Prime Business AfricaOver N372.57 billion was made by Tony Elumelu, Jim Ovia, Segun Agbaje, Nneka Onyeali-Ikpe, Abolanle Matel-Okoh, Stanbic Africa Holdings, and Police Cooperatives Society Ltd between January and June 2025.
The six investors were the only majority shareholders who recorded a growth in the value of their investment, according to analysis by Prime Business Africa.
Join our WhatsApp ChannelAnalysis showed that the six majority shareholders accounted for a combined investment value of N979.69 billion on January 2, however, it grew to N1.35 trillion on June 30.
Majority shareholders whose investments increased
Tony Elumelu
The chairman of United Bank for Africa (UBA), Tony Elumelu, is the majority shareholder of the lender with 2.54 billion shares or a 6.19 percent stake.
Findings showed that the shares held by Elumelu were valued at N86.95 billion as of the beginning of the first quarter, but grew to N90 billion at the end of the second quarter.
Elumelu saw his investment increase by N3.05 billion after UBA’s share value appreciated by 3.50 percent or N1.2 kobo, from N34.20 kobo per share to N35.40 kobo.
Jim Ovia
With 5.08 billion shares or 12.37 percent stake, Jim Ovia is the majority shareholder of Zenith Bank, where he also serves as the financial institution’s chairman.
The shares, held through Institutional investors Ltd, Lurot Burca Ltd, Jovis Nigeria Ltd, Veritas Registars Ltd, and Quantum Zenith Securities Ltd, were valued at N289.46 billion as of January 2.
However, as of January 2, the investor’s shares were valued at N233,04 billion, reflecting Ovia’s investment in Zenith Bank increased by N56.41 billion or 24.20 percent in the first six months of this year.
Ovia’s investment grew due to Zenith Bank’s share price closing the first half of 2025 at N56.95 kobo, compared to the N45.85 kobo the company’s shares were trading at the start of the same period.
Segun Agbaje
A 42.54 percent or N24.25 kobo increase in the share price of Guaranty Trust Holding Company (GTCO) earned the company’s group chief executive officer, Segun Agbaje, N33.85 billion between January and June.
According to data from the Nigerian Exchange Limited (NGX), GTCO’s share price had increased from N57 to N81.25 kobo per share during the period under review.
The increase resulted in Segun Agbaje’s investment (1.39 billion shares) in GTCO to rise from N79,57 billion on January 2 to N113,42 billion on June 30.
Nneka Onyeali-Ikpe
Nneka Onyeali-Ikpe, the managing director and chief executive officer (CEO) of Fidelity Bank, holds 112,64 million shares or a 0.22 percent stake in the lender.
The value of her investment in Fidelity Bank soared to N2,25 billion at the end of the second quarter, up from N1,91 billion recorded at the start of the first quarter, representing a gain of N337.93 million.
It was gathered that Onyeali-Ikpe’s investment appreciated by 17.64 percent within six months after Fidelity Bank’s share gained N3 to jump from N17 to N20.
Abolanle Matel-Okoh
Abolanle Matel-Okoh holds 972.66 million direct shares in Wema Bank and 6.05 billion indirect shares, alongside Yewande Zaccheaus, in the lender.
The direct and indirect shares were valued at N63.97 billion as of January 2, however, their combined value increased to N105.09 billion on June 30, reflecting a N41.12 billion gain.
Prime Business Africa gathered that this was driven by a 64.28 percent or N5.85 kobo gain recorded by Wema Bank’s share price, which rose from N9.10 kobo to N14.95 kobo.
Stanbic Africa Holdings
Stanbic Africa Holdings, an investment firm owned by a South African company Standard Bank Group, account for a 67.55 percent stake in Stanbic IBTC, where it holds 8.75 billion shares.
The shares were worth N507.66 billion at the start of the year, but their value grew to NN743,99 billion at the end of June, indicating the company recorded a gain of N236.32 billion within six months.
This was driven by a 46.55 percent growth in Stanbic IBTC’s share price, which increased from N58 per share to N85 between January and June.
Police Cooperatives Society Ltd
The Police Cooperatives Society Ltd gained N1.46 billion in the first six weeks of this year, as the value of its investment in NPF Microfinance Bank grew from N6.56 billion to N8.03 billion.
The majority shareholder, which holds a 62.63 percent stake or 3.75 billion shares in Police Cooperatives Society, recorded the gain after NPF Microfinance Bank’s share value appreciated by 22.28 percent.
NPF Microfinance Bank’s share price increased from N1.75 kobo to N2.14 kobo, as bullish sentiments among stock market investors added N0.39 kobo to the cost of the share.
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