A non-executive director of Sterling Financial Holdings Plc, Abubakar Suleiman, has increased his stakes in the group by 7,882,228 units.
Suleiman, who is also the chief executive officer of Sterling Bank, purchased the shares on Tuesday and Wednesday on the Nigerian Exchange Platform in Lagos, according to an insider trading notice filed with the Nigerian Exchange Limited on Thursday.
He bought the shares at the rate of N3.47 per unit, which brought the value of the deal to N27.351m.
Abubakar’s latest share acquisition came a few weeks after he had bought 50 million units of the lender’s shares in a deal worth N168m. He bought the shares at the rate of N3.36 per unit.
In its half-year report, Sterling FHC revealed that Suleiman held directly 0.91 per cent stake in the company amounting to 262,668,608 units of its entire shareholding.