Zenith Bank CEO, Director Get Additional 3 Million Shares

Ebenezer Onyeagwu Zenith Bank
Zenith Bank GMD, Mr Ebenezer Onyeagwu

By Adedapo Adesanya

The Group Managing Director/Chief Executive Officer (CEO) of Zenith Bank, Mr Ebenezer Onyeagwu, has purchased more stocks of the financial institution with the acquisition of one million units.

The company disclosed this in a notice to the Nigerian Stock Exchange (NSE) on Thursday.

The disclosure signed by the scribe, Mr Micheal Osilama Otu, stated that the Zenith Bank chief made the purchase in two tranches on Wednesday, September 16.

The breakdown of the transaction showed that Mr Onyeagwu first purchased 500,000 units at N17.10 each and another 500,000 units at N17 each.

Equally, an Executive Director of the bank, Mr Umar Shuaib Ahmed, purchased an additional two million units at the bourse on Wednesday, which was the qualification date for the 30 kobo per share interim dividend declared by the board for the first half of the year.

Like Mr Onyeagwu, Mr Ahmed bought the equities in two tranches. The first purchase was for 1,695,670 units at N17 each and the second was for 304,330 units at N16.95 each.

These purchases will increase the dividends of both individuals when they are paid at the scheduled date, Tuesday, September 22.

The disclosure of the purchases by the two persons is a regulatory requirement that must be reported to the NSE, especially when a major shareholder or director of a publicly quoted company purchases or sells shares.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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