Zenith Bank Names Engr. Mustafa Bello as New Board Chairman
Appointment Takes Effect Immediately Following CBN Approval and Shareholder Ratification at 2026 AGM
Zenith Bank Plc has named Engr. Mustafa Bello as the new Chairman of its Board of Directors, with the appointment taking immediate effect following regulatory clearance from the Central Bank of Nigeria (CBN) and formal endorsement by shareholders at the bank’s Annual General Meeting held on May 5, 2026.
The bank described the move as a deliberate measure to preserve boardroom continuity and institutional stability, while upholding the governance standards and regulatory discipline that have long defined Zenith Bank’s reputation within Nigeria’s financial sector.
Bello is no stranger to the Zenith Bank boardroom. He joined the board on December 29, 2017, and has since served across key committees, including the Board Audit and Compliance Committee and the Board Governance, Nomination and Remuneration Committee, most recently occupying the role of Chairman of the Board Risk Management Committee prior to his elevation.
A seasoned engineer, statesman, and corporate strategist, Bello brings more than four decades of cross-sector experience to his new role. He served as Nigeria’s Minister of Commerce between 1999 and 2002 under the administration of President Olusegun Obasanjo, during which he spearheaded the formulation of Nigeria’s World Trade Organization-compliant Trade Policy and oversaw the digital transformation of the Corporate Affairs Commission’s business registration processes.
From November 2003 to February 2014, he held the position of Executive Secretary and Chief Executive Officer of the Nigerian Investment Promotion Commission (NIPC), where he played a pivotal role in drawing foreign direct investment into the country and forging bilateral and multilateral economic partnerships on behalf of the Federal Government.
Bello holds a Bachelor of Engineering degree in Civil Engineering (Second Class Upper Division) from Ahmadu Bello University, Zaria, graduating in 1978 — a year in which he also claimed the prestigious Shell Prize for the most outstanding project and thesis in the Faculty of Engineering. He launched his professional career with the Nigerian Army’s Directorate of Quartering and Engineering Service before transitioning to the Niger State Housing Corporation as a Senior Civil Engineer.
Beyond banking, he currently chairs Invest-in-Northern Nigeria Limited, a special purpose vehicle focused on the economic and social development of northern Nigeria. He has previously served on the boards of South Africa’s Eskom Holdings Limited and FrieslandCampina WAMCO Nigeria Plc. He holds fellowship distinctions from the Nigerian Society of Engineers and the Academy of Natural Sciences and Engineering in Nigeria (ANSEN), and is a registered member of the Council for the Regulation of Engineering in Nigeria (COREN).
Zenith Bank remains one of Africa’s foremost financial institutions, with a robust capital base and a growing footprint spanning Nigeria, the United Kingdom, the United Arab Emirates, Ghana, Sierra Leone, The Gambia, and Côte d’Ivoire.
