The management of Zenith Bank Plc has announced the appointment of Mr. Ebenezer Onyeagwu as the bank’s new managing director and chief executive officer.

The bank disclosed this in a notice to the Nigerian Stock Exchange (NSE) on Monday.

However, the notice said the appointment was subject to the approval of the Central Bank of Nigeria (CBN) and would become effective from June 1.

Onyeagwu will take over from Peter Amangbo whose tenure as the bank’s CEO expires on May 31.

Amangbo was appointed Zenith Bank MD/CEO effective June 1, 2014 to replace Godwin Emefiele who had been appointed CBN governor by then President Goodluck Jonathan.

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

Onyeagwu has been Zenith Bank’s Deputy Managing Director since October 2016 and has spent 17 years working with the bank.

He is a graduate of accounting from Auchi Polytechnic. He began his career at the defunct Financial Merchant Bank in 1991 and later held several management positions in erstwhile Citizens International Bank Limited.

He joined Zenith Bank in 2002 as a senior manager in the Internal Control and Audit Group. By 2005, he had risen to assistant general manager.

Onyeagwu also has a postgraduate diploma in Financial Strategy, a certificate in Macroeconomics from the University of Oxford.