Bowarol Investment Limited Acquires 4 Million Shares in FBN Holdings

Bowarol Investment Limited, a company associated with Adebowale Oyedeji, the Group Managing Director of FBN Holdings, has acquired 4 million units of the company’s shares. The shares were purchased at prices ranging from N28.00 to N28.20 per share on December 30 and 31, 2024, according to a January 8, 2025 notification of insider share dealings.

Breakdown of Share Acquisition

  • 250,000 shares at N28.00 per share.
  • 9,414 shares at N28.05 per share.
  • 1,782,100 shares at N28.10 per share.
  • 1,958,486 shares at N28.20 per share.

The total investment reflects the confidence of insider entities in the growth potential and performance of FBN Holdings, one of Nigeria’s leading financial services groups.

Adebowale Oyedeji’s Leadership

Adebowale Oyedeji was appointed Group Managing Director of FBN Holdings in October 2024, with his appointment taking effect on November 13, 2024, subject to the Central Bank of Nigeria’s approval and shareholder ratification at the company’s Annual General Meeting (AGM).

This transaction underscores Oyedeji’s vested interest in the success of the company, aligning his leadership with shareholder value creation.

Industry Context

The transaction follows ongoing activities in the Nigerian financial sector and reinforces market confidence in FBN Holdings, even amid concerns raised by shareholders over proposed corporate actions, including the reported N350 billion private placement.

Such insider share acquisitions typically signify strong internal belief in a company’s growth trajectory, positioning FBN Holdings for increased investor attention in the near term.

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