Zenith Bank Founder Ovia Steps Down as Chairman
- Leadership Transition: Jim Ovia, the founder of Zenith Bank, officially stepped down as Chairman on May 5, 2026, after completing the 12-year tenure mandated by Nigerian corporate governance regulations, marking a significant turning point in the bank's history.
- Financial Performance: Under Ovia's leadership, Zenith Bank reported a pre-tax profit of N1.26 trillion in 2025, a 4.78% decrease from the previous year, primarily due to a directive from the Central Bank of Nigeria that impacted overall bank profitability.
- Revenue Growth: In 2025, Zenith Bank's interest income surged from N2.7 trillion in 2024 to N3.6 trillion, with loans and advances contributing N1.8 trillion, reflecting a year-on-year growth of 20.15%, indicating a robust business foundation.
- New Chairman's Challenges: Engr. Mustafa Bello, the new chairman, faces the challenge of maintaining the corporate culture and governance standards established during Ovia's tenure while navigating rising credit costs and macroeconomic volatility.
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Technical Analysis for BANK
Technical Sentiment Analysis for Lorenzo Protocol (BANK). As of , Lorenzo Protocol (BANK) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 6 technical signals, shows that 4 indicators are flashing buy, while 2 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BANK stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, BANK is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Lorenzo Protocol (BANK) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0267 | 0.0296 | 0.0317 | 0.0346 | 0.0367 | 0.0396 | 0.0417 |
| Fibonacci | 0.0296 | 0.0315 | 0.0327 | 0.0346 | 0.0365 | 0.0377 | 0.0396 |
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