Lagos, NIGERIA — Zenith Bank Plc has announced a major change in its top leadership following the retirement of her iconic founder and Group Chairman, Jim Ovia.
In a corporate filing made available to Okay News on Tuesday, the bank confirmed that Ovia has completed his mandatory 12-year tenure as permitted under the Central Bank of Nigeria (CBN) corporate governance guidelines for financial holding companies.
Ovia, widely regarded as the architect of Zenith’s growth into a continental financial powerhouse, was lauded by the Board for his strategic foresight and commitment to stakeholder value. Under his final full year of leadership in 2025, the bank reported a staggering interest income of ₦3.6 trillion and a post-tax profit of ₦1.04 trillion, despite a industry-wide forbearance resolution related to the liquidation of COVID-19 era liabilities.
The Board announced the appointment of Engr. Mustafa Bello as the new Chairman, an appointment that has already received the necessary CBN approval. Bello, who has served as a director since December 2017, is the Board’s longest-serving member and is expected to maintain the bank’s upward trajectory. His leadership comes at a time when the bank is posting an unaudited pre-tax profit of ₦360.92 billion for the first quarter of 2026 alone.
