The Chairman of Mutual Benefits Assurance Plc, Akinade Ogunbiyi, has reduced his shareholding in the company following the sale of 850,000 ordinary shares, according to an insider trading disclosure filed with the Nigerian Exchange Limited.
The disclosure indicated that Ogunbiyi, a substantial shareholder, trimmed his stake while remaining one of the company’s key shareholders.
The PUNCH reports that as of 30 September 2025, Ogunbiyi held 1,100,000,024 units of Mutual Benefits Assurance shares, representing 5.48 per cent of the company’s issued share capital. This is the same percentage holding as at 31 December 2024.
The unaudited consolidated and separate financial statements of Mutual Benefits Assurance Plc for the period ended 30 September 2025 showed that the company’s issued share capital stood at 20,061,622,397 units. The shareholding structure also indicated that substantial shareholders collectively held 76.86 per cent of the company’s shares as at 30 September 2025, unchanged from the position at the end of 2024.
The insider trading disclosure further showed that Ogunbiyi, a non-executive director, sold the shares at prices ranging between N3.97 and N4.18 per unit between 9 and 12 January in Lagos. The deal is worth between N3.37m and N3.55m.
This divestment took place weeks after another significant shareholder, Charks Investment Limited, with common directors and shareholders as Mutual Benefits Assurance, sold a total of 2,989,733 ordinary shares of the company in early December. The transaction was carried out at prices ranging between N3.06k and N3.10k per share.
Mutual Benefits Assurance shares, in the last seven trading sessions, traded as high as N4.38 and as low as N3.98 per unit. At the close of trading on Friday, the company’s shares stood at N4.29 per unit, with a market capitalisation of over N86.06bn.
The company is currently observing a closed period pending the outcome of the meeting of its board of directors scheduled for 28 January 2026, to consider and approve the Group Management Financial Statements for the fourth quarter ended 31 December 2025.
The closed period declared from 1 January 2026 will remain in place until 24 hours after the release of the 2025 Q4 unaudited financial statement and the audited financial statements for the year ended 31 December 2025 to the NGX and, by extension, the investing public.
