Jim Ovia steps down as Zenith Bank Group Chairman, after 36 years in active service

 







By allcitynews.ng



Following expiration of his tenure
in line with regulatory requirements, Jim Ovia has stepped down as Group Chairman of Zenith Bank.

His stepping down became imperative to adhere strictly to the laid down law, after 36 years active service.

The Bank’s statement which made this known during Bank's 2026 Annual General Meeting (AGM) which took place on Tuesday, May 5, 2026 in Lagos explained that "Ovia stepped down from the position following his completion of the mandatory 12-year tenure permitted under corporate governance guidelines for financial holding companies, non-interest banks, and payment service banks in Nigeria.

It would be recalled that in Ovia who founded Zenith Bank1990, has actively steer the ship of the bank from inception to the global recognition. Through his leadership, the bank experienced tremendous growth. He was a central figure in its growth trajectory and was credited by the Board for providing strong leadership, strategic direction, and effective oversight throughout his time as chairman.

He is succeeded by Mustapha Bello.

Until he was appointed Chairman, Bello was a non-executive director in the bank.

Engr. Mustafa Bello

Engr. Mustafa Bello graduated with B.Engr. (Civil Engineering), from the Ahmadu Bello University (ABU), Zaria, in 1978 with Second Class Upper Division, and won the Shell prize for best project and thesis for the Faculty of Engineering in 1978.

He served in the Directorate of Quartering and Engineering Service (Nigerian Army) between 1978 and 1979. He later joined the Niger State Housing Corporation between 1980 and 1983 as a Senior Civil Engineer.

He served as a cabinet Minister of the Federal Republic of Nigeria as the Federal Minister of Commerce between 1999 and 2002.

He was subsequently appointed Executive Secretary/Chief Executive Officer of the Nigerian Investments Promotion Commission (NIPC) between November 2003 and February 2014.

He is currently the Chairman of Invest-in-Northern Nig. Limited, a special purpose vehicle for the economic and social transformation of the Northern Nigerian Economy.

He has been involved in several projects in Nigeria, including the CAC online project in 2002, developing a WTO-consistent Trade Policy for the Federal Republic of Nigeria, etc.

He has attended several conferences, missions, and meetings and represented the Federal Government of Nigeria.

   
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