Sterling Bank Managing Director Abubakar Suleiman Bolsters Holdings with Latest Share Acquisition

Sterling Financial Holdings Corporation’s (FHC) Managing Director, Mr. Abubakar Suleiman, has increased his stake in the financial institution according to the latest disclosure published on the Nigerian Stock Exchange (NGX) floor.

In the statement obtained by Investors King, Mr. Abubakar Suleiman acquired an additional 50 million shares at N3.36 a unit on Thursday.

A critical look into the bank’s financial statement shows that the managing director held a direct stake of 262,668,608 shares in the bank before acquiring another 50 million units.

This increased his total stake in the company to 1.08 percent or  312,668,608 share units, up from 0.91 percent.

Abubakar Suleiman

Abubakar Suleiman is an economist and a banker with over 20 years of experience in consulting and financial services.

As the Chief Executive Officer of Sterling Bank Plc, his top priority is to optimise the impact of financial intermediation in critical sectors that can catalyse growth and create a future of shared prosperity for all Nigerians. These sectors are Health, Education, Agriculture, Renewable Energy and Transportation, and are at the H.E.A.R.T of Sterling.

Before his current role, he served as an Executive Director and Chief Financial Officer of the bank and was the executive sponsor of the Bank’s non-interest banking business (Sterling Alternative Finance). Abubakar holds a Bachelor’s Degree (B.Sc) in Economics from the University of Abuja, and a Master of Science (M.Sc.) in Major Programme Management from Said Business School, University of Oxford. He is also an Alumnus of IESE Business School.

His previous work experience includes tax advisory at Arthur Andersen and financial markets with Citibank Nigeria. He is a firm believer in the role of efficient markets, emerging technologies, and small businesses in unlocking productivity, improving national competitiveness, and driving inclusive economic growth.

He currently serves on the Advisory Boards of Lagos Business School (LBS) and the Enterprise Development Centre (EDC) of the Pan Atlantic University.