Zenith Bank Plc has confirmed the retirement of its Founder and Group Chairman, Jim Ovia, following the expiration of his tenure in accordance with corporate governance rules.
In a statement issued in Lagos on May 5, 2026, the bank said Ovia’s exit follows the completion of the 12-year tenure limit prescribed under regulatory guidelines for leadership of financial holding companies and related banking institutions in Nigeria.
The financial institution described the development as the end of a notable leadership period, during which Ovia provided strategic oversight that supported the bank’s growth and sustained performance in the Nigerian banking industry.
The Board expressed appreciation for his contributions, stating that his leadership helped reinforce governance standards and strengthen stakeholder trust in the organisation.
Zenith Bank added that arrangements regarding succession and future board composition will be communicated at a later date.
Ovia, who founded Zenith Bank, has played a central role in shaping the institution since its establishment, guiding its evolution into one of Nigeria’s leading commercial banks.
Leave a Reply