Onyeagwu tightens control on Zenith Bank with N144.2m shares

The Chief Executive Officer of Zenith Bank, Ebenezer Onyeagwu, on Wednesday invested N32.2 million to acquire 1.4 million ordinary shares in the lender.

He made the investment in two tranches.

In the first investment, Onyeagwu acquired 400,000 ordinary shares at N23 per share while he bought another one million shares at N23 per share.

The CEO had also invested N112 million to acquire five million ordinary shares in Zenith Bank in March.

He made five rounds of acquisition with the first being two million shares at N22.25kobo per share and another purchase of one million shares at N22.30kobo per share.

Other investments include 1.5 million units at N22.60kobo per share and 500,000 units at N22.65kobo per share.

These increased the total number of shares acquired by Onyeagwu in the last three months to 6.9 million and valued at N144.2 million.