Zenith Bank Plc has appointed Engr. Mustafa Bello as its new chairman, following the retirement of its founder, Jim Ovia, after the completion of his tenure in line with regulatory requirements.
Bello’s appointment signals a leadership transition at the bank after decades under Ovia, who stepped down after reaching the 12-year limit for chairmen stipulated by the Central Bank of Nigeria’s corporate governance guidelines.
Before his elevation, Bello had been a non-executive director on the bank’s board since December 2017, making him one of its longest-serving members. His appointment is seen as part of efforts to maintain continuity and stability in the institution’s leadership.
Bello began his professional career with the Nigerian Army’s Directorate of Quartering and Engineering Services between 1978 and 1979. He later worked as a senior civil engineer at the Niger State Housing Corporation from 1980 to 1983.
He rose to national prominence during the administration of former President Olusegun Obasanjo, serving as Minister of Commerce from 1999 to 2002. During that period, he was involved in shaping trade and economic policies.
Following his time in government, Bello contested the 2003 governorship election in Niger State under the People’s Redemption Party (PRP), finishing as runner-up.
He later served as Executive Secretary and Chief Executive Officer of the Nigerian Investment Promotion Commission (NIPC) from 2003 to 2014, where he played a role in promoting foreign direct investment and facilitating partnerships with international investors across key sectors of the economy.
Bello is currently the chairman of Invest-in-Northern Nigeria Limited, an initiative focused on economic development in the northern region.
Born on January 31, 1954, he holds a Bachelor of Engineering degree in Civil Engineering from Ahmadu Bello University, Zaria, where he graduated with a Second Class Upper Division and won the Shell Prize for the best engineering project in 1978.
Over the years, he has participated in several international conferences and trade missions, representing Nigeria in global economic engagements. His professional contributions also include involvement in national initiatives such as the digitisation of the Corporate Affairs Commission and trade policy development.
