Founder of Zenith Bank, Jim Ovia, has retired as Chairman of the bank, marking the end of a defining era in Nigeria’s banking industry.

Ovia, who established Zenith Bank in 1990, is credited with transforming the institution into one of Africa’s most profitable and well-governed financial institutions. His leadership helped drive the bank’s expansion across multiple international markets, including the United Kingdom and other African countries.

Following his retirement, Mustafa Bello has been appointed as the new Chairman of the bank. Bello, a seasoned financial expert, is expected to steer the institution through its next phase of growth and consolidation.

The transition is part of the bank’s succession and corporate governance framework, ensuring continuity in leadership while aligning with regulatory expectations within Nigeria’s banking sector.

In its statement, Zenith Bank praised Ovia’s legacy, highlighting his role in building a resilient institution known for strong corporate governance, innovation, and consistent financial performance.

Ovia’s tenure saw Zenith Bank emerge as a leader in digital banking and financial services, setting benchmarks in efficiency and customer service within the industry.