Jim Ovia’s stake in Zenith Bank rebounds above $150 million

Key Points

• Jim Ovia’s stake in Zenith Bank has gained $11.9 million over the past 14 days, surpassing $150 million in value as Zenith Bank shares climbed.
• Zenith Bank’s stock has risen by 8.52%, from N44.00 to N47.75 since mid-April, boosting its market capitalization to nearly $940 million.
• While the NGX has faced fluctuations, Zenith Bank has posted a 4.95% year-to-date gain. A $100,000 investment at the start of 2025 would now be worth $104,950.

Jim Ovia, Nigeria’s richest banker and a prominent force in the country’s financial industry, has seen a significant boost in the market value of his stake in Zenith Bank, fueled by a recent rally in the bank’s share price on the Nigerian Exchange (NGX). 

Jim Ovia’s wealth surges on Zenith Bank rally

As the founder and chairman of Zenith Bank, Ovia holds a 16.2-percent stake—amounting to 5,082,800,739 shares. Over the past 14 days, this stake has risen by N19.06 billion ($12 million), pushing it past the $150 million mark amid renewed investor confidence in the bank’s financial performance. 

This latest gain follows an earlier $10.26 million increase recorded between March 21 and 26, when the value of Ovia’s stake climbed from N231.78 billion ($150.96 million) to N247.53 billion ($161.22 million), reflecting growing optimism surrounding Zenith Bank’s outlook.

Zenith Bank delivers strong short-term gains

Ovia founded Zenith Bank in 1990 and steadily built it into one of Africa’s most successful financial institutions. Licensed by the Central Bank of Nigeria (CBN), Zenith has grown into a major player in West Africa’s banking sector and today stands among the largest publicly traded banks on the NGX.

In the past two weeks, Zenith Bank’s share price has been on a steady climb, rising 8.52 percent from N44 ($0.027) on April 16 to N47.75 ($0.03). The rally has lifted the bank’s market value closer to $940 million, rewarding shareholders — especially Ovia, who remains the bank’s largest individual investor.

Thanks to the recent gains, the value of Ovia’s stake has jumped by N19.06 billion ($12 million), moving from N223.64 billion ($139.59 million) to N242.70 billion ($151.48 million) in just under a fortnight. It’s a clear sign that investor confidence in Zenith Bank is picking up once again.

A modest year-to-date gain

Zenith Bank’s shares have weathered the ups and downs of the NGX so far in 2025, posting a modest gain of 4.95 percent. For investors, that means a $100,000 investment at the start of the year would now be worth about $104,950—a $4,950 increase that shows the bank’s ability to hold steady even as the broader market remains unsettled.