…as Mustafa Bello is appointed new chairman
By Damilare Adeleye
Jim Ovia has officially retired as Chairman from the Board of Zenith Bank Plc.
This was revealed in a corporate notice by the Bank on Tuesday.
Jim Ovia who founded the Bank steps down after completing the mandatory 12-year tenure permitted under corporate governance guidelines for financial holding companies, non-interest banks, and payment service banks in Nigeria.
As the founder of Zenith Bank, Ovia has been a central figure in its growth trajectory and was credited by the Board for providing strong leadership, strategic direction, and effective oversight throughout his time as chairman.
The Board noted that his commitment to governance standards and stakeholder value creation significantly enhanced the Group’s positioning and reputation in the financial services sector.
The Bank also announced the appointment of Engr. Mustafa Bello as the new substantive group chairman.
Until his latest appointment, Bello was a non-executive director in the bank.
He graduated with B.Engr. (Civil Engineering), from the Ahmadu Bello University (ABU), Zaria, in 1978 with Second Class Upper Division, and won the Shell prize for best project and thesis for Faculty of Engineering in 1978.
He served as a cabinet Minister of the Federal Republic of Nigeria as the Federal Minister of Commerce between 1999 and 2002. He was subsequently appointed Executive Secretary/Chief Executive Officer of the Nigerian Investments Promotion Commission (NIPC) between November 2003 and February 2014.
He is currently the Chairman of Invest-in-Northern Nig. Limited, a special purpose vehicle for the economic and social transformation of the Northern Nigerian Economy.