BREAKING: Jim Ovia retires as Zenith Bank chairman
Zenith Bank Plc has announced the retirement of its founder and Group Chairman, Jim Ovia, following the expiration of his tenure on the bank’s board. The bank said his exit is in line with corporate governance rules that limit how long non executive directors and chairmen can serve in Nigerian financial institutions. In a notice issued in Lagos and confirmed at the bank’s 35th Annual General Meeting, Zenith Bank explained that Ovia has completed the mandatory 12 year tenure allowed for non executive directors and chairmen under Central Bank of Nigeria guidelines. These rules are part of wider efforts to promote board renewal, accountability and stronger governance across the banking sector. Ovia, who founded Zenith Bank in 1990, has been central to its growth into one of Nigeria’s largest and most profitable financial institutions. Under his leadership, the bank expanded […]