Nigeria's richest banker, Jim Ovia, gains $17 million in a single week from Zenith Bank

Jim Ovia, Nigeria’s wealthiest banker, has witnessed a remarkable increase in his net worth within just one week. This surge is attributed to the sharp upswing in the shares of Zenith Bank, Nigeria’s premier banking group renowned for its profitability and market dominance.

According to data tracked by Billionaires.Africa, Ovia, renowned among Nigeria’s richest businessmen, has witnessed the market value of his stake in Zenith Bank soar by more than $17 million in a mere one week.

Zenith Bank, licensed as a commercial bank by the Central Bank of Nigeria, not only stands out as a leading financial services provider in Nigeria and anglophone West Africa but also holds the title of Nigeria’s most profitable bank. It proudly claims its position as the largest listed financial services group on the Nigerian Exchange.

Ovia, a key figure in the evolution and digital transformation of Nigeria’s banking industry, founded Zenith Bank in 1990, his 16.2-percent stake in the financial services group, comprising 5,072,104,311 ordinary shares makes him the richest banker in the country,

In recent times, the recent increase in Zenith Bank’s share price on the Nigerian Exchange, from N34.40($0.0456) on Sept. 1 to N37.00 ($0.0490) at the time of writing, representing a gain of more than 7.5 percent has returned impressive gains to shareholders, including Ovia, who owns a significant stake in the Lagos-based lender.

With the recent surge in Zenith Bank’s shares the market value of Ovia’s stake has increased by N13.19 billion ($17.48) in the past one week, propelling the market value of his stake from N174.48 billion ($231.28 million) on Sept. 1 to N187.67 billion ($248.76 million).

This remarkable increase cements Ovia’s position as Nigeria’s richest banker, underscoring his prowess as one of the nation’s most successful businessmen. His journey from founding Zenith Bank to achieving impressive success in the financial world stands as a testament to his enduring influence and impact on Nigeria’s banking landscape.