Nigeria's Zenith Bank appoints Jim Ovia board chairman in new change

Jim Ovia

Nigeria's Zenith Bank has appointed Jim Ovia, its elsewhere chief Executive as new board chairman, taking over from Steve Omojafor who resigned last June.
The appointment which took immediate effect has been approved by the central bank, whose governor was the immediate chief executive of the bank.
Ovia retired from the bank about three year ago in line with the CBN policy which limit the tenor of banks chief executive to maximum of 10 years.
Godwin Emefiele, the new central bank governor was appointed from Zenith Bank in February by President Goodluck Jonathan, but he resumed at the apex bank in June after the tenor of the suspended governor of the bank, lamido sanusi expired.
Sanusi was suspended by Jonathan on allegation of financial recklessness, but many observes believed he was removed by the president because he blew the whistle on the missing $20 billion oil money from the state-owned energy company NNPC.