Founder and Group Chairman of Zenith Bank, Jim Ovia, has officially retired after completing his tenure in line with regulatory guidelines.

The bank confirmed his exit in a corporate notice released in Lagos on May 5, 2026, stating that Ovia had reached the maximum 12-year tenure allowed under corporate governance rules for financial holding companies, non-interest banks, and payment service banks in Nigeria.

According to the statement, Ovia played a pivotal role in shaping the bank’s growth and success. The Board commended his leadership, noting that his strategic vision, strong oversight, and commitment to high governance standards greatly strengthened the institution’s reputation and standing within the financial services industry.