United Bank for Africa (UBA) Plc on Tuesday disclosed insider dealings of 1,811,961 shares in line with the new Nigerian Exchange Limited policy.
In eight separate filings with the Nigerian Exchange Limited and signed by the company secretary, Bili A. Odum, the Board Chairman, UBA, Tony Elumelu and relatives increased stake in the foremost lender in a move that suggested confidence in the lender’s future and an opportunity to increase the Elumelu family’s stake in one of Africa’s largest banks.
The transactions were in multiple tranches between Thursday, April 8, 2021, and Friday, April 16, 2021.
| Date of Transaction | Name | Aggregated Volume | Price (NGN) | Total |
| Friday, April 16, 2021 | Ugochukwu Elumelu | 244,966 | 6.90 | 1,690,265.40 |
| Tuesday, April 20, 2021 | Toby Onyemaechi Elumelu | 36,016 | 7.10 | 255,713.60 |
| Thursday & Friday, April 8 & 9, 2021 | Tiffany Ogochukwu Elumelu | 296,043 | 7.00 | 2,072,301.00 |
| Thursday & Friday, April 8 & 9, 2021 | Tony Onyekachukwu Elumelu | 36,529 | 7.00 | 255,703.00 |
| Thursday & Friday, April 8 & 9, 2021 | Tamara-Marie Ogechukwu Elumelu | 296,409 | 7.00 | 2,074,863.00 |
| Thursday & Friday, April 8 & 9, 2021 | Awele Vivien Elumelu | 412,642 | 7.00 | 2,888,494.00 |
| Thursday & Friday, April 8 & 9, 2021 | Nneka Elumelu | 245,457 | 7.00 | 1,718,199.00 |
| Thursday & Friday, April 8 & 9, 2021 | Onyinyechukwu Elumelu | 243,899 | 7.00 | 1,707,293.00 |
| 1,811,961 | 7.00 | 12,662,832.00 |
Previous acquisitions by the Tony Elumelu’s family…
Similar to the recent transaction, Tony Elumelu and his family made share purchases on September 22, 2020 (see transaction details below).
Awele Elumelu
- 156,097 shares at N5.9999 per share
Nneka Elumelu
- 106,464 shares N6.0 per share
Ogechukwu Elumelu
- 361,323 shares at N6.0 per share
Onyinye Elumelu
- 107,250 shares at N6.0 per share
Toby Onyemaechi Elumelu
- Purchased UBA shares in two transactions, 7,460 shares and 7,452 shares at N6.0 per share.
Tony O. Elumelu, CON, the Board Chairman of UBA
- Purchased 4,817,855 shares at N5.9999 per share.