Lagos, Nigeria: Jim Ovia, founder and group chairman of Zenith Bank, retired from his position following the expiration of his tenure on Tuesday, May 5, 2026.
Okay News reports that Zenith Bank announced the departure during its 35th Annual General Meeting. The institution stated that the executive stepped down after completing the mandatory 12 years as a non-executive director and chairman.
The retirement complies with corporate governance guidelines issued by the Central Bank of Nigeria. The regulatory framework establishes strict tenure limits for non-executive directors and chairmen operating within the nation’s banking sector.
The former chairman assumed the leadership role on July 16, 2014. Prior to that appointment, he served as the financial institution’s founder and Group Managing Director and Chief Executive Officer from 1990 to 2010.
