A total of about N1.12 billion worth of ordinary shares of United Bank for Africa were crossed on the floor of the Nigerian Exchange Limited by insiders in the bank on May 7, 2024.
Four of the buyers on the Board of Directors of UBA Plc were led by Muyiwa Akinyemi, Deputy Managing Director of the Bank, who spent N529.2 million to buy 20 million units of ordinary shares of the Bank.
An Executive Director of the Bank, Ugochukwu Nwaghodoh, bought 10 million shares of UBA at N26.22 per share for N262.2 million while Bili Odum, Group Coy Secretary of the Bank also spent N262.2 million to buy 10 million ordinary shares of the Bank on the floor of NGX Limited.
Abdulqadir Bello, Non-Executive Director of UBA Plc also acquired 2,336,281 units of shares at N26.8 per share for N62,612,330.8.
In all, the four directors spent a total of N1, 116,212,330.8
Also, eight relatives of the Chairman of the Board of Directors of UBA Plc, Tony Ememelu partook of the largesse with a total purchase standing at N548, 054 on the same day.
A breakdown showed that Elumelu Onyinye, bought 1,975 shares at N26.00 per share, totaling N51,350.
Others are Elumelu Toby, 2,305 shares at N26.00 per share, amounting to N59,930; Elumelu Ugochukwu, 1,972 shares at N26.00 per share, being N51,272; Elumelu Awele, 5,176 shares at N26.00 per share, being N134,576 and Elumelu Nneka, 2,100 shares at N26.00 per share, amounting to N54,600.
Elumelu Ogochukwu, Elumelu Onyekachukwu and Elumelu Ogechukwu invested N67, 964, N60, 450 and N67, 912 respectively.
All the transactions were executed on May 7, on the floor of the Nigerian Exchange Limited.
