Zenith Bank Plc has distanced itself from a “doctored video” and manipulated images circulating on social media that falsely depict its Group Chairman, Jim Ovia, endorsing a fraudulent investment scheme known as “Wealth Bridge.”
The bank issued the disclaimer via its official X (formerly Twitter) handle on Tuesday.
According to the statement, the video, reportedly shared from a Facebook account named “Greece Island”, invites members of the public to enter into a business relationship with the so-called entity.
The clip falsely promises returns of up to N2 million weekly on an initial investment of N380,000 and claims that the scheme has the backing or approval of the Central Bank of Nigeria (CBN).
What they are saying
Zenith Bank described the claims in the circulating video as entirely false and urged the public to ignore them.
- “This claim is entirely false and has no connection whatsoever to the Group Chairman, the bank, or any of its affiliate companies,” it said.
- “The video redirects unsuspecting members of the public to an alleged Arise News webpage with the details of this scheme and an embedded registration portal for signups.
- “The general public is hereby advised to disregard these fraudulent communications.”
Backstory
The emergence of AI-generated and manipulated videos has become a growing tool for fraudsters targeting unsuspecting Nigerians.
Last week, Director-General of the World Trade Organization, Ngozi Okonjo-Iweala, alerted the public to a fake AI-generated video that falsely portrayed her promoting a similar investment scheme.
The manipulated video claimed participants could earn millions of naira within a week from a minimum investment of N380,000, describing the opportunity as an “official programme” backed by the government and managed by financial experts.
It also created artificial urgency by stating that limited slots were available.
Such schemes typically promise guaranteed high returns, claim regulatory endorsement, and use the likeness of prominent individuals to gain credibility.
More insights
Zenith Bank cautioned that anyone engaging with the “Greece Island” handle, “Wealth Bridge,” or other related platforms mentioned in the fraudulent materials does so at their own risk.
The bank reiterated its advice for members of the public to disregard the fake videos and verify investment opportunities through official and credible channels.
What you should know
In its unaudited nine-month financial report ending September 2025, Zenith Bank posted a pre-tax profit of N917.4 billion.
For Q3 2025 alone, the Group recorded a pre-tax profit of N291.78 billion, reflecting a 6% increase from N275.8 billion in Q3 2024.
Gross earnings rose by 16.29% year-on-year to N3.37 trillion in the first nine months of 2025, up from N2.89 trillion recorded during the same period in 2024.
