Nigerian banker Jim Ovia has gained $18.5 million from his stake in Zenith Financial institution for the reason that begin of 2026 as shares within the Lagos-based lender proceed to climb on the Nigerian Change (NGX). The acquire comes as traders return to massive, dividend-paying lenders, in search of predictable earnings in an economic system nonetheless adjusting to foreign money reforms and inflation pressures.
Jim Ovia’s stake rises as Zenith shares climb
Ovia owns 5.08 billion shares in Zenith Financial institution, representing a 16.2 % stake within the lender he based greater than three many years in the past. Since Jan. 1, the market worth of that holding has elevated by N26.43 billion ($18.55 million), reflecting a gentle rise within the financial institution’s share value and renewed confidence in its monetary place as traders search out dividend-paying shares.
Zenith shares have gained 8.4 % to this point this yr, rising from N61.8 ($0.0434) on Jan. 1 to N67 ($0.047). That improve has pushed the financial institution’s market cap above $1.9 billion, maintaining it amongst Nigeria’s most respected firms at a time when banking shares are main beneficial properties.
The latest share-price improve has lifted Ovia’s stake from N314.12 billion ($220.01 million) to N340.55 billion ($238.5 million). For long-term shareholders, the transfer reinforces Zenith Financial institution’s repute as a dependable performer in a sector usually marked by sharp cycles.
Conservative technique drives Zenith Financial institution resilience
Ovia based Zenith Financial institution in 1990 after acquiring a license from Nigeria’s central financial institution, getting into a sector dominated by established lenders. The financial institution grew from a small startup right into a lender working throughout Nigeria, West Africa and the UK. Conservative lending, sturdy capital buffers and tight price controls helped it navigate foreign money swings, regulation and financial downturns.
The most recent rally in Zenith Financial institution shares follows the discharge of its nine-month results for the period ended Sept. 30, 2025. The financial institution reported gross earnings of N3.37 trillion ($2.36 billion), up 16.3 % from N2.9 trillion ($2.03 billion) a yr earlier. Internet curiosity revenue rose 50.4 % to N1.93 trillion ($1.35 billion), supported by greater yields and tighter stability sheet administration.
