President Bola Tinubu has appointed Jim Ovia, CFR, the Founder and Chairman of Zenith Bank Plc, as the Chairman of the Board of the Nigerian Education Loan Fund (NELFUND).
The announcement came through a State House Press Release by Chief Ajuri Ngelale, the Special Adviser to the President on Media and Publicity, on April 26, 2024.
In the statement, it was highlighted that President Tinubu believes Mr. Jim Ovia‘s extensive experience and professional standing will greatly contribute to advancing the vital vision of ensuring that no Nigerian student faces obstacles in pursuing higher education due to financial constraints. Additionally, it aims to ensure that Nigerian youths, regardless of background, have access to higher education and skills necessary to become productive members of society and active contributors to the knowledge-based global economy.
Jim Ovia, CFR, is renowned as the Founder and Chairman of Zenith Bank Plc, one of Africa’s leading banks with assets exceeding $21.4 billion and shareholders’ funds of over US$2.4 billion as of December 2023. Zenith Bank is a globally recognized brand listed on both the London Stock Exchange and the Nigerian Stock Exchange, with significant operations in Nigeria, other West African countries, London, and Dubai.
Beyond his role in banking, Jim Ovia serves as the Founder and Chancellor of James Hope University in Lekki, Lagos, recently approved by the National Universities Commission (NUC) to offer postgraduate degrees in business courses, beginning operations in September 2023.
Through his philanthropic endeavors via the Jim Ovia Foundation, he has demonstrated a strong commitment to education, offering scholarships to underprivileged students through the Mankind United to Support Total Education (MUSTE) initiative. Many beneficiaries of these scholarships have gone on to pursue careers as accountants, business administrators, lawyers, engineers, doctors, and more.
Jim Ovia is also an author, with his book “Africa Rise and Shine” published by ForbesBooks, which chronicles Zenith Bank’s remarkable journey and unveils the secrets of doing business in Africa. He holds degrees from prestigious institutions such as Harvard Business School, University of Louisiana, and Southern University, Louisiana.
In recognition of his outstanding contributions to Nigeria’s economic development, Jim Ovia has received numerous honors, including the Commander of the Federal Republic (CFR) and the National Productivity Order of Merit (NPOM) Award from the Federal Government of Nigeria.
The appointment of Jim Ovia to chair the Nigerian Education Loan Fund reflects the government’s commitment to ensuring sustainable higher education and skill development for Nigerian students and youths, underscoring the importance of having individuals of the highest professional caliber to lead and manage such critical initiatives.
