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Zenith Bank Raises Over N350 Billion In Combined Rights Issue And Public Offer

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Zenith Bank Plc has raised a total of N350.4 billion through its recently concluded hybrid Rights Issue and Public Offer.

 

In a statement released to the Nigerian Exchange (NGX) Group on Sunday, January 26, 2025, the Bank announced that it has secured the full regulatory approval of the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC) in respect of its recently concluded Hybrid Offer, comprising of a Rights Issue of 5,232,748,964 Ordinary Shares of 50k each at N36.00 per share and Public Offer of 2,767,251,036 Ordinary Shares of 50k each at N36.50 per share.

 

The Public Offer was 160.47% subscribed, with a total of 4,440,587,250 Ordinary Shares allotted based on the terms of the Offer and the CBN’s Capital Verification Exercise. The Rights Issue was also 100.18% subscribed with a total 5,232,748,964 ordinary shares allotted.

 

Lauding the development, the Group Managing Director/Chief Executive of Zenith Bank Plc, Dame (Dr.) Adaora Umeoji, OON, said: “The success of our combined Rights Issue and Public Offering is a testament to the strong confidence and trust that our shareholders, investors, and stakeholders have in Zenith Bank’s vision, strategy, and brand. This landmark transaction underscores our commitment to strengthening our capital base, enhancing our competitive edge, and positioning ourselves for sustainable growth and profitability. We deeply acknowledge the invaluable and strong support of our regulators, the Central Bank of Nigeria and the Securities and Exchange Commission, and are grateful for their guidance in ensuring the integrity and efficacy of the exercise. This successful transaction will enable us to continue delivering value to our stakeholders, while also contributing to the growth and development of the economy.”

 

Proceeds from the Hybrid Offer will be strategically deployed to solidify the Bank’s position as the leading financial institution in Nigeria. Additionally, the funds will support the Bank’s expansion into other markets in Africa and Europe, investment in technology and other Group-wide growth initiatives.

 

The Offer, which opened on August 1, 2024 and closed on September 23, 2024 and sought to raise N290 billion through a combination of a Rights Issue and Offer for Subscription, was successfully executed largely as a digital Offer, embracing the power of technology to improve access to the equity capital market as it seamlessly leveraged the Nigerian Exchange Limited’s e-Offer platform.

 

The results of the Hybrid Offer, which garnered substantial interest from domestic and international investors, has positioned the Bank as one of the few banks in Nigeria to meet and even surpass the CBN’s N500 billion minimum capital requirements for Banks with International Authorization well ahead of the March 2026 regulatory deadline. The Bank’s share capital will now rise to N614.65 billion, which is N114.65 billion above the regulatory minimum requirement.

 

 

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Obeena Delivers Show-Stopping Performance at Igbotic Game Night in East London

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East Ham, East London — 8 August 2026: The vibrant Igbo community in the UK came together for an unforgettable evening of entertainment, culture and social connection at Igbotic Game Night, one of the biggest social gatherings celebrating the Igbo community in the United Kingdom.

Among the night’s standout moments was an electrifying performance by Afrobeats artist Obeena, who took the stage and immediately captured the attention of the crowd.

Obeena delivered performances of two of his hit songs, “Wara Wara” and “Banging,” bringing his energetic sound and distinctive stage presence to the event. From the opening moments of his set, fans responded with excitement, singing along, dancing and enthusiastically supporting the artist.

His performance of “Wara Wara” created an instant connection with the audience, while “Banging” took the energy to another level. Obeena’s ability to engage the crowd transformed his set into one of the most memorable entertainment moments of the evening.

Held in East Ham, East London, on 8 August 2026, Igbotic Game Night provided a unique platform for members of the Igbo community to celebrate their heritage while enjoying music, games and social interaction. Events such as this continue to play an important role in bringing together Nigerians and the wider African diaspora in the UK.

For Obeena, the performance was another opportunity to showcase his growing artistry and connect directly with fans. His energetic delivery, stage confidence and ability to command the audience demonstrated why his live performances continue to attract attention.

By the end of his set, Obeena had left the crowd amazed and added another memorable chapter to his journey as an Afrobeats artist. His appearance at Igbotic Game Night was not simply a performance—it was a celebration of Nigerian music, culture and community.

 

With performances like this, Obeena continues to demonstrate his ambition to take his sound beyond the studio and onto major stages, connecting with audiences through music, energy and an unmistakable African identity.

Igbotic Game Night brought the Igbo community together. Obeena gave them a performance to remember.

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Afrocentric Music Festival Invites 1,000 Music Artists!

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Are you a rising African artist ready to take your career to the next level? Showcase your talent on a massive stage at the AFROCENTRIC Music Festival in Abuja, running from November 7–18, 2026! Presented by NICOCUSA’s AFROCENTRIC Cultural Expo, this premier platform is inviting 1,000 up-and-coming artists to perform live before tens of thousands of music lovers, industry insiders, and energetic fans. Don’t miss this life-changing opportunity to launch your music career on a global stage—slots are limited, so visit afrocentricculturalexpo.com to register today, and follow us on social media for live updates!

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KenryWhite Releases “Kilometers” & “The King” A Powerful Double Release Celebrating Faith, Purpose, and the Journey to Greatness

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Nigerian Afrofusion artist KenryWhite unveils his compelling two-track release, “Kilometers & The King,” a project that explores the realities of life’s journey while affirming identity, faith, and purpose.

Leading the release is “Kilometers,” an uplifting anthem that reflects on the distance between dreams and fulfillment. Through heartfelt lyrics, captivating melodies, and vibrant Afrobeats production, KenryWhite encourages listeners to embrace the process, remain resilient, and keep moving forward despite life’s challenges.

Complementing the project is “The King,” featuring Wonder J. The record is a bold declaration of confidence, royalty, and divine purpose, blending infectious Afrobeats rhythms with inspiring lyricism. Together, the duo delivers a record that celebrates self-belief, leadership, and the mindset required to overcome every obstacle.

With rich storytelling, memorable melodies, and contemporary African sounds, “Kilometers & The King” showcases KenryWhite’s artistic growth while delivering music that inspires, motivates, and connects with audiences across the globe.

Now available on all major streaming platforms, “Kilometers & The King” invites listeners to embrace the journey, recognize their worth, and walk confidently into their purpose.

 

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