Zenith Bank Plc has moved to reassure shareholders that its dividend payouts are not in jeopardy, despite being among the banks affected by the Central Bank of Nigeria’s (CBN) recent directive suspending dividends, bonuses, and new foreign investments for lenders with unresolved regulatory forbearance.
In a statement dated June 17, 2025, and filed with the Nigerian Exchange, the tier-1 lender confirmed that it has already surpassed the new capital requirement of N500 billion introduced by the apex bank.
It also clarified that its forbearance status relates to just a single obligor under the Single Obligor Limit (SOL), which it expects to regularize by June 30, 2025.
The bank further disclosed that only two other customers are tied to its remaining forbearance-related credit exposures.
“With respect to the forbearance granted on other credit facilities, the Bank confirms that this applies only to two customers.”
The bank also stated that substantial provisioning has already been made for these loans, with full resolution expected before the end of the first half of 2025.
Once these steps are completed, Zenith says it will no longer fall under any CBN forbearance monitoring.
“We have made substantial provisions in respect of these facilities and have taken appropriate and comprehensive steps to ensure full provisioning by 30 June 2025.
Upon completion, the Bank will no longer be under any forbearance arrangements in this regard.
The Bank expects to exit all CBN forbearance arrangements by the end of the first half of 2025.”
This development follows the CBN’s June 13 circular, which effectively froze dividends and other capital outflows for banks still operating under regulatory leniency frameworks introduced in the aftermath of COVID-19 and the economic dislocations that followed.
“We remain confident that the Bank will satisfy all relevant conditions to enable it to pay dividends to shareholders in the current year,” the statement read.
Zenith’s swift response is likely aimed at calming market nerves as investors reassess the impact of CBN’s tightened rules, which have already begun to weigh on banking stocks across the NGX.