First City Monument Bank (FCMB) Limited has reported a series of insider transactions involving key executives and board members who collectively acquired 14,905,521 units of the bank’s shares at ₦9.10 per unit on May 2, 2025.
The total value of the insider acquisitions amounts to approximately ₦135.65 million, signaling increased internal confidence in the bank’s long-term strategy and performance.
According to the regulatory filing submitted to the Nigerian Exchange Limited (NGX), the following executives carried out the transactions:
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Mrs. Yemisi Edun, Managing Director/Chief Executive Officer, purchased 3,130,075 shares, valued at approximately ₦28,483,683.
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Mr. Ladi Balogun, Group Chief Executive of FCMB Group Plc, acquired 4,380,673 shares, worth ₦39,863,124.
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Mr. Gbolahan Joshua Simisola, Director, purchased 2,592,857 shares, amounting to ₦23,599,002.
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Mr. Olufemi Badeji, Director, bought 1,773,324 shares, worth ₦16,142,248.
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Mrs. Oluwatoyin Olaiya, Director, acquired 1,071,428 shares, valued at ₦9,748,995.
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Ms. Felicia Obozuwa, Director, purchased 792,857 shares, worth ₦7,215,003.
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Mrs. Olufunmilayo Olubunmi Adedibu, Company Secretary, acquired 1,164,307 shares, valued at ₦10,592,194.
These insider purchases come at a time of increased investor interest in Nigeria’s banking sector, driven by strong Q1 financial results and growing capital investment across Tier 2 banks.
The coordinated acquisition by multiple top executives within the same trading session is interpreted as a strong vote of confidence in FCMB’s growth trajectory and market fundamentals.
Insider share dealings are closely monitored by the investing community as they often reflect sentiment from individuals with direct insight into company operations and forward-looking strategies.
