Adobi Stella Nwapa, an executive director at Zenith Bank Plc, has acquired an impressive 4.04 million shares, reiterating her confidence in the institution’s future growth prospects.
This significant development highlights Nwapa’s commitment to Zenith Bank’s success and solidifies her position as a key stakeholder in the company’s journey.
The news of Nwapa’s latest share acquisition comes after a notice titled “Notification of Share Dealing by Insider” was published on the Nigerian Exchange Group’s website. The document, signed by Zenith Bank’s company secretary and general counsel, Michael Osilama Otu, revealed the specifics of Nwapa’s investment, further demonstrating her dedication to the bank.
Nwapa’s acquisition took place in three separate tranches. The first tranche occurred on May 10, 2023, as she procured an impressive 3,962,111 units of the bank’s shares, valued at N95.288 million. The purchase price per share stood at N24.05, reflecting Nwapa’s astute investment decisions.
In the second tranche, executed on May 16, 2023, Nwapa acquired an additional 37,889 units of Zenith Bank’s shares. These shares, priced at N24.50 each, amounted to a value of N928,280.50. Undeterred, Nwapa proceeded to complete the final tranche on the same day, acquiring another 37,889 units of shares at the same price and value.
With these transactions, Nwapa’s total shares in Zenith Bank now amount to an impressive 15,046,095 units, representing a substantial increase from her holdings as of December 31, 2022, which stood at 11,008,206 units. This remarkable expansion of her shareholding further solidifies Nwapa’s position as a key figure within the bank and strengthens her influence on its strategic direction.
Zenith Bank, established in May 1990 and headquartered in Lagos, stands as Nigeria’s largest bank by tier-1 capital. With an extensive network of over 500 branches spread across major cities, the bank has established itself as a significant player in the nation’s financial landscape. Moreover, Zenith Bank’s subsidiaries in countries such as Sierra Leone, Ghana, and Gambia have contributed to its robust presence within the African continent.
