Jim Ovia retires as Zenith Bank Chair

By Philippine Duru

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Jim Ovia has retired as the chairman of Zenith Bank, bringing to a close a defining chapter in the leadership of one of Nigeria’s leading financial institutions.

The announcement was made by the bank in a statement on Tuesday, confirming that Ovia stepped down following the expiration of his tenure. According to the statement, his exit aligns with corporate governance requirements set by the Central Bank of Nigeria.

Zenith Bank noted that Ovia completed the maximum allowable 12 years as a non-executive director and chairman, as stipulated under the regulator’s guidelines. His retirement marks the end of an era for the bank he founded and helped grow into a major player in Nigeria’s banking sector.

Ovia, widely regarded as a pioneer in modern Nigerian banking, established Zenith Bank in 1990 and has played a central role in shaping its strategic direction and corporate culture over the decades.

The bank did not immediately announce a successor but reiterated its commitment to maintaining strong corporate governance and operational continuity.