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Jim Ovia is the Founder and Pioneer Group MD of Zenith Bank, He is an Author, Speaker and Business Growth Coach from Agbor, Delta State Nigeria.
He founded Zenith Bank in 1990 with a Share Capital of N20m ($4m) at the time, at the Time there were 2 Categories of Banking Licenses, the Merchant Banking License($1.6m) & Commercial Banking License($4m).
He Started out Working with Union Bank (Formerly Barclay’s Bank) as an Office Clerk.
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He worked there for 3 years before going to the USA for Studies.
He has a Bsc in Business Administration from Southern University, Louisiana & an Msc in Business Admiration from University of Louisiana.
After Studies in USA he returned to Nigeria, Working with Union Bank, IMB & Lion Bank, rising through the ranks from Financial Analyst to Bank Manager.
THE TURNING POINT.
After the Takeover of Power by Gen. Ibrahim Babangida, his administration deregulated the Banking Sector,
the deregulation made it Possible for competent nigerians to own banks,
Not just foreigners, federal and state governments.
The Prerequisites were ;
Having a C.E.O with 10 years banking experience, having Required capital base, an office, logo and corporate governance structure.
He got tunding via loans for the licensing and commenced business.
The bank couldn’t afford a proper office in the upmarket Victoria Island,
So they started in a residential building Shared with a Family, using two rooms downstairs as Teller Points & Offices,
While the Garage as Customer Care Unit & Banking Hall.
After One year the owners of the building left and the bank bought it,
making the first branch of Zenith Bank on Ajose Adeogun Street, Victoria Island.
Zenith Bank now has 550 Branches in Nigeria, employing 7000 people and in Operation in UK, UAE, China, South Africa, Gambia, Seirra Leone & Ghana.
In 1995 Zenith Bank became the First Nigerian Company to own a Website,
that was the beginning of their diversification from Analog to Digital Services.
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Zenith Bank Holds the No. 386 Spot of 1000 Banks on the 2020 Global Bank Ranking & the Number One “Tier 1 Capital” Bank in Nigeria.
“Tier 1 Capital” is a measure of a bank’s financial strength from a regulator’s point of view.
Zenith Bank has Total Assets Valued at $16.1B, with $854m as Annual Revenue(2019)
In 2007 Zenith Bank became the First Nigerian Bank to be Licensed by UK Financial Services Authority In 25 years,
That Birthed the Zenith Bank UK.
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He Retired as the C.E.O in 2010 & Setup the Quantum Group. The Quantum Group has Interests in Oil, Insurance, Telecoms, Construction, Real Estate, Hospitality & Maritime Services.
He became the Bank’s Chairman in 2014.
He Owned Visafone with 3 Million Subscribers which was Sold to MTN for an undisclosed price.
He Owns the Aqua Maritime Boat &
Yacht Club, Lagos Marriott Hotel,
Civic Centre & Civic Towers on Ozumba Mbadiwe Avenue Victoria Island.
DON’T GIVE UP,
EVERYTHING IS POSSIBLE.
By Dan Madu
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