FBN GMD, UK Eke’s Shares Grow To 102.372m Units
The Group Managing Director of First Bank of Nigeria Holdings, UK Eke has increased his FBN shareholding rights to 102.372 million units of shares following a fresh purchase.
Eke, the incumbent GMD of the Holdings bought two tranches of the bank shares to grow his stakes to a total of 102,372,773 units.
According to the lender’s disclosure at the Nigerian Exchange Limited (NGX) on Tuesday, Eke bought the first tranche of 12,000,000 units of Shares at N7.14 Kobo per share and another at 5,104,359 units of shares at N7.07 kobo per share, with a total transaction of 17,104,359 at an average price of N7.11 Kobo per share.
.Prior to the latest transaction, his total shares according to the Financial statement for the year ended 31st December 2020 was at 85,268,414 units of shares.
However, Eke is still behind the majority shareholder of the financial institution, Oba Otudeko, who was recently ousted as board chairman by the Central Bank of Nigeria over corporate governance infringement.
Oba Otudeko has a direct shareholding right of 5,895, 264 units of shares and indirect stakes of 532,075,839 units of shares.
UK Eke, was appointed the Group Managing Director (GMD), FBN Holdings Plc on January 1, 2016. Having joined the Board of FBN Holdings Company, in 2011 as Executive Director, Public Sector South and later became Executive Director, South.
According to First Bank, his sound managerial and motivational skills, coupled with his vast experience, helped develop FirstBank’s businesses within the Public Sector, Retail and Private Banking Groups.
He currently sits on the boards of First Bank of Nigeria Limited and FBNQuest Merchant Bank Limited as a Non-Executive Director.
In 2017, he was appointed to the board of Nigeria Sovereign Investment Authority (Sovereign Wealth Fund).
He was Executive Director, Regional Business, Lagos & West, Diamond Bank Plc. His other work experience includes Deloitte Haskins & Sells International where he rose to the position of Audit Senior. He has 35 years experience in financial services, strategy, auditing, consulting, taxation, process re-engineering and capital market operations.
UK, is a Fellow of the Institute of Management Consultants, Fellow of the Institute of Directors, and Fellow of the Institute of Chartered Accountants of Nigeria, holds a first degree in Political Science (University of Lagos) and an MBA in Project Management Technology (Federal University of Technology, Owerri).
He has attended several Executive Management and Board training programs at Harvard Business School, Stanford Business School, IESE Barcelona, China European International Business School Shanghai, China, International Institute for Management and Development Lausanne, Switzerland, Wharton Business School and Lagos Business School.
A philanthropist and mentor to many, he is the Founder and Chairman, Elder K.U. Eke Memorial Foundation. He is a Patron, Lagos State Council, Boys’ Brigade Nigeria and a Paul Harris Fellow of The Rotary Club International.
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