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| Description: Net Worth: $2.3 BILLION Industry: Financial Services Country of Citizenship: Nigeria Age: 60 Number of Jobs Created: 1,450 The Nigerian-born banker built his fortune by founding Zenith Bank Group, one of Nigeria’s largest financial institutions, with market capitalisation of more than $4 billion. He is the bank’s largest individual shareholder. Ovia then moved into Nigeria’s telecommunications sector. In 2007, he acquired three CDMA mobile network operators that had been in operation for up to eight years and merged them to form Visafone, a company with 4.2 million subscribers. In 2010, Jim Ovia stepped down from his position as chief executive of Zenith Bank when Nigeria’s Central Bank promulgated a new banking law stating that no chief executive should serve more than 10 years in that capacity. He recently returned to the bank he founded as chairman. Through his investment arm, Quantum Group, Ovia is constructing a $1.5-billion petrochemicals plant in oil-rich Akwa Ibom state in Nigeria. When completed, the plant will produce methanol, polypropylene and polyethylene. Jim Ovia is also investing heavily in the real estate sector. His Quantum Luxury Properties is building a five-star, 150-bed Marriott hotel in Lagos. In addition, Ovia owns numerous properties all over Nigeria. |
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