Jim Ovia Retires as Zenith Bank Chairman; Mustafa Bello Appointed

Jim Ovia has officially stepped down as the chairman of Zenith Bank Plc, concluding his tenure as required by the Central Bank of Nigeria's corporate governance guidelines, which impose a 12-year limit on non-executive directors and board chairmen of financial institutions. This transition was confirmed in a corporate disclosure issued on May 5, 2026.

Ovia's leadership has been praised for significantly shaping the bank's growth and stabilizing its reputation over the years. Following his retirement, Zenith Bank announced the appointment of Mustafa Bello as the new chairman.

Bello, who previously served as a non-executive director at the bank, brings a wealth of experience from both the public and private sectors, including roles such as Federal Minister of Commerce and CEO of the Nigerian Investment Promotion Commission (NIPC). The bank expressed confidence that Bello's leadership would continue to uphold its governance structure and long-term strategic direction.