About four years after he was forced out by the Central Bank of Nigeria’s policy that limited the tenure of bank chief executives to 10 years, Jim Ovia, founding Group Chief Executive Officer, Zenith Bank Plc, has return to the bank but this time, as board chairman and non- executive director.
According to the statement by the bank’s group Managing Director, Peter Amangbo, said that Ovia takes over from Steve Omojafor who resigned last month, adding that the appointment had been approved by the Central Bank of Nigeria (CBN) and would take effect on July 16, 2014.
Ovia retired from the bank about four years ago following the CBN policy which limited the tenor of banks chief executive officers to a maximum of 10 years.
With the new appointment, Ovia now becomes the second former CEO retired by CBN policy to assume the chairmanship of a bank, following the footsteps of Akinsola Akinfemiwa, former Managing Director of Skye Bank Plc, who is the current chairman of Heritage Bank Plc.
Zenith Bank also appointed Olusola Oladipo as an Executive Director. Oladipo, who joined the services of the bank in 1995, had previously worked in First City Monument Bank (FCMB) and Prime Merchant Bank Ltd.
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