By Dipo Olowookere
A director with NPF Microfinance Bank Plc, Mr Francis Chukwuemeka Nelson, has repurchased some of the stocks of the company he sold off a month earlier.
Business Post recalls that the small bank established by the Nigeria Police Force (NPF), as required by the listing rules for insider transactions, had on November 11, 2022, disclosed that Mr Nelson offloaded about one million units of the company’s equities.
In the notice, it was stated that the transaction occurred a day earlier, and the aggregate price of the stock was N1.47 per unit.
However, the reason for the sale was not mentioned in the disclosure from the organisation.
On Thursday, December 15, 2022, NPF MfBank, in another statement signed by the company secretary, Osaro Idemudia, disclosed that Mr Nelson had bought the company’s shares, this time, 873,496 units at an average price of N1.66 per unit. The transaction date for this was December 13, 2022.
Analysis of the company’s trading activity on the Nigerian Exchange (NGX) Limited showed that these equities were bought on different days until Thursday.
On Tuesday, December 13, the firm sold a total of 26,062 units of its stocks, with the price closing at N1.69. A day earlier, it traded 783,315 units and closed at N1.69, and last Friday, the lender transacted 188,282 units at N1.69.
Mr Nelson, who obtained an MBA from Nnamdi Azikiwe University, was once an Assistant Manager in charge of Audit at Achike Emejulu & Associates and served as the Manager of the Accounts Department at Swiss-Nigeria Chemical Co. Ltd, as well as an Assistant Manager for the Accounts Department at Occidental Finance Securities Ltd. He is a Fellow at the Chartered Institute of Taxation of Nigeria.
Adedapo Adesanya 
Modupe Gbadeyanka