The appointment takes effect from June 1, 2019, and it is subject to the Central Bank of Nigeria (CBN) approval. 

Onyeagwu will be replacing Peter Amangbo who took over the reins in June 2014 and ensured that Zenith Bank sustains its growth trajectory.

Peter AmangboMD/CEO, Zenith Bank Plc
Peter AmangboMD/CEO, Zenith Bank Plc

Michael Osilama Otu, Company Secretary and General Counsel in a regulatory disclosure on Monday said the Onyeagwu's appointment is consistent with the Bank's tradition and succession strategy of growing leaders from within. 

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Prior to this appointment, Onyeagwu has been the deputy managing director of the Bank since October 28, 2016, and has close to thirty (30) years cognate banking experience of which seventeen (17) years has been with Zenith Bank. 

He is an alumnus of the prestigious University of Oxford, England, from where he obtained a Postgraduate Diploma in Financial Strategy, and Certificate in macroeconomics. He also undertook extensive executive-level Business Education in Wharton Business School of the University of Pennsylvania, Columbia Business School of Columbia University and the Harvard Business School, all in the United States., as well as Lagos Business School of the Pan Africa University, Nigeria. 

Onyeagwu is a graduate of Accounting at Auchi Polytechnic and A Fellow of the Institute of Chartered Accountants of Nigeria.