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Zenith Bank's Board Accuses Jim Ovia Of Nepotism, Demand His Total Hands-off

Jim James Ovia, founder of Zenith Bank has been accused of handpicking the managing director of the bank since he was forced out as the bank Managing Director by the Centra Bank of Nigeria (CBN) since 2019.
Zenith bank founder, Jim Ovia and Ebenezar Onyeagwu
E-Nigeria reported that even as Zenith Bank continues to reel out and declare unverified profit margins, that the bank’s Chairman, Jim Ovia ’s repeated acts of nepotism is tearing the bank board of directors apart.

Recently, Zenith Bank Plc announced the emergence of Ebenezer Onyeagwu as the bank’s new Managing Director and Chief Executive Officer.

It was learned from top inside sources at the bank that Ovia’s first attempt at hand-picking Onyeagwu was met with heavy resistance from top directors of Zenith Bank who lamented seriously how uneven previous appointments of the bank MDs/CEOs had been, since after the Central Bank of Nigeria – CBN’s necessitated ousting of Ovia from the position in July 2010.

Recall that since Zenith Bank opened for business years ago, Ovia was the pioneer MD/CEO of the bank and for 20 years he occupied the position until 2010 when the CBN ousted all bank MDs whose positions had lasted from 10 years and above.

Ovia, who hails from Agbor in Delta State, then perfected plans to hand over to another loyalist of his in the bank, who is also from Agbor and the move ushered in Godwin Emefiele, who subsequently left for his CBN governorship appointment.

Prior to the announcement of Emefiele’s exit, www.e-nigeriang.com was reliably hinted that another loyalist from Jim Ovia’s hometown of Agbor was also arranged to take over the lofty position and that birthed the emergence of Peter Amangbo.

While Amangbo’s tenure winds up at the end of May, 2019, yet again, Jim Ovia prepared a smooth take-over by another of his ‘boy’ from his home town, Ebenezar Onyeagwu, whose name had since been sent to the Nigerian Stock Exchange for approval as the bank’s new MD/CEO, against the position of top directors of the bank, who are already feeling insulted and trampled upon.

Already, as at the time of filing this report, e-NIGERIA! learned that some aggrieved directors of Zenith Bank are re-grouping and if they can form a quorum, they may soon move for the removal of Ovia as Chairman.

Meanwhile, when www.e-nigeriang.com reached out to Zenith Bank’s Corporate Communications handlers, Tunji Adeniyi, Tolani and Tunji Shittu, they were all silent on the matter and did not respond to text messages we sent to them on Friday, May 3, 2019 and Monday, May 6, 2019 till now.

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