Founder and Group Chairman of Zenith Bank Plc, Jim Ovia, has retired following the expiration of his tenure in line with regulatory requirements.

The bank announced the retirement in a corporate notice issued in Lagos on May 5, 2026.

According to the notice, 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.

The bank said that as its founder, Ovia 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.

It noted that his commitment to governance standards and stakeholder value creation significantly enhanced the Group’s positioning and reputation in the financial services sector.