Jim Ovia is the founder and chairman of Zenith Bank Plc, Nigeria’s most profitable bank and one of the largest financial institutions in West Africa.
He is also one of the richest men in Africa, rubbing shoulders with the likes of Aliko Dangote, Johann Rupert of South Africa, and Nassef Sawiris of Egypt.
In this article, WOA takes a look at Jim Ovia’s journey to success, net worth, family, and scandals.
Jim Ovia’s Net Worth and Property owned
In 2018, Forbes estimated Jim Ovia’s net worth to be $825 million.
Given the continued profitability and growth of his investments, it stands to reason that the banker’s current net worth has risen to over $1 billion.
He reportedly owns a 16.17% stake in Zenith Bank, valued at over $230 million, which makes him one of the company’s biggest shareholders.
Aside from Zenith Bank, Jim Ovia owns the following companies:
- Cyberspace Network
- Visafone Communications
- Quantum Luxury Properties
- Quantum Markets
- The Civic Center Towers
- Youth Empowerment/OVT Foundation
- The Lagos Marriott Hotel
- The Aquamarine Boat Club
Jim Ovia’s Journey to Success
Jim Ovia was born on the 4th of November, 1951 in in Agbor, Delta State, Nigeria.
Olivia’s banking career, which spans over three decades, began at 18 as a clerk at Barclays Bank in Lagos.
Feeling the need to pursue greater interests, he enrolled for a business administration course at Southern University Louisiana in the USA and later enrolled for an MBA at the University of Louisiana, Monroe.
After graduating, he got a job at the Merchant Bank of Africa, where he worked for three years before applying for his banking license, which marked the genesis of Zenith Bank.
In 1990, he partnered with some investors and opened the bank’s first branch at Ajose Adeogun Street, Victoria Island, Lagos
Today, aside from being the biggest bank in Nigeria, the bank is listed on the London Stock Exchange and has branches in the UK, China, UOE, Ghana, and Gambia, among other countries, and an asset base exceeding $17.7 billion.
One of his key beliefs is the importance of trusting one’s instincts when making decisions and evaluating new business opportunities.
Jin Ovia’s Wife and children
Jim Ovia has been blessed with 5 children: Zephia, Tomi, Jesse, Isioma, and Tito.
His wife, Kay Ovia, is the CEO of Quantum Markets Ltd.
Jim Ovia’s Scandals
Despite his glowing reputation, Jim Olivia has had his fair share of scandals.
In June 2024, Ovia was accused by businessman Femi Otedola of a multi-billion-naira fraud, with Ovia allegedly using one of Otedola’s companies, Seaforce Shipping Limited’s Zenith Bank account for illegal trading activities.
Earlier, in 2019, Ovia faced online backlash for allegedly failing to raise his voice at the then ongoing World Economic Forum Meeting – where he was a key speaker – to respond to xenophobic attacks on Nigerians and other Africans in Johannesburg.
The resulting public uproar forced the withdrawal of Zenith Bank from the forum as Mr. Ovia called for better government reforms to curb xenophobic attacks.
However, despite these setbacks, the banker’s prowess and business acumen are evident, earning him the moniker ‘Godfather of banking in Nigeria’ by Forbes Africa.
