Sterling Group CEO, Bank MD acquire 164m additional shares

Yemi Odubiyi, Group CEO of Sterling Financial Holdings Company Plc (Sterling HoldCo), and Abubakar Suleiman, Non-Executive Director of the HoldCo and Managing Director/CEO of Sterling Bank Limited, have increased their equity in Sterling HoldCo with a year-end acquisition valued at N1.156 billion.

Both parties each acquired 164,000,000 ordinary shares at N7.05 per unit across two tranches on December 24 and December 29, 2025. Seven Degrees North Limited, linked to Yemi Odubiyi, purchased 82,000,000 shares worth N578.1m. Black Rising Ltd, related to Abubakar Suleiman, also acquired 82,000,000 shares worth N578.1m. The transactions were disclosed in a filing with the Nigerian Exchange Limited.

The Group leadership’s increased investment comes ahead of the regulatory confirmation of the company’s N88.1 billion Public Offer results, a capital raise designed to expand retail banking reach and scale its wealth management subsidiary, SterlingFi.

Odubiyi’s shareholding has climbed quickly over the past year, rising from 376,417,493 units in December 2024 to more than 811 million units by the end of 2025, reflecting a steady increase in his investment in the institution’s long-term outlook. With 52.1 billion units in outstanding share capital, Sterling HoldCo’s Chairman, Adeyemi Adeola, continues to hold the largest stake among board members at 12.256 billion units (23.52%), reinforcing the company’s tightly aligned leadership structure.

In August 2025, prior to the commencement of Sterling HoldCo’s public offer, Suleiman increased his stake in the Group with the purchase of 19,684,442 share units valued at N160.6 million. Temitayo Adegoke, the Chief Operating Officer of Sterling Bank, also acquired 5.7 million shares worth N39.4 million, while Seven Degrees North Limited made an indirect purchase of 20.8 million units valued at N141.5 million.

Sterling HoldCo’s shares have delivered more than 25% year-to-date returns, opening the year at N5.60, rallying to a peak of N7.80 in August 2025 after strong July (22.81%) and August (11.43%) market momentum, before settling at N7.05 at the end of the final trading day of 2025.