Zenith Bank Plc has named Engr. Mustafa Bello as its new chairman, succeeding founder Jim Ovia, who retired after completing his regulatory tenure.
The leadership change follows compliance with corporate governance rules set by the Central Bank of Nigeria, which limit the tenure of bank chairmen.
Bello is a familiar figure within the institution, having served as a non-executive director since 2017. His elevation is viewed as a continuity move, given his experience on the board and involvement in the bank’s governance over the years.
He began his career in the Directorate of Quartering and Engineering Services of the Nigerian Army between 1978 and 1979, before moving to the Niger State Housing Corporation, where he worked as a senior civil engineer.
Bello later transitioned into public service at the federal level, serving as Minister of Commerce under former President Olusegun Obasanjo from 1999 to 2002. During his tenure, he contributed to trade and investment policy development.
In 2003, he contested the Niger State governorship election under the People’s Redemption Party (PRP), where he emerged as runner-up.
He subsequently served as Executive Secretary and Chief Executive Officer of the Nigerian Investment Promotion Commission (NIPC) from 2003 to 2014, playing a role in attracting foreign investment and strengthening Nigeria’s engagement with global investors.
Beyond public office, Bello chairs Invest-in-Northern Nigeria Limited, an initiative aimed at promoting economic growth in the northern region.
Born on January 31, 1954, he studied Civil Engineering at Ahmadu Bello University, Zaria, graduating with a Second Class Upper Division and receiving a Shell Prize for academic excellence in his faculty.
His career has also included participation in international trade missions and involvement in policy initiatives such as the modernisation of Nigeria’s corporate registry systems and trade framework development.
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