Zenith Bank Plc has announced the retirement of its Founder and Group Chairman, Jim Ovia, following the completion of his tenure in line with regulatory provisions.
The development was disclosed in a corporate notice issued in Lagos on Tuesday, May 5, which stated that Ovia had reached the maximum 12-year tenure allowed under corporate governance guidelines for financial holding companies, non-interest banks, and payment service banks in Nigeria.
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Ovia, who established Zenith Bank and played a pivotal role in its expansion and positioning within the banking sector, exits after years of steering the institution’s strategic direction.
The bank’s Board acknowledged his contributions, noting that his leadership provided stability, vision, and effective oversight during his time as chairman.
His departure marks the end of an era for the financial institution, where he has remained a central figure since its founding.