The Chief Risk Officer of First Bank of Nigeria Olusegun Alebiosu, has purchased 1.36 million new shares of FBN Holdings, according to a filing on the Nigerian Stock Exchange (NSE).
Alebiosu bought the shares at an average price of N5.05 per share for a total value of N6.7 million.
This is perhaps one of the more bullish insider purchases we have seen since we began tracking them.
A Chief Risk Officer is expected to know the core happenings in a business and the purchase is a vote of confidence on FBN Holdings outlook.