Zenith Bank confirms that Jim Ovia retires as Group Chairman following completion of his tenure, in line with regulatory requirements. Multiple outlets report that Ovia has led the bank as chairman for 12 years since his appointment, and that his retirement is part of an planned transition process.
In connection with Ovia’s exit, Zenith Bank appoints Mustafa Bello as the new chairman. Reports describe Bello as having extensive leadership experience across board and executive roles and highlight his familiarity with corporate governance principles and regulatory expectations. Sources agree that the change takes effect as the bank completes the succession of its founder and chairman.
While details on the exact effective date are not emphasized across the reports, all accounts attribute the leadership transition to the end of Ovia’s term and the bank’s compliance obligations. The coverage focuses on the retirement announcement by Zenith Bank and the selection of Bello as successor to lead the board going forward.
