A seasoned Nigerian banker and entrepreneur, Jim Ovia, has officially retired from his position as Group Chairman of Zenith Bank Plc following the expiration of his tenure in line with regulatory governance requirements.
This was confirmed in a corporate statement released by the bank on Tuesday, May 5, 2026, noting that his exit aligns with the mandatory 12-year tenure limit stipulated for financial holding companies, non-interest banks, and payment service banks in Nigeria.
Jim Ovia, who founded Zenith Bank and played a pivotal role in its transformation into one of Africa’s leading financial institutions, was commended by the Board for his decades of visionary leadership, strategic direction, and strong corporate oversight.
Following his retirement, he has been succeeded by Mustapha Bello, a former non-executive director of the bank.
Bello brings extensive public and private sector experience to his new role. He is an engineer by training and a former Federal Minister of Commerce (1999–2002), as well as a past Executive Secretary/CEO of the Nigerian Investment Promotion Commission (NIPC), where he served between 2003 and 2014.
