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Tuesday, March 28, 2023

Zenith CEO Spends N80.38mn to Buy New Shares in the Bank

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The Group Managing Director/Chief Executive Officer (CEO) of Zenith Bank plc, Ebenezer Onyeagwu has just spent N80.38 million in buying new shares in the bank.

Onyeagwu purchased 3,297, 238 shares at an average price of N24.38 per share, according to a disclosure on the Nigerian Exchange Group (NGX) dated 25th November, 2021.

Insider share purchases are usually regarded as bullish by analysts and may suggest there is room for upside in the purchased stock.

Zenith Bank shares have underperformed the broader market so far this year, and are down 1.41 percent year to date (Thursday Nov 25th). This compares to a 7.05 percent gain in the NGX all share index.

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