Engr. Mustafa Bello
Abayomi Susan
Zenith Bank Plc has announced the appointment of Engr. Mustafa Bello as Chairman of its Board of Directors. The appointment takes immediate effect and has received approval from the Central Bank of Nigeria (CBN), as well as ratification by shareholders at the Annual General Meeting held on May 5, 2026.
Engr. Bello’s elevation to Chairman is aimed at ensuring continuity, stability, and sustained effectiveness of the Board, while further strengthening Zenith Bank’s longstanding reputation for excellence in corporate governance, regulatory compliance, and strategic oversight. He has been a member of the Bank’s Board since December 29, 2017, during which he has contributed actively across several committees, including the Board Audit and Compliance Committee, the Board Governance, Nomination and Remuneration Committee, and most recently served as Chairman of the Board Risk Management Committee prior to his new appointment.
He brings extensive experience spanning executive and board leadership roles, with a deep understanding of governance standards, regulatory frameworks, and strategic organisational growth. Known for his integrity, independence, and sound judgement, he has consistently distinguished himself as a trusted leader, making him a natural choice to lead the Board into its next phase.
Engr. Mustafa Bello is a respected engineer, statesman, and corporate leader with over four decades of experience across Nigeria’s public and private sectors. He served as Minister of Commerce of the Federal Republic of Nigeria from 1999 to 2002 under President Olusegun Obasanjo, where he led the development of Nigeria’s WTO-aligned trade policy. During his tenure, he also supervised the Corporate Affairs Commission (CAC) online project in 2002, which significantly modernised business registration processes in Nigeria.
From November 2003 to February 2014, he served as Executive Secretary and Chief Executive Officer of the Nigerian Investment Promotion Commission (NIPC), where he played a key role in attracting foreign direct investment, strengthening bilateral and multilateral partnerships, and representing Nigeria at global investment forums.
He graduated from Ahmadu Bello University (ABU), Zaria, in 1978 with a Bachelor of Engineering in Civil Engineering (Second Class Upper Division), and received the Shell Prize for Best Project and Thesis in the Faculty of Engineering. He began his professional career with the Nigerian Army’s Directorate of Quartering and Engineering Services (1978–1979) before joining the Niger State Housing Corporation as a Senior Civil Engineer (1980–1983).
He currently serves as Chairman of Invest-in-Northern Nigeria Limited, a special purpose vehicle focused on the economic and social transformation of Northern Nigeria. He has also served on the boards of Eskom Holdings Limited in South Africa (2004–2008) and FrieslandCampina WAMCO Nigeria Plc as an Independent Non-Executive Director. He is a Fellow of the Nigerian Society of Engineers, a registered member of the Council for the Regulation of Engineering in Nigeria (COREN), and a Fellow of the Academy of Natural Sciences & Engineering in Nigeria (ANSEN).
Zenith Bank remains one of Africa’s foremost financial institutions, with a strong capital base and operations spanning Nigeria, the United Kingdom, the United Arab Emirates, Ghana, Sierra Leone, The Gambia, and Côte d’Ivoire.
