dividend yield for the year. While the bank payout ratio stood at 3.21%.

The bank dividend marks a 50% growth rate from the N0.40k per share declared in 2023.

7. Stanbic IBTC Holdings Plc:

Dividend Yield: 8.20%

Dividend Growth: 51.5%

Sitting comfortably in the seventh position is Stanbic IBTC Holding Plc with a dividend yield of 8.20%. For the 2024 financial year, Stanbic IBTC Holdings Plc posted a profit after tax of N225.3 billion, a 60% surge from the N140.6 billion recorded in 2023.

As the company’s profit surged, its shareholders dividend also soared to a total dividend of N5 for the year, which consisted of a N2 interim dividend and N3.00 final dividend.

In terms of dividend payout ratio, its payout ratio stood at 29.24%, highlighting the business stability. Payout ratio indicates the percentage of profit paid out to shareholders in the form of dividends.

Companies with higher dividend payout ratios are typically more attractive to investors looking for income-based investments.

However, high payout ratios mean less profit is being reinvested into the business and may impact the company’s growth potential.

Over the years, the bank has shown consistent growth, highlighting its commitment to shareholder returns. It declared N3.50k and N3.30k in 2022 and 2023, respectively, marking 51% year-on-year growth.

6. Wema Bank Plc:

Dividend Yield: 9.10%

Dividend Growth: 50%

Wema Bank Plc might not be among the top banks paying large amounts to investors, as the bank just crossed to the list of banks paying in naira instead of kobo per dividend as the bank declared a dividend of N1.00 per share.

However, based on dividend yield, the bank’s dividend yield stood at 9.10%. That is, as an investor if you had invested prior in the bank earlier, you would be cashing out 9.10% of the total amount invested as a dividend for the year.

For the payout ratio, the bank’s payout ratio is at 20.69%, showing the banks reinvest 79.31% of its profit into the business. Its dividend growth has also seen a consistent increase from 40% increase in 2023, to N0.50k, to 50% increase in 2024, to N1.00 dividend declared per share.

5. Zenith Bank Plc:

Dividend yield: 10%

Dividend Growth: 25%

Zenith Bank Plc, one of the FUGAZ banks, has consistently affirmed its commitment to shareholders returns, reflected in its consistent growth in dividends declared, placing it among the banks paying the  highest dividends in the financial sector.

In 2024, the company’s profit after-tax surpassed N1 trillion, posting N1.03 trillion profit for the year. The company declared a N4.00 final dividend, bringing the total dividend to N5.00.

This accounts for a dividend yield of 10% and a payout ratio of 15%. Highlighting the bank’s growth potential as it reinvested 68.42% of profit back into the business.

It has consistently maintained a steady dividend payout. The bank paid N3.2 per share in 2022, N4 per share in 2023, then N5 per share in 2024. Following its impressive performance, the company has promised a bigger dividend payout to shareholders in the future.

4. Fidelity Bank Plc:

Dividend Yield: 11.06%

Dividend Growth: N162.5%

Fidelity Bank Plc declared a final dividend of N1.25k per share in addition to the interim dividend of N0.85k per share in 2025, bringing the total share declared for 2024 to N2.10, amounting to 11.06%.

The bank payout ratio stood at 31.58%, showing that the bank returned about 31% of its profits to shareholders while it reinvested about 68%.

It has a rapid dividend growth, with N2.10 dividend per share declared in 2024, marking a 162.5% year-on-year growth in payout from the N0.80 declared in 2023, providing an attractive yield to  investors.

3. GTCO Holdings Plc

Dividend yield: 11.81%

Dividend Growth: 150.9%

Based on the amount paid per share alone, GTCO could have ranked first in the list of top paying banks. However, in terms of dividend yield, which reflects the actual return on investment, it currently ranks third with a dividend yield of 11.81%.

GTCO stood out as one of the top-paying dividend stocks in 2024, rewarding shareholders with a total dividend payout of N8.03 per share made up of N1 interim dividend and N7.03 final dividend.

With over N1 trillion declared in profit, it ensured that shareholders felt the impact in their returns, reaffirming its commitment to delivering returns to shareholders with a payout ratio of 23%.

Its dividend growth rate has been on a consistent growth rate with N3.1 dividend per share in 2022, N3.2 per share in 2023, while it more than doubled in 2024 to N8.03.

2. Access Holdings Plc:

Dividend yield: 11.9%

Dividend growth: 19%

Access Holdings Plc, Nigeria’s largest financial institution based on assets, stood in second place with a dividend yield of 11.9% in 2024.

Following its performance in 2024, the bank declared a final dividend of N2.05 per share, combined with the interim dividend of N0.45 per share, bringing the total share for the year to N2.50k.

The bank payout ratio stood at 14.96%, in comparison to some other Tier 1 banks. The bank returns to investors improved in 2024 as it declared N125.29 billion as dividends to shareholders in 2024, a 67 percent increase from the N74.6 billion paid in 2023.

Following its performance, the company shared its forward-looking plan to deliver N1 per share as an interim dividend in 2025.

1. United Bank for Africa (UBA):

Dividend yield: 15.97%

Dividend growth: 78.6%

United Bank of Africa (UBA) takes the top spot for banks paying the highest dividend to shareholders with a dividend yield of 15.97%.

The payout ratio stood at 23%. The dividend per share has also seen considerable growth over the years, growing steadily, with N1.1 per share declared in 2022, N2.8 per share in 2024, while it witnessed a 78.6% surge in 2024 to N5.00 per share.

Although other banks may have paid higher per-share payout, its high dividend yield sets it apart, as the top bank giving the highest return on investment to investors from its declared dividend.

When considering the financial institutions with the best returns based on dividend returns to shareholders, it is not enough to look at the per-share payout amount only, but to also look at it in conjunction with its percentage return, especially when considering income-based stocks.