Zenith Bank Plc has announced the retirement of Alhaji Baba
Tela as its Non-Executive Director. Tela’s retirement took effect from October
2, 2018.
The Bank’s Board of Directors at a meeting held on November
15, 2018, approved Tela’s retirement having served the Group for almost 12
years.
Alhaji Baba Tela’s profile
Tela graduated with B.Sc. in Business Administration and
Finance from the Ahmadu Bello University (ABU), Zaria, in 1982.
Tela served as a Senator of the Federal Republic of Nigeria
from 2002 to 2003 and was again, re-elected for a second tenure from 2003 to
2007. At the Senate, Tela served on various Committees including Water
Resources, Cooperation and Integration in Africa and NEPAD. He also served as
Director on other boards including the Boards of the Governing Council of the
Federal University of Technology, Mina, Coats Brothers (W.A.) Limited among
others.
Tela served as Special Assistant to the President on
Economic Matters between 2001 and 2002.
He commenced his working career as a Financial Analyst with
Masenterp Nigeria Limited in late 1983 and has worked in various capacities and
organisations until he became Special Assistant to the Presidency on Economic
Matters.
Tela was appointed as a Independent Non-Executive Director
at Zenith Bank Plc on July 17, 2007. He has served in various capacities in the
past including Executive Director, Yarwa Consolidated Industries Limited,
Managing Director/Chief Executive – Masenterp Nigeria Limited.
About Zenith Bank
Zenith Bank is a Nigerian multinational financial services
provider. It is licensed as a commercial bank by the Central Bank of Nigeria
(CBN). Zenith Bank is a large financial service provider in Nigeria and
Anglophone West Africa.
The bank recent results for the 9 months ended September 30,
2018 show Gross Earnings fell from N531 billion in 2017 to N474 billion in
2018. This amounts to a 10.7% decline year on year.
Profit after tax, however, increased from N129 billion in
2017 to N144 billion in 2018. That amounts to a 11.6% increase year on year.
Earnings per share also increased from N4.11 in 2017 to
N4.58 in 2018.
Zenith Bank Plc is currently trading at N23.15 on the floor
of the Nigerian Stock Exchange (NSE).
