Abubakar Suleiman, the CEO of Sterling Bank, recently purchased 50 million shares of Sterling Financial Holdings Company Plc in a transaction valued at N168 million.

The disclosure of this acquisition was made in a corporate notice on directors’ dealings, which was filed with the Nigerian Exchange Limited.

Suleiman, who also serves as a non-executive director of the HoldCo, made the purchase on the NGX trading floor at a rate of N3.36 per share.

Before this latest purchase, Suleiman already held a direct 0.91 percent stake in the company, which amounted to 262,668,608 shares.

With the acquisition of the additional 50 million shares, his total stake in the company has now increased to 312,668,608 share units, as stated in Sterling FHC’s half-year report.