Zenith Bank Shakeup As Jim Ovia Steps Down
In Zenith Bank, founder Jim Ovia has stepped down as chairman after completing the maximum tenure allowed by regulators.
The change was announced on Tuesday as part of the bank’s leadership transition. Mustafa Bello has now taken over the role following approval from the Central Bank of Nigeria.
The move follows corporate governance rules that limit how long a non-executive chairman can serve.
Ovia completed 12 years in that position, marking the end of an era for the bank he founded and helped grow into one of Nigeria’s top financial institutions.
During his time, Ovia guided the bank’s direction and strengthened its standing in the financial sector.
The board credited his leadership with shaping the bank’s growth and maintaining strong governance standards over the years.
Bello, who joined the board in 2017, is now tasked with leading the next phase. The bank said he brings experience, steady leadership, and a clear understanding of its operations as it prepares for future expansion.
