Zenith Bank Receives Approval To Operate As HoldingCo

plc has received the approval of the Central Bank of to operate as a financial holding company.

Zenith Bank Receives Approval To Operate As HoldingCo
Receives Approval To Operate As HoldingCo

In a statement signed by the Company Secretary, Michael Otu, on Friday, the company revealed plans to change its organisational structure.

With this change, the organisation will have a banking subsidiary along with other subsidiaries in the financial services sector.

Part of the statement read, “The CBN has granted approval-in-principle for to operate a non-operating financial holding company structure.

“Furthermore, the CBN approved Mr Jim Ovia as the Chairman of Holdco Plc (in-formation and for Mr Jim Ovia to also continue as the Chairman of until the commencement of Holdco.”

This move will increase the number of banks operating as a financial holding company in the country.

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