UK Eke, MFR, FBN Holdings GMD, Acquires N121.612 Million Shares in the Bank

The Group Managing Director (GMD) of FBN Holdings Plc, UK Eke, MFR purchased 17,104,359 shares in FBN holdings, according to the latest insider trading disclosure report filed by the management of the lender.

In a statement signed by Seye Kosoko, Company Secretary, FBN Holdings Plc, U.K. Eke, MFR carried out the purchase in two transactions on May 14, 2021.

The GMD purchased 12,000,000 shares of FBN Holdings Plc at N7.14 per share while another 5,104,359 shares were acquired at N7.07 a unit.

Cumulatively, Eke bought 17,104,359 shares of FBN Holdings Plc at an average price of N7.11 per share from the Nigerian Exchange Limited trading floor in Lagos, Nigeria.

The disclosure was in line with the Securities and Exchange Commission policy that all insider trading must be declared to deepen transparency across the board.

UK Eke, MFR assumed office as Group Managing Director (GMD), FBN Holdings Plc on January 1, 2016. He joined the Board of FirstBank, an FBN Holdings Company, in 2011 as Executive Director, Public Sector South and later became Executive Director, South before his appointment as GMD of FBN Holdings. His sound managerial and motivational skills, coupled with his vast experience, helped develop FirstBank’s businesses within the Public Sector, Retail and Private Banking Groups.

He currently sits on the boards of First Bank of Nigeria Limited and FBNQuest Merchant Bank Limited as a Non-Executive Director.

In 2017, he was appointed to the board of Nigeria Sovereign Investment Authority (Sovereign Wealth Fund).

He was Executive Director, Regional Business, Lagos & West, Diamond Bank Plc. His other work experience includes Deloitte Haskins & Sells International where he rose to the position of Audit Senior. He has 35 years experience in financial services, strategy, auditing, consulting, taxation, process re-engineering and capital market operations.

UK, a Fellow of the Institute of Management Consultants, Fellow of the Institute of Directors, and Fellow of the Institute of Chartered Accountants of Nigeria, holds a first degree in Political Science (University of Lagos) and an MBA in Project Management Technology (Federal University of Technology, Owerri).

He has attended several Executive Management and Board training programs at Harvard Business School, Stanford Business School, IESE Barcelona, China European International Business School Shanghai, China, International Institute for Management and Development Lausanne, Switzerland, Wharton Business School and Lagos Business School.

A philanthropist and mentor to many, he is the Founder and Chairman, Elder K.U. Eke Memorial Foundation. He is a Patron, Lagos State Council, Boys’ Brigade Nigeria and a Paul Harris Fellow of The Rotary Club International.

He is the Chairman Advisory Board, Lifeforte International High School, Ibadan.

UK is a recipient of Nigeria’s National Honour of Member of the Order of the Federal Republic (MFR).