UBA’s Chief Risk Officer/Director Loads Additional Stocks

By Dipo Olowookere

An executive director on the board of United Bank for Africa (UBA) Plc, Mr Uche Ike, has expanded his stake in the financial institution.

Mr Ike also serves as the Chief Risk Officer of the lender, which is among the five biggest commercial banks in Nigeria, having branches outside the country in Africa and Europe.

In a notification on Friday, UBA said Mr Ike purchased some additional shares of the company at the exchange today during the trading session.

It was stated that the director bought a total of 70,574 units of the bank’s equities at a unit price of N5.15, amounting to N363,456.

Business Post reports that at today’s session, investors traded a total of    24.1 million stocks of UBA valued at N124.8 million, while the share price of the company appreciated by 20 kobo to N5.35 from N5.15 it traded on Thursday.

Mr Ike, a product of the University of Benin, Edo State, is an associate member of the Institute of Chartered Accountants of Nigeria (ICAN). He was the former general manager of UBA branch in New York, USA and then made the Chief Risk Officer, before he was appointed on the board of the bank in 2016.

Under the listing rules, the Nigerian Stock Exchange (NSE) requires companies trading their stocks on its platform to always update the investing public trading actions taken by members of their boards.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via dipo.olowookere@businesspost.ng

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