Table of Contents
Key Points
- Jim Ovia’s Zenith Bank stake surged $38.8 million in nine days, driven by a 25.62% rally in the bank’s share price on the NGX.
- Ovia’s 16.2% stake now exceeds $190 million, reinforcing his position as Nigeria’s richest banker and a titan in Africa’s financial sector.
- Year-to-date, Zenith Bank stock is up 27.14%, outperforming many emerging-market benchmarks and strengthening Ovia’s position in West Africa’s financial sector.
Jim Ovia, Nigeria’s richest banker and a leading figure in the country’s financial sector, has recently seen the value of his stake in Zenith Bank increase by $38.8 million. This gain comes as the bank’s shares have risen steadily on the Nigerian Exchange (NGX), reflecting growing investor confidence in Zenith Bank’s performance.
Jim Ovia adds $38.8 million to holdings
Ovia, who founded Zenith Bank and now serves as its chairman, owns 5.08 billion shares, equivalent to a 16.2-percent stake in the bank. Over the past nine trading days, the market value of his holdings has climbed by nearly N60 billion ($38.8 million), a clear sign of growing investor confidence in the bank’s performance and future prospects.
Just weeks earlier, between May 5 and May 19, Ovia’s stake had already gained $4.62 million in value, rising from N238.64 billion ($149.43 million) to N246 billion ($154.05 million). The steady gains reflect a broader sense of optimism among shareholders, who continue to see Zenith as one of Africa’s most reliable and resilient financial institutions.
Zenith Bank shares climb 25.62% in 9 days
Jim Ovia, a prominent figure in Nigeria’s financial landscape, founded Zenith Bank in 1990 and steadily built it into one of the most successful banks in Africa. With a license from the Central Bank of Nigeria, Zenith has become a cornerstone of West Africa’s banking sector and remains one of the largest companies listed on the NGX.
In the past nine days, the bank’s stock has gained 25.62 percent, climbing from N46.05 ($0.0298) on June 17 to N57.85($0.0374). This surge has lifted Zenith Bank’s market value to nearly $1.5 billion, delivering strong returns for shareholders—including Ovia.
The rally has significantly boosted Ovia’s holdings. His 25.62-percent stake, previously valued at N234.06 billion ($151.42 million), has jumped to N294.04 billion ($190.22 million) in just nine days—an increase of N59.98 billion ($38.80 million). With investor confidence growing, Ovia’s influence in Nigeria’s banking industry remains as strong as ever.
Your money and your life
Year-to-date, Zenith Bank shares have gained 27.14 percent on the NGX. For perspective, a $100,000 investment at the beginning of the year would now be worth $127,140, offering investors a return that outpaces many regional and global benchmarks.
As foreign and domestic investors search for stability and growth in emerging markets, Zenith Bank’s performance on the NGX positions it as a key player in Sub-Saharan Africa’s financial resurgence, with Ovia at the helm of its value creation story.
