Omo! Na big gist be this one wey dey happen for Mutual Benefits Assurance Plc o! E no easy to see chairman wey dey sell im shares, but na wetin dey happen as Akinade Ogunbiyi don reduce him shareholding!
No be small matter, as e sell about 850,000 ordinary shares for market, according to wetin dem talk for the Nigerian Exchange Limited. But make I clear you, our oga still dey hold strong as one of the key shareholders wey dey carry this company matter for head.
As of September 30, 2025, Ogunbiyi still carry 1,100,000,024 units of shares for im pocket, wey dey equal 5.48% of the company share capital. E still dey hold the same amount wey e get since December 31, 2024. Na wetin una sabi say, insiders and big boys dey hold 76.86% of the shares, and e no change since last year, this one dey show say the company still dey stable for this wahala wey we dey face.
Now talk about the sale, Ogunbiyi sell the shares at price wey dey between N3.97 and N4.18 per unit from January 9 to January 12 for Lagos. E don make way about N3.37 million to N3.55 million from that matter. But wait small, another big shareholder wey get same common directors with Mutual Benefits, Charks Investment Limited, don sell plenty shares too, about 2,989,733 shares for price between N3.06 and N3.10k per share since early December.
As e be so, the shares of Mutual Benefits don dey move from N4.38 to N3.98 for the last seven days trading, and as today wan end, e dey stand at N4.29 per unit with market value wey pass N86.06 billion! No be just small money o!
The company dey follow due process now; dem don enter closed period as dem dey wait for what board of directors go talk on January 28, 2026. Dem go approve Group Management Financial Statements for the fourth quarter wey end on December 31, 2025. This close period don start since January 1, 2026, and e go remain so until 24 hours after dem release di financial statements.
Oluwakemi, wey be Senior Correspondent for The PUNCH, don dey gather this tori wey concern capital market for over 10 years. Make we dey follow am for this matter as e fit shine light on where the money dey!
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