The Chairman of Zenith Bank, Jim Ovia, has acquired five million units of the shares of the financial institution in a deal worth over N144m.

This was disclosed in a notice on insider trading signed by the company secretary, Michael Otu, on Thursday.

It was revealed that Ovia bought the shares in ten different transactions on the floor of the Nigerian Exchange Limited on Wednesday.

The average price he paid for the shares was N28.91.

In its 2022 financial reports, Ovia held 11.29 per cent of the shares of the lender. He was also the only one with more than five per cent holding in the bank. He held 3,546,199,395.

Indirectly, he held 1,523,928,375 units of shares via Institutional Investors Ltd, Lurot Burca Ltd, Jovis Nigeria Ltd, Veritas Registars Ltd, and Quantum Zenith Securities Ltd.

With his latest acquisition, Ovia has boosted his holdings and strengthened his control in the financial institution.

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