Zenith Bank Rally Lifts Founder Jim Ovia’s Stake By $13 Million
✍️ By Teju/ December 24, 2025/ 2:52pm
Shares of Zenith Bank Plc have recently climbed on the Nigerian Exchange, resulting in a significant increase in the market value of holdings owned by the bank’s founder and chairman, Jim Ovia. According to market reports, a renewed rally in Zenith Bank’s stock over the past month has increased the value of Ovia’s stake by about $13.23 million (approximately ₦19.31 billion), reinforcing investor confidence in the bank and in Nigerian banking equities overall.
The share price gain saw Zenith Bank’s stock rise from around ₦59.90 to ₦63.30 between November and December, bolstering the institution’s market capitalisation to roughly $1.8 billion. This performance reflects growing optimism among investors toward financial stocks, driven by expectations of sustained earnings, higher capital buffers, and reforms in interest rates and foreign exchange policies.
Jim Ovia, who founded Zenith Bank in 1990 and has steered its growth over more than three decades, now holds more than 5 billion shares, representing about 16.2% of the bank’s total issued stock. The recent appreciation has added notable wealth to his portfolio, reaffirming his position as one of Nigeria’s most prominent banking leaders.
Analysts say the stock rally underscores confidence in Zenith Bank’s strategic direction, resilience in earnings performance, and stable fundamentals, even as the broader economy navigates challenges like inflationary pressures and liquidity fluctuations. Investors are watching closely to see if this momentum continues into the new year.
As the year draws to a close, Zenith Bank’s share performance serves as a reminder of the enduring appeal of Nigeria’s financial sector for both domestic and international investors.
Source: The Nigerian Inquirer
