Kelechukwu Mgboji 
…ups stake with N160.6m share purchase
In a move that underscores deepening insider confidence in the financial trajectory of Sterling Financial Holdings, Abubakar Suleiman, a Non-Executive Director of the company, has acquired an additional 19.68 million shares valued at N160.6 million. The transaction, executed on August 6, 2025, at a unit price of M8.16 per share, was disclosed in a regulatory filing on the Nigerian Exchange.
This latest purchase raises Suleiman’s total shareholding to 600 million units—up from 580.3 million—representing 1.15 per cent of Sterling’s total issued shares. He now ranks as the secondlargest director-shareholder, trailing only Yemi Odubiyi, who holds 707.9 million shares, or 1.36 per cent of the company Suleiman’s acquisition is the latest in a string of insider transactions that have followed the release of Sterling’s impressive half-year results for 2025.
Two other significant transactions were also recorded in early August: Temitayo Adegoke, Chief Operating Officer, acquired 5.7 million shares worth N39.4 million, while Seven Degrees North Limited made an indirect purchase of 20.8 million shares valued at N141.5 million.
Market analysts view the wave of insider buying as a clear signal of confidence in Sterling’s long-term fundamentals and value proposition, particularly after the group delivered a stellar first-half performance. Sterling Financial Holdings posted a pre-tax profit of N45.5 billion for H1 2025, surging 163 per cent from N17.3 billion in the corresponding period of 2024.
The performance was anchored by a 38.3 per cent rise in interest income, which rose to N167.1 billion from N120.8 billion. Interest from loans and advances to customers formed the bulk of this at N115.4 billion, reflecting deepening credit penetration and asset utilisation. Importantly, interest expense rose modestly by just 10.2 per cent to N69.7 billion, enabling net interest income to nearly double year-on-year to N97.4 billion.
