Jim Ovia, founder of Zenith Bank, has retired as Chairman of the bank.
Ovia’s retirement was announced during the bank’s 35th Annual General Meeting, on Tuesday.
In a statement, the bank said Ovia stepped down after completing the mandatory 12-year service period as a non-executive director and chairman, in line with corporate governance guidelines set by the Central Bank of Nigeria (CBN).
The bank noted that his retirement complies with regulatory requirements governing tenure limits for board members in financial institutions.
Ovia, who served as the bank’s Group Managing Director/CEO from 1990 to 2010, became the bank’s chairman on July 16, 2014.
Former CBN Governor Godwin Emefiele succeeded Ovia as Zenith Bank CEO.
It was while acting as the bank’s CEO that former President Goodluck Jonathan appointed him CBN governor, a position he retained through out the eight years of late President Muhammadu Buhari.
