Nigeria, May 6 -- The chief executive of United Bank for Africa (UBA), Oliver Alawuba, and three other directors at the financial institution purchased shares cumulatively worth N658 million in various deals in the last one week. All the shares purchased by the directors between 30 April and 2 May came to 18.8 million units, according to regulatory filings at the Nigerian Exchange Limited.

That comes as the top bankers apparently position ahead of a half-year dividend due later this year as their increased stakes are on track to hand them bigger cash rewards, compared to the same period of 2024, all things being equal. Mr Alawuba who, as of last year, held 111 million shares in the lender, according to its latest audited annual report, a...