Zenith Bank has announced the retirement of its Founder and Group Chairman, Jim Ovia, following the completion of his regulatory tenure.
In a statement issued in Lagos, Nigeria on May 5, 2026, the bank said Ovia stepped down after serving the maximum 12-year tenure permitted under corporate governance rules governing financial holding companies, non-interest banks, and payment service banks in Nigeria.
The Board commended Ovia for his foundational role in building Zenith Bank into one of Nigeria’s leading financial institutions, crediting him with strong leadership, strategic vision, and effective oversight that shaped the bank’s growth and reputation in the financial sector.
According to the statement, his commitment to corporate governance and value creation for stakeholders played a significant role in strengthening the institution’s market position over the years.
To ensure leadership continuity, the Board announced the appointment of Mustafa Bello as the new Group Chairman.
Bello, who joined the bank’s Board on December 29, 2017, is currently its longest-serving director. The bank described him as an experienced corporate leader with strong governance credentials, strategic oversight skills, and a track record of supporting organisational growth.
Zenith Bank said the leadership transition is part of its commitment to regulatory compliance and sustainable corporate governance practices as it continues to expand its operations.
