Financial services conglomerate United Capital Plc has notified the Nigerian Exchange Limited (NGX) and the investing public of an insider share transaction involving a member of its Internal Control department.
The disclosure was made pursuant to Chapter 17 of the NGX Issuer Rules, which requires listed companies to report transactions conducted by Persons Discharging Managerial Responsibilities and their closely associated persons within two business days.
The corporate announcement was released on Wednesday and signed by United Capital Company Secretary, Leo Okafor.
According to the regulatory filing, Oyebode Bayonle, a staff member in the company’s Internal Control unit, sold ordinary shares held in United Capital.
The transaction was classified as an initial notification of insider dealing and was executed on the trading floor of the NGX on Tuesday.
The filing showed that Bayonle sold 3,651 United Capital ordinary shares at N17.85 per share.
The transaction was valued at N65,170.35.
Insider transaction disclosures are an important part of corporate governance and market transparency on the Nigerian Exchange.
While directors and eligible employees can trade in their companies’ securities outside designated closed periods, mandatory disclosures enable investors and regulators to monitor insider activity and support market integrity.
The disclosure does not indicate the reason for Bayonle’s sale or suggest that the transaction was linked to any specific corporate development.
United Capital, chaired by Uche Ike and led by Group Chief Executive Officer Peter Ashade, said the company remains committed to complying with applicable regulatory requirements.
The financial services group said it would continue to uphold its compliance protocols in line with Securities and Exchange Commission guidelines.
The transaction adds to the routine stream of insider dealing disclosures made by companies listed on the NGX as part of the exchange’s broader framework for transparency and investor protection.
