Zenith Bank Plc has announced the retirement of its founder and Group Chairman, Jim Ovia, following the expiration of his tenure.
In a statement issued on Tuesday, the bank said Ovia stepped down after completing the mandatory 12-year tenure as a non-executive director and chairman, in line with the Central Bank of Nigeria’s (CBN) corporate governance guidelines.
The policy limits the tenure of non-executive directors in financial institutions to promote board renewal and strengthen governance standards within the banking sector.
Ovia, who founded Zenith Bank in 1990, has played a central role in the institution’s growth into one of Nigeria’s leading financial services providers.
