Hot Source* Lauds founder, Jim Ovia, for weaving technology into Nigerian, global finance DNA
* Attends bank’s 35th anniversary in Lagos
Deji Elumoye in Abuja
Vice-President Kashim Shettima at the weekend praised one of Nigeria’s largest financial institutions, Zenith Bank, for instilling a culture of innovation and inbred integrity into Nigeria’s financial standards.
According to him, beyond performing excellently in guarding Nigeria’s wealth, Zenith has also nurtured the nation’s dreams, sealing the bank’s status as Nigeria’s largest bank by Tier-One capital.
Speaking in Lagos during the 35th Anniversary of Zenith Bank, Shettima observed that from July 1990, when the bank was born in Nigeria’s banking sector, it was quite glaring that “a motion was set in place for a revolution in the nation’s corporate culture”.
The great strides the bank has made, he noted, are the cumulative effects of what has earned it the prize as the nation’s number one bank, a position it has retained for 16 consecutive years, “making it a benchmark in the annals of African enterprise”.
Extolling the bank’s innovation and integrity, the vice-president said: “And so, as we gathered to celebrate Zenith Bank at thirty-five, we are honouring a culture—a culture where innovation is instinct, where integrity is non-negotiable, and where service to humanity is as important as service to shareholders.
“On behalf of the Government and people of the Federal Republic of Nigeria, I salute Zenith Bank, I honour Mr. Jim Ovia, and I commend Dame Adaora Umeoji. May the next thirty-five years find you still breaking barriers, still setting standards, and still proving that in Nigeria, greatness is not an exception—it is an expectation.”
The vice-president, who noted that he was also attending Zenith Bank’s 35th anniversary as “a proud alumnus” of the bank, said while some financial institutions exist mainly to expand their profit margins year after year, there are other banks that write history.
According to him, “I know the difference because I was bred in this system, and I know that Zenith Bank belongs to a class of its own. It is a family that has stood together. A family that thinks together. A family that builds together. A family that grows together. A family that celebrates each other’s victories and endures each other’s trials.
“A family bound not solely by contracts and capital, but by the foresight that tomorrow arrives heavy with promise. For thirty-five years, this bank has opened more branches across the world; it has opened possibilities.”
Shettima hailed the Chairman/Founder of Zenith Bank, Chief Ovia, describing him as a “master of foresight, the architect of dreams, the conjurer of possibilities, the alchemist who turns vision into gold—a magician whose wand is wisdom, whose stage is the future, and whose art is the transformation of an industry”.
The vice-president said Ovia’s genius has never been in doubt, having had the privilege of working under his watch during the period he worked as a banker.
Said he: “He (Chief Ovia) saw the future of banking when most of us were still grappling with its present. Long before technology became the bloodstream of global finance, Jim Ovia had already woven it into the DNA of Nigerian banking.
“He introduced innovation not as a fashion but as a philosophy, placing Zenith Bank on a path where excellence is not an ambition but a standard. Yet his true signature is not only on the balance sheet. For Mr. Jim Ovia, the people make an institution.”
Shettima also praised Zenith Bank’s culture of continuity, which eventually placed the leadership mantle on its first female Group Managing Director/CEO, Dr. Adaora Umeoji, saying the bank’s story is a relay of “baton passed with trust and received with grace”.
“Today, that baton rests in the capable hands of Dame (Dr.) Adaora Umeoji, the first woman to lead this bank in its distinguished history. Her journey demonstrates the succession planning that characterises Jim Ovia’s school of leadership, of which I am proud to be an alumnus.
“Dame Adaora rose through the ranks with almost three decades of service. She has taken the Zenith Bank ethos and dressed it in the elegance of a new generation—blending strategic vision with the soft power of empathy,” the vice-president further said.
On his part, the Founder of Zenith Bank, Ovia, appreciated Vice-President Shettima for his show of support and for personally attending the event.
He also thanked the customers of the bank for trusting Zenith Bank with their funds, even as he assured them of more effective services by the management and staff of the bank.
Earlier, the Group Managing Director/CEO of the bank, Umeoji, said the bank has made its mark in the banking sector in Nigeria and around the world, noting that the bank currently boasts of a market capitalisation of N3 trillion, putting it above many other banks in the country.
Her words: “In just 35 years, Zenith Bank has grown from humble beginnings in a converted residential building to become a shining example of excellence in the Nigerian banking industry and a globally recognised financial institution.
“Zenith Bank is the most profitable bank in Nigeria, setting the standard for financial performance. Our tier-1 capital has remained the largest in the Nigerian banking industry for 16 consecutive years, demonstrating our unwavering financial strength and stability.
“We have a shareholders’ fund of N4.44 trillion, the highest in the Nigerian banking industry, reflecting investor trust and confidence. Our market capitalisation stands at three trillion naira, one of the largest in the Nigerian banking industry, showcasing our market leadership.”
She applauded the Founder and Chairman of Zenith Bank, Ovia, for establishing and leading the bank to greater heights, assuring the audience that the dream of the founder shall not die.
“Through sheer tenacity, foresight and uncompromising integrity, he transformed a modest vision into the financial powerhouse we celebrate today,” Umeoji stated.
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