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UBA Director Buys Two Million Bank Shares

Ugochukwu Nwaghodoh, the United Bank for Africa’s Executive Director for Risk Management and Finance, has acquired two million shares of the bank.

This information was provided in a corporate filing made on Monday with the Nigerian Exchange Limited.

Ugochukwu Nwaghodoh purchased the shares in four separate transactions, for a total of 319,359 units at NGN8.15, 200,000 units at NGN8.20, 1,200,000 units at NGN8.20, and 280,641 units at NGN8.25.

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UBA Gets New Female CEO For Africa

The transaction, which has a value of over N16 million, happened on Friday on the NGX’s trading floor in Lagos.

Ugochukwu Nwaghodoh possessed 5,399,816 units of the group’s shares directly, according to UBA’s 2022 financial reports. His holdings have increased to 7,399,816 units as a result of his recent transaction.

Recall that Tony Elumelu, a billionaire investor and founder of HH Capital, purchased 70 million shares in United Bank for Africa, where he serves as chairman of the board.

Elumelu held personally 194,669,555 units of UBA shares as of December 2022 and indirectly 2,185,934,184 through HH Capital Limited (140,843,816), Heirs Holdings Limited (1,814,003,900), and Heirs Alliance Limited (231,086,468 units).

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