Mustafa Bello Appointed New Chairman of Zenith Bank

Mustafa Bello has been appointed as the new chairman of Zenith Bank PLC, effective May 5, 2026, following the retirement of Jim Ovia, the bank's founder and outgoing group chairman. Ovia completed his mandatory 12-year tenure in accordance with corporate governance regulations.

Mustafa Bello, who holds a degree in civil engineering from Ahmadu Bello University, Zaria, graduated in 1978 with a second-class upper division and received the Shell Prize for the best project thesis in his faculty. His professional career began in the Nigerian Army as Director of Quarter Engineering Services from 1978 to 1979.

He later served as a senior civil engineer at the Niger State Housing Corporation from 1980 to 1983 and held various positions in public service, including as the Minister of Commerce from 1999 to 2002 and as the Executive Secretary and Chief Executive Officer of the Nigerian Investment Promotion Commission (NIPC) from 2003 to 2014. Bello currently chairs the Invest Northern Nigeria Limited, focusing on economic and social development in the northern region of Nigeria.

His leadership at Zenith Bank comes at a time of strong financial performance, with the bank reporting a pre-tax profit of ₦1.26 trillion for the 2025 full-year results and ₦360.92 billion for the first quarter of 2026.