Zenith Bank appoints Mustafa Bello as new Chairman as Jim Ovia steps down

Zenith Bank has authorized the appointment of Mustafa Bello as the new chairman, following the expiration of founder and group chairman Jim Ovia’s tenure.

Bello’s confirmation was announced on Tuesday during the bank’s 35th Annual General Meeting and later confirmed in a statement.

According to the statement, Bello—an engineer who joined the board on December 29, 2017—is now the bank’s longest-serving director.

Ovia stepped down after serving as a non-executive director and chairman for the mandated 12 years, in line with the Central Bank of Nigeria’s corporate governance requirements.

He had become chairman on July 16, 2014, returning to the role after previously serving as founder and group managing director/CEO from 1990 to 2010.

Zenith Bank described Ovia’s tenure as marked by strong leadership, strategic direction, and effective board oversight.

“The board expresses its deep appreciation to Mr. Jim Ovia for his outstanding service and invaluable contributions. His visionary leadership, unwavering commitment to good governance, and dedication to stakeholder value creation significantly strengthened the group’s strategic positioning and reputation during his tenure.

He has extensive leadership experience at board and executive levels, a strong understanding of corporate governance principles and regulatory expectations, and a proven track record in strategic oversight and organizational growth. He has also demonstrated integrity, independence, and sound judgment,” the statement read.

Zenith Bank noted that Bello’s nomination will ensure continuity, stability, sustained strong governance standards, and a smooth leadership transition.

About The Author

Dele Fashomi

Dele Fashomi, seasoned journalist and communication teacher, is a holder of Master of Arts degree in Communication and Language Arts from the University of Ibadan in 1992/93.

Earlier, he had bagged a Bachelor degree from the same university in 1984, after which he proceeded to the Nigerian Institute of Journalism, Lagos, in 1990, for a postgraduate diploma in Journalism.

He had done many courses in communication, including the EU-BBC Editing Course in 2002.

Mr. Fashomi combines effectively the practice, research and teaching of communication. And to date, he has published two academic works in communication: Issues in Communication Technology and Policy (2010) and Economic and Social Issues in Advertising and PR (2013).

He had his first break in the Nigerian media in Concord Newspapers in 1990 and today, he has over two and half decades experience earned in several newspapers.

He has been part of many start-ups, such as The Republic (1987), The Comet (1999), The Anchor 2001 – 2002; Sun Newspapers (2003); Westerner newsmagazine (2005 – 2010) as Editor; National Life (2011) as Sunday Editor, and Newswatch Newspapers (2012- 2016) as Daily Editor.

Dele Fashomi is now the Publisher/Editor-in-Chief of Newstide247.com newspaper online, which he started in July 2015. He is also into biography writing, with many books in his trail, some of which he wrote alone and one he co- authored with his mentor, Mr Dare Babarinsa, entitled:  Olabiyi Durojaiye – DARE TO BE DiFFERENT. He also guided and collaborated with Pa Olatunji Odusanya in writing his autobiography – AGAINST ALL ODDS. There are many other books in the works under his pen.

See author's posts