Anil Dua, a non-executive director of First Bank of Nigeria Limited, has acquired ₦307.17 million worth of shares in First HoldCo Plc, reinforcing insider confidence in one of Nigeria’s oldest and most systemically important financial groups.
In a Notification of Share Dealing by Insiders dated 19 December 2025, First HoldCo disclosed that Dua purchased 6,703,900 ordinary shares at ₦45.82 per share on the Nigerian Exchange Limited (NGX)
The transaction was executed in Lagos and classified as an initial notification, in line with NGX and regulatory disclosure requirements.
At the disclosed price, the purchase values the transaction at approximately ₦307.17 million, making it one of the more substantial insider acquisitions reported by the group in recent months.
Who is Anil Dua?
Anil Dua is a seasoned international banking executive with decades of experience across emerging and frontier markets, particularly in Africa, the Middle East, and South Asia. He currently serves as a Non-Executive Director of First Bank of Nigeria Limited, the flagship banking subsidiary of First HoldCo Plc.
Over the course of his career, Dua has held senior leadership and board-level roles in global financial institutions, with deep exposure to corporate banking, risk management, capital allocation, and balance-sheet restructuring in complex regulatory environments. He is widely regarded as a banker with strong grounding in governance, credit discipline, and institutional reform, skills that are especially valued in large, systemically important banks.
His presence on the First Bank board is part of the group’s broader effort to strengthen governance depth, international perspective, and risk oversight, particularly as Nigerian banks adapt to tighter regulation, evolving capital requirements, and a more volatile macroeconomic environment.
Why the transaction matters
Insider purchases by non-executive directors are closely scrutinised by the market because they often signal personal conviction in a company’s long-term strategy and valuation, rather than short-term trading intent. Unlike executive directors, non-executive directors are not involved in day-to-day management, making their capital commitments especially notable from a governance and confidence standpoint.
First HoldCo Plc, the holding company for First Bank of Nigeria, operates across commercial banking, asset management, insurance, and other financial services. In recent periods, the group has emphasised balance-sheet resilience, tighter risk controls, and improved market confidence, following leadership changes and renewed regulatory focus on governance standards within Nigeria’s banking sector.
The disclosure was signed by Abiola Baruwa, Group Company Secretary of First HoldCo Plc, in compliance with NGX rules on transparency and insider dealings.