Insider-linked entities associated with Abubakar Suleiman and Yemi Odubiyi have acquired ₦578.1 million worth of shares in Sterling Financial Holdings Company Plc, according to notifications filed with the Nigerian Exchange Limited (NGX).
The disclosures show that Seven Degrees North Limited, an entity related to Yemi Odubiyi, the Group Managing Director and Chief Executive Officer of Sterling Financial Holdings, and Black Rising Ltd, an entity related to Abubakar Suleiman, a Non-Executive Director of the company, executed the share purchases in late December.
According to the filings, the two entities jointly acquired 82 million ordinary shares at a price of ₦7.05 per share, translating to an aggregate transaction value of ₦578.1 million.
The purchases were executed in two tranches on 24 December and 29 December 2025.
All the transactions were carried out on the Nigerian Exchange platform in Lagos and were disclosed in line with NGX Issuers’ Rules on dealings by directors and persons closely associated with them.
Under NGX regulations, listed companies are required to notify the Exchange and the investing public of transactions involving directors and related parties to enhance transparency and allow investors to independently assess insider activity.
Sterling Financial Holdings Company Plc is the holding company of Sterling Bank and its non-bank subsidiaries and remains subject to continuous disclosure requirements as part of Nigeria’s regulated capital market framework.