Jim Ovia has retired as Chairman of Zenith Bank Plc following the completion of his tenure in line with regulatory requirements.
The bank announced the development in a corporate notice issued in Lagos on May 5, 2026, stating that Ovia had completed the mandatory 12-year tenure stipulated under corporate governance guidelines for financial holding companies, non-interest banks, and payment service banks in Nigeria.
As the founder of Zenith Bank, Ovia played a pivotal role in shaping the institution’s growth and development. The Board commended his leadership, strategic direction, and commitment to strong corporate governance, noting that his tenure significantly enhanced the bank’s reputation and positioning within the financial services sector.Until he was appointed Chairman, Engr. Mustafa Bello was a non-executive director in the bank.Bello holds a Bachelor of Engineering degree in Civil Engineering from Ahmadu Bello University, graduating in 1978 with Second Class Upper Division. He also received the Shell Prize for the best project and thesis in the Faculty of Engineering that same year.
He began his career with the Nigerian Army, serving in the Directorate of Quartering and Engineering Services between 1978 and 1979, before moving to the Niger State Housing Corporation as a Senior Civil Engineer from 1980 to 1983.
Bello later served as Nigeria’s Federal Minister of Commerce between 1999 and 2002. He was subsequently appointed Executive Secretary/Chief Executive Officer of the Nigerian Investment Promotion Commission, where he served from 2003 to 2014.
He is currently the Chairman of Invest-in-Northern Nigeria Limited, a special purpose vehicle focused on driving economic and social transformation in Northern Nigeria.
Throughout his career, Bello has been involved in several national projects and has represented Nigeria at various international conferences and engagements.
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