Jim Ovia
Zenith Bank has confirmed the retirement of its founder and Group Chairman, Jim Ovia, following the completion of his tenure.
The development was announced on Tuesday at the bank’s 35th Annual General Meeting and detailed in an official statement.
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According to the bank, Ovia exited the role after fulfilling the required 12-year term as a non-executive director and chairman, in line with corporate governance regulations set by the Central Bank of Nigeria.
Ovia assumed the chairmanship on July 16, 2014, returning to lead the board after previously serving as founder and Group Managing Director/Chief Executive Officer from 1990 to 2010.
Zenith Bank noted that his time as chairman was defined by strong leadership, clear strategic direction, and effective oversight of the board.
The bank expressed appreciation for his contributions, highlighting his role in strengthening governance, enhancing the institution’s reputation, and driving long-term value for stakeholders.
It also commended his extensive leadership experience, deep knowledge of governance standards, and consistent demonstration of integrity and sound judgment.
Meanwhile, the board has approved the appointment of Mustafa Bello as the new chairman, following a decision reached on April 27 to ensure continuity.
Bello, an engineer who joined the board on December 29, 2017, is currently the longest-serving director at the bank.
Zenith Bank said his appointment is expected to provide stability, maintain strong governance practices, and ensure a smooth transition in leadership
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