President Bola Tinubu has approved the appointment of the Founder and Chairman of
Zenith Bank Plc, Jim Ovia, CFR, as the Chairman of the Board of the Nigerian Education
Loan Fund (NELFUND). This was announced in a State House Press Release by the
Special Adviser to the President on Media and Publicity, Chief Ajuri Ngelale on April 26,
2024.
According to the statement, ‘‘the President believes Mr. Ovia will bring his immense
wealth of experience and professional stature to this role to advance the all-important
vision of ensuring that no Nigerian student suffers a capricious end to their pursuit of
higher education over a lack of funds and of ensuring that Nigerian youths, irrespective
of who they are, have access to higher education and skills that will make them
productive members of society and core contributors to the knowledge-based global
economy of this century.’’
Jim Ovia, CFR, is the Founder and Chairman of Zenith Bank Plc, one of Africa’s largest
banks with over $21.4 billion in assets and shareholders’ funds of over US$2.4 billion as
at December 2023. Zenith Bank is a global brand listed on the London Stock Exchange
and the Nigerian Stock Exchange. In addition to major operations in Nigeria and other
West African countries, the Bank has sizeable operations in London and Dubai.
Jim Ovia is the Founder and Chancellor of James Hope University, Lekki, Lagos which
was recently approved by the National Universities Commission (NUC) to offer
postgraduate degrees in business courses. James Hope University commenced
activities in September 2023.
Through his philanthropy – the Jim Ovia Foundation – he has shown the importance he
accords good education. In support of the Nigerian youth, Jim Ovia Foundation offers
scholarships to indigent students through the Mankind United to Support Total Education
(MUSTE) initiative. Most of the beneficiaries of Jim Ovia Foundation scholarship are now
accountants, business administrators, lawyers, engineers, doctors etc.
He is the author of “Africa Rise and Shine”, published by ForbesBooks. The book which
encapsulates Zenith Bank’s meteoric rise, details the secrets of success in doing
business in Africa. He is an alumnus of the Harvard Business School (OPM), University
of Louisiana (MBA), and Southern University, Louisiana, (B.Sc. Business
Administration). Jim Ovia is a member of the World Economic Forum (WEF) Community
of Chairpersons, and a champion of the Forum’s EDISON Alliance.
In recognition of Jim Ovia’s contributions to the economic development of Nigeria, in
2022, the Federal Government of Nigeria honoured him with Commander of the Federal
Republic, CFR. Also, in May 2022, Jim Ovia was conferred with the National Productivity
Order of Merit (NPOM) Award by the Federal Government of Nigeria. Earlier, he has
been conferred with the national awards of Member of the Order of the Federal Republic,
MFR, and Commander of the Order of the Niger, CON, in 2000 and 2011, respectively,
as a testament to his visionary leadership and contributions to Nigeria’s financial
services sector.
The National Student Loan Programme is a pivotal intervention that seeks to guarantee
sustainable higher education and functional skill development for all Nigerian students
and youths.The Nigerian Education Loan Fund, the implementing institution of this
innovation, demands excellence and Nigerians of the finest professional ilk to guide and
manage.2/
