CBN Guideline: Jim Ovia Retires, Mustafa Bello Takes Over As Zenith Bank Chairman



Jim Ovia and Mustafa Bello 

 


Banking wizard, Jim Over has retired as the chairman of Zenith Bank Plc following the expiration of his tenure in line with the guideline of the Central Bank of Nigeria (CBN)

The bank disclosed this in a corporate notice issued in Lagos on May 5, 2026.

Ovia completed 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, he 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.

To fill the vacuum created by the retirement of Mr. Ovia, Engr. Mustafa Bello a non-executive director in the bank was appointed as chairman.

Engr. Bello 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 in the Directorate of Quartering and Engineering Service (Nigerian Army) between 1978 and 1979. He later joined the Niger State Housing Corporation between 1980 and 1983 as a Senior Civil Engineer.

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.

He has been hinvolved in several projects in Nigeria, including the CAC online project in 2002, developing a WTO-consistent Trade Policy for the Federal Republic of Nigeria, etc.

He has attended several conferences, missions, and meetings and represented the Federal Government of Nigeria.


Comments

Post a Comment

Popular posts from this blog

Toyin Fayose (Toyin Odo O Gan Gan) Remanded in Prison Over Alleged Cyber Bullying Of MD/CEO GEC Cosmetics, Others

Image
Toyin Fayose A woman, Toyin Fayose, also known as Toyin Ido Ogangan, has been remanded in Kirikiri Correctional Center by the Lagos State Magistrate Court 2 sitting in Ebutte-Meta, Lagos State over her alleged involvement in a cyber bullying and inciting the public against Alhaja Yinka Adesoye (MD/CEO GEC Cosmetics) her family members and others.  She was arraigned before Magistrate Court 2 in Ebutte Meta, Lagos State located on Lagos Mainland, Lagos State, on Wednesday, October 22,  2025. The defendant (Toyin Fayose) a resident of Peter Fayose Housing Estate, ikole, Ekiti State, and also an Environmental Health Officer, whose head office is in Abuja, is facing a two count -count charge bordering on conspiracy, breaching of public peace, cyber bullying, all in connection with a criminal move to de-market Alhaja Yinka Adesoye of GEC Cosmetics, her family members and others.  Yinka Adesoye  According to the charges brought by Inspector General of Police Prosecutors: Th...
Read more

Ojomu Royal Family Youth Wing slams Faceless Group’s 72-Hour Ultimatum To Lagos CJ, names Fakorede, Akinloye, Olagbade As Alleged Masterminds

Image
The Youth Wing of the Ojomu Royal Family has strongly condemned the 72-hour ultimatum issued to the Lagos Chief Judge by a faceless group, describing the move as baseless and provocative.  In a statement released on Saturday, the group alleged that the individuals behind the anonymous threat have been identified as Basir Fakorede, Jide Akinloye, and Benson Olagbade, urging authorities to investigate their roles and bring those responsible to justice. Full Statement:   Rejoinder: The So-Called "Concerned Youth Movement" And Its 72-Hour Ultimatum To The Lagos State Chief Justice  The attention of the Youth Wing of the Ojomu Royal Family of Ajiran, Eti-Osa Local Government Area of Lagos State, has been drawn to a reckless and unfounded publication by a faceless group styling itself as the “Concerned Youth Movement,” purporting to issue a 72-hour ultimatum to the Chief Judge of Lagos State. Ordinarily, such a puerile and intellectually hollow publication would not merit any r...
Read more

Coalition Urges IGP To Rebuild Public Confidence On Nigerian Police …Seeks Investigation Of AIG Moshood Time In Lagos

Image
The Coalition of Civil Society Organisations in collaboration with the Centre for Citizens’ Rights has urged the Inspector General of Police to rebuild public confidence in the Nigeria Police Force. Speaking at a press conference in Lagos, the President of the Coalition, Adeyemi Olorunsogo and its Secretary, Kolawole Abe Emmanuel, said Nigerians expect professionalism, impartiality, and accountability from the leadership of the Force. The Coalition expressed concern over consistent and clear repeated interference of the Lagos police command in matters that are purely civil in nature, and actions that suggest a troubling pattern of bias in the handling of sensitive disputes. It said: “Over the past few weeks, our coalition has repeatedly drawn the attention of the public to the disturbing conduct of the Nigeria Police Force in Lagos State, particularly under the leadership of the immediate past Commissioner of Police, Mr. Olorundare Jimoh Moshood. “We, therefore, call on the newly appoi...
Read more