Sterling Bank CEO increases stake by 50 million shares

The Chief Executive Officer of Sterling Bank, Abubakar Suleiman, has acquired 50 million units of the shares of Sterling Financial Holdings Company Plc in a deal worth N168m.

This was disclosed in a corporate notice on directors dealing which was filed with the Nigerian Exchange Limited on Friday.

Suleiman, a non-executive director of the HoldCo, had bought the shares on the floor of the NGX on Thursday 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. With his latest acquisition, the bank’s managing director had increased his stake to 312,668,608 share units