According to a regulatory filing at the Nigerian Exchange, an independent non-executive director of United Bank for Africa (UBA), Henrietta Ugboh, has acquired 49,700 new shares in the lender.
Ms Ugboh obtained the shares on 30 May at a unit price of N34.75, putting the total transaction cost at N1.7 million. She was appointed as an independent non-executive director last November, following the retirement of Owanari Duke. On 2 May, Raymond Chidubem Ogboh, a relative of the non-executive director, acquired 200,000 shares in two separate deals. The acquisition was valued at N7 million.
The directors of the pan-African lender are increasing their stakes in the bank, apparently to position themselves ahead of the declaration of a half-year dividend due later this year. UBA is among a couple of Nigeria’s listed companies that pay dividends twice a year.
On 2 May, Oliver Alawuba, the lender’s CEO, who, as of last year, held 111 million shares in the lender according to its latest audited annual report, acquired 10.4 million new shares. That took his tally to 121.4 million and his stake to 0.4 per cent. The transaction was valued at N362.5 million.
Mr Alawuba more than doubled his stake in the corporation last year from 57 million shares in the previous year.
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Also on 2 May, Muyiwa Akinyemi, the group’s deputy managing director in charge of southern operations, acquired 2.8 million shares worth N97 million. The share purchase put the stake of Mr Akinyemi, who raised his shareholding in the bank by 209 per cent last year, at 59.6 million shares, translating to 0.2 per cent.
Ugochukwu Nwaghodoh, the group executive director in charge of finance and risk management, added 5.5 million shares to his stake on 2 May, taking his holding to 76.5 million shares or 0.22 per cent. The deal was valued at N193.3 million. Mr Nwaghodoh raised his shares in the bank to 70.9 million shares from 25.9 million a year earlier.
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