Prime Business Africa
In the first three months of 2026, majority investors in the Nigerian banking industry recorded a combined unrealised gain of N673.77 billion, according to Prime Business Africa’s (PBA) analysis of their investment performance.
The analysis, which covered 11 commercial banks listed on the Nigerian Exchange (NGX), also known as the stock market, showed that only one bank’s major investor recorded zero movement in investment value during the review period.
Join our WhatsApp ChannelThe banks covered are Fidelity Bank, Zenith Bank, Stanbic IBTC, Wema Bank, Guaranty Trust Holdings Company (GTCO), Access Holdings, Ecobank, United Bank for Africa (UBA), Sterling Financial Holdings Company Plc, First City Monument Bank (FCMB) and First HoldCo.
Six Majority Investors With Highest Investment Growth In Banking Sector In Q1 2026
Jim Ovia/Zenith Bank
Jim Ovia is the former chairman and non-executive director at Zenith Bank, where he holds 5.80 billion shares, which are split into direct shares of 4.14 billion and indirect shares of 1.65 billion.
The value of the shares were N374.17 billion as of January 2, however, the worth of Ovia’s investment in Zenith Bank significantly increased to N555.75 billion as of March 31, representing a gain of N181.57 billion.
Ovia’s investment value increased by 48.52 percent within three months after Zenith Bank’s share appreciated to N95.80 kobo, from N64.50 kobo during the review period, as equity traders were willing to pay N31.3 kobo more for a share of the lender.
Stanbic Africa Holdings/Stanbic IBTC
Stanbic Africa Holdings Limited (SAHL), a major investor in Stanbic IBTC and the only foreign substantial shareholder on this list, recorded a 33.1 percent growth in its investment in the financial institution.
The investment vehicle holds 10.88 billion shares in Stanbic IBTC, which was valued at N1.08 trillion at the start of this year, but went up to N1.44 trillion at the end of March, indicating Stanbic Africa gained N360.31 billion.
Stanbic IBTC, owned by South Africa-based Standard Bank Group, saw a surge in its investment following a N33.1 kobo increase in Stanbic IBTC’s share price, which soared from N100 on January 2 to N133.10 kobo on March 31.
Abolanle Matel-Okoh and Yewande Zaccheaus/Wema Bank
Abolanle Matel-Okoh and Yewande Zaccheaus are both non-executive directors in Wema Bank, where they jointly hold 11.87 billion shares, which appreciated by 25 percent in the first quarter.
Their investments, held through Neemtree Limited, was valued at N308.69 billion at the end of the quarter under review, compared to the N246.95 billion the shares were worth at the start of the period.
They gained N61.73 billion after huge demand for Wema Bank shares pushed the company’s share price up by N5.2 kobo during the period under review, from N26.80 kobo to N26 per share.
Segun Agbaje/GTCO
With over N20.35 kobo gained by Guaranty Trust Holdings Company share between January and March, the investment held by Segun Agbaje, the group chief executive officer (GCEO), appreciated by 22.04 percent
Agbaje, who holds 41.62 million shares in GTCO, split into 32.14 million direct shares and 9.48 million indirect shares, saw the value of his investment increase by N847.12 million as a result of the share price jump.
The value of investment held by the GCEO increased from N3.84 billion as of January 2 to N4.68 billion as of March 31, as the company’s share price skyrocketed from N92.30 kobo to N112.65 kobo during the same period.
A. Aig-Imoukhuede/Access Holdings
A. Aig-Imoukhuede, the chief executive officer of Access Holdings, took the fifth spot on the list of bank major investors with the fastest growing investment in Q1, after the lender’s share price soared by N2.85 kobo.
Access Holdings’ share price had started 2026 at N23 per share, however, demand for the financial institution’s shares led to the price skyrocketing to N25.85 kobo at the end of the first quarter.
Consequently, Aig-Imoukhuede’s investment in Access Holdings appreciated by 12.39 percent, representing a N14.24 billion gain in three months, as the worth of his shares increased from N114.95 billion to N129.2 billion.
Aig-Imoukhuede holds 4.99 billion shares in Access Holdings, which is split into direct shares of 178.84 million and indirect shares of 4.81 billion.
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Prime Business Africa is a business, economy and policy news platform founded in 2021 by veteran journalist and media scholar, Dr Marcel Mbamalu, after he left The Guardian as Editor.
Dr Mbamalu, who serves as Founder and Publisher, set up Prime Business Africa to deliver sharp, data-driven reporting on Nigeria’s markets, trade, investment, and governance trends for decision-makers, entrepreneurs, and policy leaders.
He also writes The Bottom Line, a backpage column for Punch Newspaper every Thursday.
Under his leadership, Prime Business Africa combines deep newsroom experience with a focus on accountability journalism, aiming to bridge information gaps between Africa’s private sector and the global economy.
