Jaiz Bank director acquires shares worth N101.9m

By Kayode Tokede

Jaiz Bank Plc has notified the Nigerian Exchange Limited (NGX) that Alhaji Aminu Alhassan Dantata, a Non-Executive Director in the bank, has acquired 178,827,232 additional units of its shares, worth N101.9 million.

This is contained in a notice signed by the company’s secretary, Rukayat Oziama Dahiru, and forwarded to the NGX.

According to the disclosure, the transaction which took place on the 19th and 23rd of July, 2021 at the floor of the NGX, saw the director purchased additional 178.83 million shares at a price of 57 kobo per share. This put the total consideration for the shares purchased by the Non-Executive director at  101,931,522.24.

It is pertinent to note that the disclosure is in line with The Exchange’s policy on insider dealings. It is imperative because it helps to engender transparency and maintain public trust in the financial system. Trade by insiders, particularly purchases, often demonstrates confidence in the financial performance of the companies that they run.

As at June 2021, Alh. Aminu Alhassan Dantata holds about 1,565,210,516 units of Jaiz Bank shares, translating to about 5.31% of the total shareholding in the bank. The recent addition thereby raises his total shareholdings to 1,744,037,748 units.

Jaiz Bank closed trading on Wedensday at 60 kobo/share on the floor of the NGX.