Zenith Bank Plc has announced the retirement of its founder and Group Chairman, Jim Ovia, following the completion of his tenure.
In a statement released on Tuesday, the bank confirmed that Ovia stepped down after fulfilling the mandatory 12-year term as a non-executive director and chairman, in compliance with the corporate governance guidelines set by the Central Bank of Nigeria (CBN).
The policy, which limits the tenure of non-executive directors, is designed to encourage board renewal and strengthen governance standards across Nigeria’s banking sector.
Ovia, who founded Zenith Bank in 1990, has been instrumental in building the institution into one of the country’s leading financial services providers.
More details are expected to follow.
