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.
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 aHe 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).
