By Ayomide Otitoju
Zenith Bank Plc has announced the retirement of its Founder and Group Chairman, Jim Ovia, following the expiration of his tenure in line with regulatory corporate governance requirements.
The bank said Ovia completed the mandatory 12-year tenure allowed for chairpersons of financial holding companies, non-interest banks, and payment service banks in Nigeria.
In a statement, the Board described him as a central figure in the growth of Zenith Bank, crediting his leadership, strategic direction, and oversight for strengthening the institution’s performance and reputation in the financial services sector.
It added that his commitment to governance standards and stakeholder value creation played a key role in positioning the bank as a leading financial institution.
Meanwhile, the bank also highlighted the profile of its incoming leadership, noting that Engr. Mustafa Bello, who previously served as a non-executive director, brings extensive public and private sector experience to the role.
Bello, a civil engineering graduate of Ahmadu Bello University, Zaria, graduated in 1978 with Second Class Upper Division and received the Shell Prize for best engineering project and thesis.
His career includes service in the Nigerian Army’s Directorate of Quartering and Engineering Services, the Niger State Housing Corporation, and later as Federal Minister of Commerce from 1999 to 2002.
He also served as Executive Secretary and Chief Executive Officer of the Nigerian Investment Promotion Commission (NIPC) between 2003 and 2014, where he led investment promotion initiatives and policy development, including trade policy reforms and digital corporate registration systems.
Bello is currently Chairman of Invest-in-Northern Nigeria Limited and has represented the Federal Government at several international conferences and missions.
