Zenith Bank Plc has revealed that its Staff Provident Fund, which consists of contributions from employees’ salaries, recently acquired 33,015,935 units of the bank’s shares valued at approximately N2.3 billion.
The disclosure was made in a director dealing notice submitted to the Nigerian Exchange (NGX) on November 11, 2025, and signed by the company secretary, Mr. Michael Osilama Otu.
According to the filing, the transactions were executed in nine tranches at an average price of N69.67 per share, under transaction ID 029200268F8M5Y1629. The purchases took place across three trading sessions on September 26, 29, and 30, 2025, at the NGX in Lagos.
However, the filing also revealed that on November 7, 2025, the fund sold 1,750,000 units of Zenith Bank shares at N59.98 per share, amounting to N104.97 million. The sale was likely carried out to meet employee benefit obligations.
The September purchase underscores how institutional funds, such as employee provident funds, can strategically invest in the equities market to generate long-term value and enhance employee financial security.
Zenith Bank’s latest financial statements show that for the nine months ended September 30, 2025, the bank spent N182 billion on personnel expenses, a 21% increase from N150.6 billion recorded in the corresponding period of 2024.
Analysts view the fund’s recent activity as a reflection of confidence in the bank’s long-term performance and its consistent dividend track record, which continues to attract both institutional and retail investors.
