The Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC) have approved the bank’s $26.3 million rights issue.
Kessington Adebutu
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This comes after a surge in the market value of his stake in Wema Bank between May 1 and 7, when it …
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Wema Bank has seen its share price surge 28.1 percent in recent weeks, climbing from N6.05 ($0.0044) on May 1 to N7.75 …
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This recent setback follows a surge in his fortune between March 8 and March 20, when his stake in Wema Bank increased …
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The bank’s annual report revealed N685.59 million ($593,000) in fraud losses during the year.
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Its profits skyrocketed by 217 percent, leaping from N11.35 billion ($8.52 million) in 2022 to N35.99 billion ($27.2 million).
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This surge not only reaffirms Adebutu’s status as one of the wealthiest investors on the NGX but also underscores Wema Bank’s pivotal …
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Financial loss forces delisting of Arbico, owned by Nigerian gambling magnate Kessington Adebutu
The company has engaged with regulatory authorities and stakeholders in the decision-making process and has initiated necessary procedures to ensure a smooth …
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Adebutu owns a 28.09-percent stake in Wema Bank through Neemtree Limited.
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In the first week of 2024, Wema Bank shares on the NGX rose by 33 percent from N5.55 ($0.006) to N7.38 ($0.008).