Zenith Bank Plc has announced the appointment of Engr. Mustafa Bello as the Chairman of its Board of
Directors. The appointment, which takes immediate effect, has been approved by the Central Bank of
Nigeria (CBN) and ratified by shareholders at the Annual General Meeting held on May 5, 2026.
Engr. Bello’s appointment represents a strategic step to ensure the continuity, stability, and sustained
effectiveness of the Board, while reinforcing the high standards of corporate governance, regulatory
compliance, and strategic oversight for which Zenith Bank is widely respected.
He joined the Board of Zenith Bank Plc on 29 December 2017 and has served on several Board committees, including the Board Audit and Compliance Committee, Board Governance, Nomination and Renumeration Committee and as Chairman of the Board Risk Management Committee until his appointment as Chairman of the Board of Directors.
He has extensive leadership experience at Board and executive levels, a strong understanding of
corporate governance principles and regulatory expectations, and a proven track record in strategic
oversight and organisational growth. He has consistently demonstrated integrity, independence and
sound judgement, qualities that distinguished him as the natural choice to lead the Board into its next
chapter.
Engr. Mustafa Bello is a distinguished engineer, statesman and corporate leader. His career spans more
than four decades across the public and private sectors of the Nigerian economy. He served as Minister
of Commerce of the Federal Republic of Nigeria from 1999 to 2002 under President Olusegun Obasanjo,
GCFR, where he led the development of Nigeria’s WTO-consistent Trade Policy. He also oversaw the
Corporate Affairs Commission (CAC) online project of 2002, which modernised the way businesses
register and operate in the country. From November 2003 to February 2014, he served as Executive
Secretary and Chief Executive Officer of the Nigerian Investments Promotion Commission (NIPC), where
he was instrumental in attracting foreign direct investment into Nigeria, building multilateral and bilateral
partnerships, and representing the Federal Government at international conferences and missions.
He graduated from Ahmadu Bello University (ABU), Zaria, in 1978 with a B.Engr. in Civil Engineering
(Second Class Upper Division), winning the Shell Prize for the best project and thesis in the Faculty of
Engineering. He began his career with the Nigerian Army’s Directorate of Quartering and Engineering
Service from 1978 to 1979, before joining the Niger State Housing Corporation as a Senior Civil Engineer
from 1980 to 1983.
He is currently the Chairman of Invest-in-Northern Nigeria Limited, a special purpose vehicle for the
economic and social transformation of the Northern Nigerian economy, and has previously served on the
boards of Eskom Holdings Limited of the Republic of South Africa (2004 to 2008) and FrieslandCampina
WAMCO Nigeria Plc as an Independent Non-Executive Director. He is a Fellow of the Nigerian Society of
Engineers and a Registered Member of Council for the Regulation of Engineering in Nigeria (COREN) as
well as Fellow of the Academy of Natural Sciences & Engineering in Nigeria (ANSEN).
Zenith Bank stands among Africa’s leading financial institutions, with a strong capital base and
operations across Nigeria, the United Kingdom, the United Arab Emirates, Ghana, Sierra Leone, The
Gambia and Côte d’Ivoire.
