Kessington Adebutu’s Wema Bank stake loses $2.73 million as naira depreciates
Adebutu’s holdings reflect broader economic challenges in Nigeria as Currency Depreciation Erases Gains Despite Wema Bank’s stock surge.
WEMA Bank
Kessington Adebutu gains $2.1 million from Wema Bank shares
Adebutu's stake surged by $3.26 million between Sept. 18 and Nov. 11, rising from $13.93 million to $17.19 million.
Wema Bank strengthens leadership with key executive appointments
Ajimisinmi and Bakare to drive strategic growth and innovation.
Kessington Adebutu gains $3.2 million from Wema Bank shares
Over the past 53 days, the market value of his stake has increased by N5.45 billion ($3.26 million), fueled by a robust stock performance on the NGX.
Wema Bank backed by Kessington Adebutu secures approval to raise $26.3 million
The Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC) have approved the bank’s $26.3 million rights issue.
Nigerian gambling magnate Kessington Adebutu loses $2.8 million on Wema Bank shares
This comes after a surge in the market value of his stake in Wema Bank between May 1 and 7, when it increased by N6.01 billion ($4.35 million)
Bank backed by Nigerian gambling magnate Kessington Adebutu seeks $145-million capital raise
Adebutu, founder of Premier Lotto Limited, Nigeria’s oldest gaming company, owns a significant stake (28.09 percent) in Wema Bank.
Nigerian gambling magnate Kessington Adebutu faces $4-million loss in Wema Bank shares
This recent setback follows a surge in his fortune between March 8 and March 20, when his stake in Wema Bank increased by $2.3 million.
Wema Bank backed by Nigerian gambling magnate hit by over $500,000 fraud loss
The bank’s annual report revealed N685.59 million ($593,000) in fraud losses during the year.
Nigerian gambling magnate-backed bank posts $27.2-million profit in 2023
Its profits skyrocketed by 217 percent, leaping from N11.35 billion ($8.52 million) in 2022 to N35.99 billion ($27.2 million).
Nigerian gambling magnate Kessington Adebutu makes $2.3 million from Wema Bank stake
This surge not only reaffirms Adebutu’s status as one of the wealthiest investors on the NGX but also underscores Wema Bank’s pivotal role in Nigeria’s financial landscape.
Nigerian gambling magnate Kessington Adebutu makes $26 million from Wema Bank
Adebutu owns a 28.09-percent stake in Wema Bank through Neemtree Limited.
Nigerian gambling magnate Kessington Adebutu gains $7.2 million in first week of 2024
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).
Nigerian gambling magnate Kessington Adebutu gains $3.7 million from Wema Bank stake
Adebutu, the founder of Nigeria’s oldest gaming company, Premier Lotto Limited, owns a 28.09-percent stake in Wema Bank through Neemtree Limited.
Wema Bank stock decline results in $3.7-million loss for Nigerian gambling magnate
Adebutu, the founder and CEO of Nigeria’s oldest and leading gaming company, Premier Lotto Limited, owns a 28.15-percent stake in Wema Bank.
Nigerian gambling magnate loses $4 million from Wema Bank investment
Adebutu, the founder and CEO of Nigeria’s oldest and leading gaming company, Premier Lotto, holds a 28.15-percent stake in Wema Bank.