Sterling Financial Holdings Director Buys N160.6 Million in Shares, Signaling Strong Confidence.
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In a major vote of confidence, Abubakar Suleiman, a non-executive director at Sterling Financial Holdings, has significantly increased his stake in the company. In a single transaction on August 6, 2025, Suleiman purchased a massive 19.68 million shares, worth a total of N160.6 million.
This wasn’t an isolated event. This purchase is part of a trend of insider buying at the company, with two other key executives also making significant share purchases in August. This wave of acquisitions by top management is likely a direct response to Sterling’s outstanding first-half performance in 2025.
Key Highlights of the Insider Trading
Who: Abubakar Suleiman, a non-executive director.
What: Acquired 19.68 million shares.
How Much: The transaction was valued at N160.6 million, with each share purchased at N8.16.
The Impact: This purchase boosts Suleiman’s total shareholding to 600 million units, which is 1.15% of the company’s total shares. He is now the second-largest director shareholder.
Suleiman’s move follows two other notable purchases: Temitayo Adegoke, the Chief Operating Officer, bought 5.7 million shares, and Seven Degrees North Limited, an indirect shareholder, acquired 20.8 million units.
Why Are Insiders Buying? The Numbers Tell the Story
The reason for this surge in insider interest is clear when you look at the company’s recent financial results. Sterling Financial Holdings delivered a stellar performance in the first half of 2025, far exceeding its results from the previous year.
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Profit Soars: The company’s pre-tax profit skyrocketed to N45.5 billion, a massive jump from N17.3 billion in the first half of 2024.
Income Growth: This impressive growth was fueled by a surge in interest income, which increased by 38.29% to N167.1 billion. Net interest income almost doubled, reaching N97.4 billion.
Balance Sheet Expansion: The company’s total assets also expanded, growing to N4.08 trillion, and its retained earnings increased by 51.54%.
These strong fundamentals have not only attracted insider buying but have also boosted investor confidence on the Nigerian stock market.
A Bullish Run on the Stock Exchange
Sterling Financial Holdings is currently experiencing a strong bullish run. The stock, which opened the year at N5.60 and hovered around N5.70 until the end of June, has seen its price surge in July and early August.
This momentum has pushed the stock price well above the N7 mark, with a remarkable year-to-date performance of nearly 40%. The latest available data shows the share price at N7.80. This positive trend indicates that the market is responding favorably to the company’s strong financial health and positive outlook.
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