Mustafa Bello has been appointed Chairman of Zenith Bank Plc, succeeding the bank’s founder, Jim Ovia, who has stepped down after completing his regulatory tenure.

The announcement, made in a corporate filing on May 5, 2026, brings to a close Ovia’s 12-year leadership on the board, in compliance with corporate governance requirements for financial institutions in Nigeria.

Bello, who previously served as a non-executive director, is widely regarded as an experienced administrator with a strong background in engineering, public service, and investment promotion. His past role as Executive Secretary and Chief Executive Officer of the Nigerian Investment Promotion Commission saw him drive initiatives aimed at boosting foreign direct investment into the country.

His appointment is expected to reinforce governance continuity at Zenith Bank while introducing a wider strategic outlook, particularly as the bank intensifies its regional and international expansion.

Analysts note that Bello’s experience in economic planning and international business relations positions him well to support the bank’s ambitions in cross-border trade and financial services across Africa and beyond.

The transition ushers in a new chapter for Zenith Bank, with stakeholders expressing confidence that the new chairman will build on the solid foundation established by Jim Ovia and sustain the institution’s growth momentum.