Zenith Bank warns against fake Wealth Bridge videos linked to its Chairman, Jim Ovia

Zenith Bank is asking Nigerians to ignore videos circulating on social media that falsely show its Group Chairman, Jim Ovia, endorsing an investment scheme called Wealth Bridge. The bank says the videos are completely fake and have nothing to do with it or its chairman.

The fraudulent videos are being shared through a Facebook account called “Greece Island” and promise returns of up to ₦2 million weekly on a ₦380,000 investment. To make the scheme look legitimate, the videos claim the Central Bank of Nigeria has approved it and redirect viewers to a webpage that appears to be an Arise News site with a registration portal.

Zenith Bank addressed the scam on its official X account on Tuesday, describing everything connected to the scheme, the videos, promotional materials, and affiliated accounts, as fake.

The bank was clear: neither Jim Ovia nor any of its affiliate companies has any connection to Wealth Bridge or the entities promoting it.

Zenith Bank Building

How the Wealth Bridge investment scam works

The scheme is a fairly sophisticated fraud setup. Using a recognisable face like Jim Ovia’s lends an appearance of credibility to the scheme with people who might not look closely enough.

Ovia is one of Nigeria’s most respected bankers and the founder of Zenith Bank. Attaching his name to an investment pitch makes it easier to convince unsuspecting people that the opportunity is real.

The CBN endorsement claim adds another layer of false legitimacy. Most Nigerians know that investment schemes require regulatory approval, so dropping the apex bank’s name into the pitch is designed to silence scepticism before it starts.

The fake Arise News webpage takes it further, mimicking a trusted media outlet to make the scheme appear newsworthy and credible.

The ₦380,000 entry point is also calculated. It’s high enough to suggest exclusivity but accessible enough that middle-income Nigerians could realistically scrape it together, especially if they believe a weekly return of ₦2 million is waiting on the other side.

Zenith Bank lists other fake investment entities

The bank named specific entities people should avoid: Greece Island, Wealth Bridge, Delicious Site, AfriQuantumX, and Stock Market Analyst 1. Anyone who engages with any of these platforms based on the fake videos does so entirely at their own risk, Zenith warned.

The statement is a reminder that investment scams are getting more sophisticated. Bad actors are no longer just sending generic emails; they’re creating fake webpages, impersonating media outlets, and using AI or edited footage to put words in the mouths of credible public figures.

Read also: EFCC indicts 9 fintech and investment firms in ₦18bn scam

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