Jim Ovia, Nigeria’s Foremost Banker, Appointed Chairman of Nigerian Education Loan Fund by President Tinubu

President Bola Tinubu has approved the appointment of the Founder and Chairman of Zenith Bank Plc, Jim Ovia, CFR, as the Chairman of the Board of the Nigerian Education Loan Fund (NELFUND). This announcement was made in a State House Press Release by the Special Adviser to the President on Media and Publicity, Chief Ajuri Ngelale.

According to Ngelale, "the President believes Mr. Ovia will bring his immense wealth of experience and professional stature to this role to advance the all-important vision of ensuring that no Nigerian student suffers a capricious end to their pursuit of higher education over a lack of funds and of ensuring that Nigerian youths, irrespective of who they are, have access to higher education and skills that will make them productive members of society and core contributors to the knowledge-based global economy of this century."

Jim Ovia, the Founder and Chairman of Zenith Bank Plc, is a well-known figure in the Nigerian banking industry. With over $21.4 billion in assets and shareholders’ funds of over US$2.4 billion as of December 2023, Zenith Bank is a global brand listed on the London Stock Exchange and the Nigerian Stock Exchange. Ovia is also the Founder and Chancellor of James Hope University in Lagos, which recently received approval to offer postgraduate degrees in business courses.

Through his philanthropic efforts via the Jim Ovia Foundation, Ovia has demonstrated a commitment to supporting education in Nigeria. The foundation offers scholarships to indigent students through the Mankind United to Support Total Education (MUSTE) initiative, enabling many beneficiaries to pursue careers in various fields such as accounting, business administration, law, engineering, and medicine.

Ovia, an alumnus of prestigious institutions like Harvard Business School, has been recognized for his contributions to Nigeria's economic development. In 2022, he was honored with the Commander of the Federal Republic (CFR) award by the Federal Government of Nigeria. Additionally, he has received other national awards in past years in acknowledgment of his visionary leadership in the financial services sector.

The Nigerian Education Loan Fund plays a crucial role in ensuring sustainable higher education and skill development for Nigerian students and youths. As the newly appointed Chairman, Jim Ovia will be instrumental in guiding and managing this essential initiative.