Lagos, Nigeria – June 17, 2025
Zenith Bank Plc has announced a temporary suspension of dividend payments, bonuses, and investments in foreign subsidiaries, citing efforts to align with regulatory requirements set by the Central Bank of Nigeria (CBN).
The move follows the CBN’s recent circular (Ref: BSD/DIR/CON/LAB/018/008), which grants regulatory forbearance on Single Obligor Limit (SOL) and certain credit facilities. In a statement issued Tuesday and signed by Company Secretary Michael O. Otu, the bank clarified the nature of its exposure and progress on compliance.
“The Bank has successfully raised and surpassed the new regulatory capital requirement of ₦500 Billion,” the letter reads. “The Bank’s exposure under the SOL forbearance relates solely to a single obligor. We are confident that this exposure will be brought within the applicable regulatory limit on or before 30 June 2025.”
On other credit facilities, the bank noted that only two customers are affected. “We have made substantial provisions in respect of these facilities and have taken appropriate comprehensive steps to ensure full provisioning by 30 June 2025,” the statement added.
Zenith Bank further assured stakeholders that it expects to exit all forbearance arrangements with the CBN by the end of the first half of 2025.
“Accordingly, we remain confident that the Bank will satisfy all relevant conditions to enable it to pay dividend to shareholders in the current year,” the letter concluded.
This development underscores the bank’s proactive stance in maintaining regulatory compliance while safeguarding shareholder interests.
