Nigeria’s recent appointment of Jim Ovia, the country’s wealthiest banker and founder of Zenith Bank Plc, as chairman of the board of the Nigerian Education Loan Fund(NELF), has sparked controversy and raised eyebrows across the nation.

Many citizens are expressing dissatisfaction with the decision, citing concerns over Ovia’s close ties to beleaguered former Central Bank Governor Godwin Emefiele and his alleged role in recommending Emefiele for the CBN top job.

President Bola Ahmed Tinubu’s selection of Ovia for this crucial role is viewed by some as a strategic move to bolster access to higher education and drive economic development. However, for many Nigerians, Ovia’s appointment raises questions about transparency and accountability in the country’s education sector.

Ovia’s vast experience in the banking industry undoubtedly brings valuable insights to the table, but his association with Emefiele, who succeeded him as GMD/CEO of Zenith Bank Plc, has cast a shadow over his appointment.

Allegations of nepotism and favoritism have fueled skepticism about Ovia’s ability to lead the Education Loan Fund impartially and effectively.

Moreover, the appointment comes at a time when Emefiele is facing mounting allegations of misconduct during his tenure as CBN governor.

Some Nigerians question why Ovia, who allegedly recommended Emefiele for the CBN job, has not intervened on behalf of his “kinsman and boy” amid the controversy surrounding him.

While some argue that Ovia’s decision to keep a distance from Emefiele’s troubles may be prudent given the gravity of the allegations, others view it as a betrayal of their purported relationship.

The lack of clarity surrounding Ovia’s stance on Emefiele’s predicament has fueled speculation and drawn attention to the complexities of Nigeria’s business and political landscape.

Only time will tell whether Ovia’s tenure as chairman of the NELF will be marked by transformative change and progress or overshadowed by controversy and skepticism.

In a country striving for educational equity and economic prosperity, the stakes have never been higher.