Zenith Bank Plc has appointed Engr. Mustafa Bello as its new Chairman of the Board of Directors, effective immediately. The appointment was approved by the Central Bank of Nigeria (CBN) and formally ratified by shareholders at the bank’s Annual General Meeting held on May 5, 2026.
The decision is seen as a deliberate move to strengthen board continuity and reinforce the corporate governance standards that have long defined Zenith Bank’s reputation. Bello is no stranger to the boardroom — he has been a director of the bank since December 29, 2017, serving on key committees including the Board Audit and Compliance Committee, the Board Governance, Nomination and Remuneration Committee, and most recently as Chairman of the Board Risk Management Committee.
His elevation to the top seat is backed by decades of leadership experience, deep familiarity with regulatory expectations, and a consistent record of integrity and sound judgment that made him the standout choice to steer the board into its next phase.
Bello brings to the role a career spanning over four decades across Nigeria’s public and private sectors. He served as Minister of Commerce under President Olusegun Obasanjo from 1999 to 2002, where he shaped Nigeria’s WTO-compliant Trade Policy and championed the digitisation of business registration through the Corporate Affairs Commission’s landmark 2002 online project. He later served as Executive Secretary and CEO of the Nigerian Investment Promotion Commission (NIPC) from November 2003 to February 2014, where he played a central role in attracting foreign direct investment and building Nigeria’s bilateral and multilateral investment relationships.
An alumnus of Ahmadu Bello University, Zaria, where he graduated in 1978 with a Second Class Upper degree in Civil Engineering, Bello won the prestigious Shell Prize for the best project and thesis in the Faculty of Engineering. He launched his career with the Nigerian Army’s Directorate of Quartering and Engineering Service before moving to the Niger State Housing Corporation as a Senior Civil Engineer.
Beyond Zenith Bank, he currently chairs Invest-in-Northern Nigeria Limited, a special purpose vehicle focused on the economic and social transformation of Northern Nigeria. He has also served on the boards of South Africa’s Eskom Holdings Limited and FrieslandCampina WAMCO Nigeria Plc as an Independent Non-Executive Director.
Bello holds Fellowship of the Nigerian Society of Engineers, membership of the Council for the Regulation of Engineering in Nigeria (COREN), and Fellowship of the Academy of Natural Sciences and Engineering in Nigeria (ANSEN).
Zenith Bank remains one of Africa’s foremost financial institutions, with operations spanning Nigeria, the United Kingdom, the United Arab Emirates, Ghana, Sierra Leone, The Gambia, and Côte d’Ivoire.
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