Nigerian Lawyer Asue Ighodalo has acquired 2,250,000 shares in Nigerian Breweries, West Africa’s largest publicly traded beverage company.
This was contained in a notice of share dealing by an insider to the Nigerian Exchange Limited obtained by Billionaires.Africa.
The 2,250,000 shares Ighodalo acquired represent 0.02 percent of the company’s total outstanding shares.
The lawyer spent NGN92.9-million ($199,300) acquiring the shares at an average of NGN 43.1 ($0.09) per share.
Ighodalo has served on the board of Nigerian Breweries since Jan. 1, 2022. In April, he was appointed as the chairman of the board. The appointment became effective from May 1.
Ighodalo, 63, is one of Nigeria’s most successful commercial lawyers.
He co-founded Banwo & Ighodalo in 1991 and has built it into one of Nigeria’s top three commercial law firms.
Ighodalo also serves as the chairman of publicly traded Sterling Bank Plc and Dangote Flour Mills Plc. He is on the boards of Ensure Assurance Company Plc, Levene Energy, Okomu Oil Palm Company Plc, CardinalStone Partners Limited, Global Mix Limited, Mainstreet Technologies Limited, the Christopher Kolade Foundation, and the Fate Foundation.
He is also the immediate past chairman of the Nigerian Economic Summit Group, a non-profit, non-partisan private sector organization with a mandate to promote and champion the reform of the Nigerian economy into a modern, globally competitive, sustainable, inclusive, open economy.
Nigerian Breweries is the largest brewing company in Nigeria. It engages in brewing, marketing, and selling lager, stout, non-alcoholic malt, and soft drinks in Nigeria and West Africa.