The Nigerian Exchange (NGX) recorded significant growth in 2025, with total market capitalisation rising from N62.7 trillion at the end of 2024 to N99.38 trillion by December 31, 2025.
The top 10 listed companies accounted for about N65 trillion of the total market value, representing 65.5% of the exchange.
These companies span sectors including banking, telecommunications, cement manufacturing, energy, and consumer goods.
Behind these firms are board chairmen responsible for overseeing governance, guiding long-term strategy, and ensuring board effectiveness.
While chief executives handle day-to-day operations, board chairmen focus on shareholder value, corporate direction, and institutional stability.
The list includes prominent bankers, industrialists, economists, lawyers, and politicians with decades of experience across various industries.
Below is a look at the board chairmen leading Nigeria’s 10 largest listed companies by market capitalisation in 2025.
Jim Ovia served as Chairman of Zenith Bank until his retirement on May 5, 2026, when Engr. Mustafa Bello succeeded him.
Zenith Bank ranked as the 10th most valuable company on the NGX in 2025, with a market capitalisation of N2.53 trillion, representing a 77.6% increase from N1.43 trillion in 2024. The bank’s strong market performance reflects sustained investor confidence and earnings growth.
Ovia founded Zenith Bank in 1990 and transformed it into one of Nigeria’s most profitable financial institutions.
Born in Agbor, Delta State, he began his career as a bank clerk before travelling to the United States for higher education. He holds a degree in Business Administration from Southern University, Louisiana, an MBA from the University of Louisiana, Monroe, and is also an alumnus of Harvard Business School.
Under his leadership, Zenith Bank grew into one of Africa’s leading banks with a strong reputation for profitability, innovation, and corporate governance. His retirement marked the end of an era for one of Nigeria’s most influential banking founders.
