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An insider at tier-one lender Zenith Bank has purchased 2 million shares in the bank at an average price of N17.18 per share.
Dennis Olisa an Executive Director at the bank made the purchase on September 15 for a total consideration of N34.36 million, according to a filing on the Nigerian Stock Exchange (NSE).
Zenith Bank trades at 0.54 times book value with a dividend yield of 16.47 percent.
The stock is considered a buy here at MoneyCentral and we believe investors should follow the smart money (Insiders).