Zenith Bank Set to Commence N290bn Capital Raising through Rights Issue, Public Offer Kayode Tokede Zenith Bank Plc is set to raise N290 billion through a combination of a rights issue and a public offer in compliance with the revised
minimum capital requirements for Nigerian commercial banks introduced by the Central Bank of Nigeria (CBN). The announcement was made during the Zenith Bank rights issue/public offer signing
ceremony held yesterday, in Lagos. This event marked a significant milestone in the bank’s previously announced capital-raising programme, aimed at bolstering its capital base and supporting its growth trajectory
across its banking and non-banking subsidiaries. The rights issue offers 5,232,748,964 ordinary shares of 50 Kobo each at N36 per share, while the offer for subscription presents 2,767,251,036
ordinary shares of 50 kobo each at N36.50 per share. The rights issue affords existing shareholders the opportunity to purchase additional shares in proportion to their current holdings
and is being offered on the basis of one new ordinary share for every six existing ordinary shares held as of Wednesday, July 24, 2024. Continued on page 9
NCC Orders Immediate Reactivation of Lines Barred by Telcos... Page 9 Tuesday 30 July, 2024 Vol 29. No 10702. Price: N400
www.thisdaylive.com TR
UT H
& RE A S O
N
48 Hours to Go, Countrywide Interventions against Protests Mount, Youths Adamant
Tinubu approves creation of youth secretariat for FCT, soldiers take over Abuja roads Akpabio,Abbas summon emergency plenary for tomorrow as Barau, Kalu, Sani urge restraints Afenifere insists it’s not in support of rally Sani, Diri, Ekiti govt beg demonstrators HURIWA tells FG to stop creating panic CSOs defend right to peaceful assembly Delta monarch enjoins youths to shelve idea Ohanaeze youth declares no protest in S’east
By Our Reporter Interventions have continued to scale
up ahead of the planned 10 days nationwide protest against hardship and bad governance under President
Bola Tinubu, who assumed office nearly months ago, on May 29, 2023. Although without known faces
or identifiable leadership, some youths in the country had announced countrywide protests several weeks
ago against the current economic difficulties in the land. But the federal government and
several stakeholders stood against Continued on page 9
Tinubu Directs NNPCL to Commence Crude Oil Sale to Dangote, Others in Naira Directive will reduce Nigeria's FX burden, save $7.32bn annually, says FIRS boss Onyejeocha: Govt'll ensure full implementation of new minimum wage President already protesting on behalf of youths, Idris declares FEC okays agreement on fugitive repatriation, prisoner swap with Spain
Story on page 9
Zenith Bank Capital Raising Signing Ceremony...
R-L: Executive Director, Zenith Bank Plc, Mr. Louis Odom; Executive Director, Mr. Akin Ogunranti; Chief Executive, Stanbic IBTC Capital Limited, Mr Oladele Sotubo; Group Managing Director/Chief Executive, Zenith Bank Plc, Dame (Dr.) Adaora Umeoji, OON; Company Secretary, Mr. Micheal Otu; Executive Director, Stanbic IBTC Capital Limited, Mrs Oyindamola Akinyemi; Executive Director, Mr. Henry Oroh; Executive Director, Mrs. Adobi Nwapa; and Executive Director, Mr. Adamu Lawani; during the Zenith Bank Capital Raising Signing Ceremony at the Civic Centre, Victoria Island, Lagos... yesterday.
Tinubu Signs N70,000 Minimum Wage Bill into Law Amid Unease over Planned Protest... Page 5