Bank Stocks Rally as Ovia, Umeoji Acquire Shares Worth N3.3bn in One Day FirstHoldCo promises to exit forbearance in December, raising more questions
Nume Ekeghe and Kayode Tokede
Zenith Bank Plc’s founder and
Chairman, Mr. Jim Ovia, and the Group Managing Director/CEO, Dr. Adaora Umeoji, have significantly
increased their stake in the bank, acquiring shares worth over N3.3 billion between June 10 and June
18, 2025. This emerged as FirstHoldCo Plc’s announcement of its plan to exit
regulatory forbearance in December this year has stirred fresh concerns. Also, yesterday, the All-Share Index
(ASI) rose by 39 basis points in early Continued on page 9
World Bank, AfCFTA, Others Task Regulatory Agencies on Protection of Consumers in Nigeria’s Downstream Oil Sector... Page 9 Friday 20 June, 2025 Vol 30. No 11030. Price: N400
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