The announcement was made on Tuesday during the bank’s 35th Annual General Meeting and was also contained in an official statement.
Zenith Bank has announced the retirement of its founder and Group Chairman, Jim Ovia, following the completion of his tenure.
The announcement was made on Tuesday during the bank’s 35th Annual General Meeting and was also contained in an official statement.
According to the bank, Ovia stepped down after serving the mandatory 12-year tenure limit for non-executive directors and chairmen, in line with the Central Bank of Nigeria’s corporate governance guidelines.
Ovia assumed the role of chairman on July 16, 2014, after previously serving as the bank’s Founder and Group Managing Director/CEO between 1990 and 2010.
The bank praised his leadership, describing his time in office as one defined by strategic direction, strong governance, and effective oversight of the board.
“The board expresses its deep appreciation to Mr. Jim Ovia for his outstanding service and invaluable contributions,” the statement read.
Meanwhile, the board has approved the appointment of Mustafa Bello as the new chairman, following a meeting held on April 27, to ensure leadership continuity.
Bello, an engineer and the bank’s longest-serving director since joining the board on December 29, 2017, is expected to provide stability and sustain high governance standards.
Zenith Bank said his appointment will support a smooth transition while maintaining strategic continuity across the organisation.
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