“I Started Zenith Bank With ₦20 Million In 1990” — Jim Ovia
The founder of Zenith Bank Plc, Jim Ovia, has revealed how the bank was established in 1990 with a startup capital of ₦20 million, urging young Nigerians to remain focused and determined in the face of challenges. Ovia disclosed this in an interview shared on X (formerly Twitter) on Thursday by user AjMachalaa, where he reflected on the bank’s humble beginnings and its growth into one of Africa’s leading financial institutions. “I started Zenith Bank with ₦20 million in 1990. That is about $5 million at the same rate of ₦4 to the dollar,” he said, noting that economic realities were very different then. The banker noted that about two decades later, the bank’s shareholders’ funds had risen to approximately $4 billion, describing the growth as a remarkable return on investment. “From $4 million to $4 billion. You can do the math. It will give you some thousands percentage return,” Ovia added. Speaking on the factors behind the bank’s success, he advised young people to...