Jim Ovia becomes chairman of the Nigerian Education Loan Fund Board

By Modupe Gbadeyanka

The Chairman of Zenith Bank Plc, Mr. Jim Ovia, has been appointed Chairman of the Board of the Nigerian Education Loan Fund (NELFUND) by President Bola Tinubu.

The veteran banker is expected by Mr. Tinubu to “bring his vast wealth of experience and professional stature to this role to further the all-important vision of ensuring that no Nigerian student will capriciously end his pursuit of higher education due to lack of money. and ensure that Nigerian youth, no matter who they are, have access to higher education and skills that will make them productive members of society and key contributors to the knowledge-based global economy of this century,” said a statement signed by the Nigerian government . Special Adviser to the President on Media and Publicity, Mr. Ajuri Ngelale, on Friday, April 26, 2024.

The National Student Loan Program is a critical intervention that seeks to ensure sustainable higher education and functional skills development for all Nigerian students and youth.

The Nigerian Education Loan Fund, the implementing agency of this innovation, demands excellence and Nigerians of the best professional breed to guide and manage.

Mr. Ovia founded Zenith Bank in the 1990s and is one of Africa’s largest lenders with over $21.4 billion in assets and equity of over $2.4 billion as of December 2023.

Zenith Bank is a global brand listed on the London Stock Exchange (LSE) and the Nigerian Exchange (NGX) Limited.

In addition to major operations in Nigeria and other West African countries, the Bank has extensive operations in London and Dubai.

The appointee is the Founder and Chancellor of James Hope University, Lekki, Lagos, which was recently approved by the National Universities Commission (NUC) to offer postgraduate degrees in business courses. James Hope University commenced operations in September 2023.

Through his philanthropy – the Jim Ovia Foundation – he has shown how much importance he attaches to good education. To support Nigeria’s youth, the Jim Ovia Foundation offers scholarships to indigent students through the Mankind United to Support Total Education (MUSTE) initiative. Most of the recipients of the Jim Ovia Foundation scholarship are now accountants, business administrators, lawyers, engineers, doctors etc.

He is the author of Africa rise and shine, published by ForbesBooks. The book that summarizes the meteoric rise of Zenith Bank describes the secrets to success in doing business in Africa.

He is an alumnus of Harvard Business School (OPM), University of Louisiana (MBA) and Southern University, Louisiana, (B.Sc. Business Administration).

Mr. Ovia is a member of the World Economic Forum (WEF) Presidents’ Community and a champion of the Forum’s EDISON Alliance. In recognition of his contributions to Nigeria’s economic development, the Nigerian government honored him with the title of Commander of the Federal in 2022

Republic (CFR).

Mr. Ovia also received the National Productivity Order of Merit (NPOM) Award from the Federal Government of Nigeria in May 2022.

He previously received the national awards of Member of the Order of the Federal Republic (MFR) and Commander of the Order of the Niger (CON) in 2000 and 2011 respectively, as a testament to his visionary leadership and contributions. for the Nigerian financial services sector.

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