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By Lawrence Agbo
Jim Ovia, the founder and group chairman of Zenith Bank Plc, has retired from the bank’s board after his tenure lapsed.
The retirement was announced on Tuesday at Zenith Bank’s 35th Annual General Meeting.
Ovia’s exit aligns with the Central Bank of Nigeria’s corporate governance rules, which cap the tenure of non-executive directors and chairmen at 12 years.
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Ovia first assumed the chairmanship on July 16, 2014, having previously pioneered the bank as its founding Group Managing Director/CEO from 1990 until 2010.
Under Ovia’s leadership, Zenith Bank grew from inception to become one of Africa’s leading financial institutions.
Further details are expected.
