The Nigerian Exchange Limited, at the weekend, provided details of the 5,076,923,077 ordinary shares of Jaiz Bank Plc admitted on its Daily Official List Monday, October 4, 2021, raising its total issued and fully paid-up shares from 29,464,249,300 to 34,541,172,377 units.  

The additional shares listed, the NGX noted, arose from the private placement to Alhaji (Dr.) Muhammadu Indimi at N0.65 per share, in addition to his pre-placement stake of 3,233,813,044 ordinary shares, bringing his cumulative holding to 8,310,736,121 shares, or 24.06% of the new shares in issue. This makes him the single largest shareholder, followed by Dr. Aminu Alhassan Dantata’s 5,469,679,843 shares (held directly and indirectly through Dantata Investments & Securities Company Ltd) represents 15.84%; while Alh. Dr. Umar Abdul Mutallab, four billion units now account for 11.58%. The trio together holds 51.47% of the bank’s shares.

Other significant shareholders, according to the audited financial report and account for the year ended December 31, 2020, are Mohammed Seedy Njie, representing the Islamic Development Bank’s 2,506,666,588 ordinary shares; Alh. Muktar Sani Hanga, Dangote Industries Ltd’s 2.5bn units; Alhaji Dr. Umar Kwairanga’s 2.395bn shares held directly and indirectly (through Finmal Finance Serv. Ltd and Linear Power Ltd).    

Also last week, the NGX announced the lifting of the suspension placed on trading in the shares of African Alliance Insurance Plc and Royal Exchange Plc, two of the four listed companies suspended on July 2, 2021 “for non-compliance with the provisions of Rule 3.1: Rules for Filing of Accounts and Treatment of Default Filing, Rulebook of The Exchange (Issuers’ Rules) (Default Filing Rules).”

Trading in the companies’ shares was suspended for not filing their Audited Financial Statements for the year ended December 31, 2020, and Unaudited Financial Statements for the quarter ended March 31, 2021.

The suspension of trading in the shares of both companies, the exchange explained, has been lifted following the “submission of the relevant accounts.”