By Ayomide Otitoju
Zenith Bank Plc has announced the appointment of Engr. Mustafa Bello as its new Chairman, following the retirement of Founder and outgoing Group Chairman, Jim Ovia.
The bank disclosed this in a corporate notice issued in Lagos on May 5, 2026, noting that Ovia’s exit followed the completion of his 12-year tenure in line with corporate governance requirements for financial holding companies, non-interest banks, and payment service banks in Nigeria.
Ovia’s retirement marks the end of a leadership era in which he played a foundational role in shaping Zenith Bank into one of Nigeria’s leading financial institutions.
Engr. Bello, who previously served as a non-executive director on the board, brings extensive experience spanning engineering, public administration, and investment promotion.
A graduate of Civil Engineering from Ahmadu Bello University, Zaria, Bello finished in 1978 with a Second Class Upper Division and won the Shell Prize for best project and thesis in the Faculty of Engineering.
His career includes service in the Nigerian Army’s Directorate of Quartering and Engineering Services, followed by his role as Senior Civil Engineer at the Niger State Housing Corporation.
He later served as Federal Minister of Commerce from 1999 to 2002 and was appointed Executive Secretary/Chief Executive Officer of the Nigerian Investment Promotion Commission (NIPC) from 2003 to 2014.
Bello is currently Chairman of Invest-in-Northern Nigeria Limited, a special purpose vehicle focused on economic and social transformation in Northern Nigeria.
Over the years, he has been involved in key national projects, including the Corporate Affairs Commission (CAC) online registration initiative and the development of a WTO-compliant trade policy for Nigeria, while also representing the Federal Government at various international conferences and missions.
