SUCCESS SECRETS & STORIES OF JIM OVIA, FOUNDER OF ZENITH BANK PLC NIGERIA

SUCCESS SECRETS & STORIES OF JIM OVIA, FOUNDER OF ZENITH BANK PLC NIGERIA

The reclusive godfather of Nigerian banking Jim Ovia was born on November 4, 1951 in Agbor, Ika South Local Government Area of Delta State. He was educated at Southern University Louisiana, where he obtained a B.Sc in Business Administration in 1977,  North East Louisiana University, where he earned a masters degree in Business Administration in 1979, and Harvard Business School (Executive Management Program), all American institutions. He commenced his career in 1973 as a clerk in Barclays Bank, now Union Bank. In 1980 he joined International Merchant Bank (IMB) under the technical agreement of First National Bank of Chicago as a financial analyst and in 1987 climbed  to senior manager position.

He became head of the corporate finance department of Merchant Bank of Africa, under the technical management of Bank of America from 1987 to 1990. He acquired primal  experience in IT in 1977 when he was employed as a part-time computer operator at Baton Rouge Bank and Trust Company, Louisiana. He later moved from employee–manager to owner– manager  co-founding  Zenith Bank, and served as its Group Managing Director and Chief Executive Officer from 1990 to July 10, 2010 within which he transformed the service and product delivery system in the banking industry.

Jim Ovia opened a branch of Zenith Bank in Ghana and another branch in London. The bank is in a strategic partnership with respected US group, J.P. Morgan. This joint venture enhances the development of the  Nigerian financial market and aids the expansion of the stock market. For three consecutive  years under Jim Ovia’s direction the bank secured the Web-Jurist award conducted by the website rating arm of Phillips Consulting. A research published by the Chartered Institute of Bankers of Nigeria, CIIB, in collaboration with Mascot Communications Limited rated Zenith Bank Plc top amongst banks that are socially engaged in the country. It was named Bank of the Year in Nigeria for 2005, by Banker magazine, a subsidiary of the Financial Times of London, nominated the most security friendly and conscious bank in Nigeria for 2005 and rated the fourth biggest bank in Nigeria, by the ranking of the Central Bank of Nigeria (CBN), Zenith Bank with Mr. Ovia’s knowledge of computer technology became the first Nigerian bank   to introduce the online-real time system that enables the networking of entire branches.

 Mr. Ovia is promoter and founder of Visafone Communications Limited and is also a renowned motivational speaker. In April 1999 he was the recipient of the Zik Award for professional leadership and was in November 2000 conferred with the National Award of Member of the Order of the Federal Republic (MFR). Ovia became the Chairman of the Nigeria Software Development Initiative (NSDI), Chairman, National Information Technology Advisory Committee (NITAC), a member of the Governing Council, Nigerian Investment Promotion Council (NIPC) and also a member of the Honorary International Investor Council.

He is the founder and Chairman of Mankind United to Support Total Education (MUSTE), a philanthropic organization geared towards the  provision of scholarship for the less privileged,  some of the beneficiaries of whom are Engineers, Medical Doctors, Lawyers and other professionals.

Jim Ovia Jim Ovia participates in a wide range of charitable and community-oriented organizations aimed mainly at the promotion of the advancement of his nation and its inhabitants in an increasingly globalized environment. He is the founder of the ICT Foundation for Youth Empowerment, with the objective of improving the socio-economic welfare of Nigerian Youths by inspiring and motivating them to engage in information technology. He is also a member of the Governing Council of Lagos State University and a member of the Board of Trustees of the Redeemer’s University for Nations, Lagos. He is the proprietor of University of Information and Communication Technology, Agbor, Delta State. He served on the board of American International School, Lagos (2001 – 2003). and helped advance the continued success and propagation of its educational programs for primary, middle, and high school students of all social classes.

Ovia headed various Non-Governmental Organizations (NGO) at different times and was the first President of the Nigeria Internet Group (2001 – 2003); He received the Business Day’s Award  for the top 10 bankers in Nigeria and was among Vanguard’s 20 most outstanding CEO’s in corporate Nigeria in 2002. Mr. Ovia has written and published works on the promotion and propagation of Information and Communication Technology in Nigeria.  In recognition of his immense accomplishments in the area of education, in October 2005 the Lagos State University bestowed him with an honorary Doctorate of Science in Finance.

 Following CBN guidelines Jim Ovia stepped down from the office of CEO of Zenith Bank after after 20-year stint. He is listed by Forbes Magazine as the third richest Nigerian.