BREAKING: Jim Ovia retires as Zenith Bank chairman

Following the completion of his tenure, he has stepped down from office.

The announcement was made on Tuesday during the bank’s 35th Annual General Meeting, which is currently ongoing.

The bank explained that Ovia’s exit follows the completion of the mandatory 12-year tenure for non-executive directors and chairmen, in line with the Central Bank of Nigeria’s corporate governance rules.

He assumed the role of chairman on July 16, 2014, returning to the position after earlier serving as the bank’s founder and Group Managing Director/Chief Executive Officer between 1990 and 2010.

Details later…