The management of Zenith Bank Plc has announced that Ebenezer Onyeagwu will be its new managing director and chief executive officer.

In a notice sent to the Nigerian Stock Exchange on Monday, the bank said the appointment is subject to the approval of the Central Bank of Nigeria (CBN).

The tenure of Peter Amangbo, who is currently the bank’s CEO, will expire on Friday, May 31 while Onyeagwu will take over from June 1, 2019.

Before his appointment, Onyeagwu had been the bank’s deputy managing director since October 2016 and spent 17 years working with Zenith Bank.

“The appointment is consistent with the bank’s tradition and succession strategy of grooming leaders from within,” the bank said.

Onyeagwu, who is a graduate of accounting from Auchi Polytechnic, began his career at the defunct Financial Merchant Bank in 1991 and later held several management positions in the erstwhile Citizens International Bank Limited until 2002 when he joined Zenith Bank.

He obtained a postgraduate diploma in Financial Strategy a certificate in Macroeconomics from the University of Oxford.

He started out as a senior manager in the Internal Control and Audit Group of the bank and by 2005 had become an assistant general manager in the bank.

I guess Adaora would never become MD/CEO.