Jim Ovia Retires as Zenith Bank Chairman After 12 Years

Jim Ovia announced his retirement as Chairman of Zenith Bank during the bank's 35th Annual General Meeting. His retirement complies with regulatory requirements set by the Central Bank of Nigeria (CBN), which mandates a 12-year service limit for non-executive directors on the boards of financial institutions.

Ovia served as the Group Managing Director and CEO of Zenith Bank from 1990 until 2010, after which he became the Chairman on July 16, 2014. His successor as CEO is Godwin Emefiele, who previously held the position of CBN Governor and was appointed by former President Goodluck Jonathan, serving for eight years under the administration of President Muhammadu Buhari.