Nigerian banker Jim Ovia has seen another boost the market value of his stake in Zenith Bank Plc, the countrys most profitable lender, continues to rise. A recent rally in the banks shares has added 13.23 million to the value of Ovias holding, propelling it above 220 million.
The gain follows renewed investor interest in Nigerian banks, driven by strong earnings, higher capital buffers, and expectations of benefits from interest rate and foreign exchange reforms. Ovia holds 5.08 billion Zenith Bank shares, a 16.2 percent stake in the lender he founded in 1990 and still chairs. Its value rose N19.31 billion 13.23 million over 33 days.
Three decades of banking leadership
