Founder of Zenith Bank Plc, Jim Ovia, has officially retired as the Group Chairman of the financial institution after completing his tenure.
The bank disclosed this development in a corporate statement issued on Tuesday, noting that Ovia’s exit follows the expiration of his term in compliance with regulatory guidelines.
According to the statement, he has fulfilled the maximum 12-year tenure allowed under corporate governance rules for financial holding companies, non-interest banks, and payment service banks in Nigeria.
The Board praised Ovia for his pivotal role in building Zenith Bank into a leading financial institution, highlighting his strong leadership, strategic vision, and oversight during his time as chairman.
He has been succeeded by Mustapha Bello, who previously served as a non-executive director of the bank.
Bello is a civil engineer and graduate of Ahmadu Bello University, where he earned a Second Class Upper degree in 1978 and received the Shell prize for the best engineering project and thesis.
He began his career with the Nigerian Army’s Directorate of Quartering and Engineering Services before moving to the Niger State Housing Corporation as a senior civil engineer.
Between 1999 and 2002, Bello served as Nigeria’s Minister of Commerce. He later became the Executive Secretary and Chief Executive Officer of the Nigerian Investment Promotion Commission, a position he held from 2003 to 2014.
Currently, he chairs Invest-in-Northern Nigeria Limited, a vehicle focused on driving economic and social development in the northern region.
Over the years, Bello has been involved in key national projects, including the CAC online registration system and the development of Nigeria’s trade policies aligned with World Trade Organization standards.
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