End of an Era: Jim Ovia Steps Down as Zenith Bank Chairman, Mustafa Bello Takes the Helm

Zenith Bank Plc has confirmed the retirement of its Founder and Group Chairman, Jim Ovia, after completing the mandatory 12-year tenure for financial holding companies and payment service banks. Ovia is credited with transforming the bank from a modest startup into a leading tier-one financial institution. The Board praised his visionary leadership, strategic direction and effective oversight, noting that his stewardship strengthened governance and enhanced the bank’s reputation in Nigeria’s financial sector. In a swift succession, Mustafa Bello—formerly a non-executive director—has been appointed the new Group Chairman. Bello brings decades of experience in engineering, public service and investment promotion, including roles as Minister of Commerce and head of the Nigerian Investment Promotion Commission.

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