Nigerian banker and entrepreneur Jim Ovia has recorded a fresh boost to his personal fortune as the market value of his stake in Zenith Bank Plc climbed above $220 million, following a sustained rally in the lender’s shares. The recent upswing added about $13.2 million to the value of Ovia’s holding, reflecting renewed investor confidence in Nigeria’s banking sector amid improving earnings and policy tailwinds.
Ovia, who founded Zenith Bank in 1990 and remains its chairman, owns 5.08 billion shares in the lender, representing a 16.2 percent stake. Over the past 33 days, the value of this holding rose by N19.31 billion, underscoring how closely his net worth tracks the bank’s performance on the Nigerian Exchange. The gains have come as investors reposition around tier-one banks expected to benefit from higher interest rates, foreign exchange reforms and stronger capital buffers.
From modest beginnings more than three decades ago, Zenith Bank has grown into Nigeria’s most profitable lender and one of Africa’s most respected financial institutions. After securing a banking license from the Central Bank of Nigeria in a relatively underdeveloped market, Ovia built the institution through a focus on conservative risk management, disciplined lending and consistent profitability. Today, Zenith operates across West Africa and maintains a presence in the United Kingdom, reinforcing its status as a regional banking powerhouse.
The latest rally has seen Zenith Bank shares rise 6.39 percent in just over a month, climbing from N59.9 in mid-November to about N63.3. This has lifted the bank’s market capitalization to roughly $1.8 billion, keeping it among the most valuable companies listed on the NGX. Over the course of 2025, the stock has gained about 49.5 percent, outperforming several local peers and many emerging-market equities.
For long-term shareholders like Ovia, the rally highlights the rewards of patient capital in Africa’s banking sector, where consistent execution and prudent management continue to drive value. An investor who bought Zenith Bank shares at the start of the year would now be sitting on nearly 50 percent gains, a performance that reflects both improving macroeconomic sentiment and confidence in the lender’s fundamentals.
As Nigeria’s banking industry navigates reform-driven change, Zenith Bank’s strong showing has reinforced its appeal to investors, while further cementing Jim Ovia’s position as one of the country’s most successful and enduring financial entrepreneurs.
