Jim Ovia, Nigeria’s richest banker, earns N10.42bn from Zenith Bank shares in 8 days

Jim Ovia, Nigeria’s banking tycoon and a key person in the country’s banking ecosystem, has seen a massive surge in the market value of his shares in Zenith Bank, Nigeria’s most capitalized bank.

Ovia’s shares in the bank rose by N10.42 billion in the past eight days as investors responded to Zenith Bank’s planned expansion to France and the planned recapitalization of banks by the Central Bank of Nigeria (CBN).

Zenith Bank emerges as one of the most capitalized banks in Nigeria

The Banks’ shares surged 6.14%, with an impressive return on investments for shareholders.

Zenith Bank is ranked Nigeria’s most profitable and prominent financial services provider.

The bank witnessed a surge in the price of its shares on the Nigerian Stock Exchange, rising from N33.15 on November 20 to N35,20 as of November 28, 2023.



Ovia founded Zenith Bank in 1990 and holds a 16.2% stake, comprising 5,072,104,311 ordinary shares, making him Nigeria’s wealthiest banker.

Billionaire Africa reports that the market value of Ovia’s shares has surged by N10.42 billion in the last eight days.

The impressive run of N10.42 billion solidifies Ovia’s position as Nigeria’s most prosperous banker and backs his reputation as one of Nigeria’s most influential businesspeople.

The bank’s decision to operate outside the shores of Africa aligns with other lenders pursuing expansion strategies beyond the continent.