Founder of Zenith Bank Plc, Jim Ovia, has retired from his role as Group Chairman after completing his tenure in line with regulatory guidelines.
The development was confirmed in a corporate statement issued by the bank on Tuesday, May 5, noting that Ovia’s exit follows the completion of the mandatory 12-year tenure stipulated for leaders of financial holding companies, non-interest banks, and payment service banks in Nigeria.
The Board commended Ovia for his exceptional leadership, strategic vision, and oversight, which played a pivotal role in the bank’s growth and success since its establishment.
He has been succeeded by Mustapha Bello, who previously served as a non-executive director at the bank.
Bello, a civil engineer, graduated from Ahmadu Bello University in 1978 with a Second Class Upper Division and received the Shell prize for the best engineering project and thesis.
He began his career with the Nigerian Army’s Directorate of Quartering and Engineering Services before moving to the Niger State Housing Corporation as a Senior Civil Engineer.
Bello later served as Nigeria’s Minister of Commerce between 1999 and 2002, and subsequently as Executive Secretary/Chief Executive Officer of the Nigerian Investment Promotion Commission from 2003 to 2014.
He is currently Chairman of Invest-in-Northern Nigeria Limited, a special purpose vehicle focused on driving economic and social development in Northern Nigeria. Over the years, he has contributed to key national initiatives, including the Corporate Affairs Commission’s online project and the development of a World Trade Organization-compliant trade policy for Nigeria.
