Ini Ebong, Deputy Managing Director of First Bank of Nigeria Limited, has purchased 12 million ordinary shares of First HoldCo Plc, in a transaction valued at approximately ₦533.6 million, according to a regulatory disclosure filed with the Nigerian Exchange.
A notification of insider dealing dated 22 December 2025 shows that Ebong acquired the shares at a price of ₦44.47 per share, with the transaction executed on 19 December 2025 on the Nigerian Exchange in Lagos.
The filing identifies the transaction as an initial notification and confirms Ebong’s status as a senior executive insider, in line with market disclosure requirements governing dealings by directors and key management personnel of listed companies.
Profile: Ini Ebong
Ini Ebong was appointed Deputy Managing Director of First Bank of Nigeria Limited in June 2024, a role he currently holds within the leadership of the bank’s executive management team. Prior to this appointment, he served as Executive Director, Treasury and International Banking from January 2022, following his tenure as Group Executive, Treasury and International Banking since 2016. Before that, he was Treasurer of FirstBank from 2011 to 2016.
Ebong brings nearly three decades of extensive banking experience spanning treasury, investment banking, finance, and banking operations to his leadership responsibilities. His professional career includes international market roles such as Head of African Fixed Income and Local Markets Trading at Renaissance Securities Nigeria Ltd, and senior positions with Citigroup in Nigeria, where he served as Country Treasurer and Head of Sales and Trading.
In his capacity as Deputy Managing Director, Ebong plays a central role in guiding First Bank’s strategic execution, balance-sheet management, and operational oversight at one of Nigeria’s largest and oldest financial institutions. His responsibilities encompass driving the bank’s market engagement, risk management frameworks, and growth strategies amid evolving regulatory expectations.
Ebong holds both Bachelor and Master of Science degrees in Architecture from the University of Ife (now Obafemi Awolowo University), and he remains actively involved in banking market development initiatives, including advisory and market education on foreign exchange, fixed income, and securities trading.
Market Context
First HoldCo Plc is the parent company of First Bank of Nigeria Limited and one of the country’s largest financial services groups by assets and customer base. Insider share purchases of this scale are often interpreted by market participants as a signal of management confidence in a company’s valuation, earnings outlook, or strategic direction—particularly during periods of macroeconomic uncertainty and evolving capital requirements for banks.
The disclosure was signed by Abiola Baruwa, Group Company Secretary of First HoldCo Plc, and formally lodged in accordance with Nigerian Exchange rules on transparency and market integrity
