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"Richest Banker": Data Shows How Zenith Bank Owner Jim Ovia Made Over N9bn in Just 5 Days
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"Richest Banker": Data Shows How Zenith Bank Owner Jim Ovia Made Over N9bn in Just 5 Days

by  Dave Ibemere 2 min read
  • Jim Ovia, owner of Zenith Bank, experienced a significant increase in his wealth, surpassing N9 billion in just 5 days.
  • This is thanks to the remarkable rise in Zenith Bank shares on the Nigerian Exchange
  • Ovia's newfound wealth solidifies his position as one of the wealthiest men in Nigeria, while also reflecting investors' confidence in the bank's operations

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Zenith Bank's Owner Jim Ovia wealth has increased by N9.37 billion in a span of five days from May 15, 2023, to May 19, 2023.

This surge was fueled by the bank's share price reaching its highest point in the past 65 days.

Zenith bank CEO Jim Ovia
Jim Ovia benefits from the rise in the Zenith Bank's share Photo credit: Investing.com
Source: Facebook

Data obtained from the Nigerian Exchange Limited (NGX) revealed that Zenith Bank's share price closed trading on Friday, May 20, 2023 at N26 per share.

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Meet Adobi Nwapa, woman who just spent N97 million buying Zenith Bank shares

This is a 7.66 percent rise when compared to 24.15 per share it opened the week on Monday, May 15, 2023.

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Checks further show that the last time Zenith Bank's share price rose to N26 was on Tuesday, March 7, 2023.

How Jim Ovia made over N9 billion in one week

As one of the major shareholders of Zenith Bank, Ovia holds 5.07 billion (5,070,127,770) shares in the bank as at the end of December 2022.

The surge in share prices within the period under review resulted in substantial growth in the value of his shareholdings.

At the beginning of the week(May 15), Ovia's total shares were valued at N122.44 billion, but by the end of the trading week(May 16), they had risen to N131.82 billion.

This represents a gain of N9.37 billion in just five days.

Read also

GTbank CEO Segun Agbaje makes over N267 million in 4 days as bank's shares soar

The increase in Ovia's wealth solidifies his position as one of the wealthiest individuals in Nigeria.

Elumelu's wife buys more Transcorp shares

In a similar report, Awele Elumelu, the wife of Tony Elumelu, has bought N6 billion worth of shares in Transcorp.

The investment makes her the third-largest shareholder, which helps the family have a firm grip on the company.

Transcorp Group is one of Nigeria's leading Conglomerates with investments in the hospitality, power, and oil & gas sectors.

Source: Legit.ng

Authors:
Dave Ibemere avatar

Dave Ibemere (Senior Business Editor) Dave Ibemere is a senior business editor at Legit.ng. He is a financial journalist with over a decade of experience in print and online media. He also holds a Master's degree from the University of Lagos. He is a member of the African Academy for Open-Source Investigation (AAOSI), the Nigerian Institute of Public Relations and other media think tank groups. He previously worked with The Guardian, BusinessDay, and headed the business desk at Ripples Nigeria. Email: dave.ibemere@corp.legit.ng.

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