BY NKECHI NAECHE-ESEZOBOR—Chairman Mutual Benefits Assurance Plc, Dr. Akinade Akanmu Ogunbiyi,has reduced its stake in the company following the sale of 850,000 ordinary shares.
The company disclosed this in an insider dealing notification to Nigerian Exchange Group and investing public on Friday.
The transaction, according to the company’s notice was executed in line with regulatory requirements and provides investors with insight into changes in the company’s ownership structure.
The shares were sold at prices ranging between ₦3.97 and ₦4.18 per share, resulting in a total transaction value of approximately ₦3.37 million to ₦3.55 million.
It added that the disclosure represents an initial notification in compliance with regulatory requirements on insider dealings.
The company noted that the transaction was carried out to ensure transparency for investors and the wider market.
As at the close of business on January 16, 2026, the company has shown strong momentum, with its stock performance in early 2026 reflecting a 36.8% gain since the start of the year.
The stock entered the NGX Insurance Index in January 2026, signaling a positive market outlook.
Its closed at 4.24 NGN on January 15, 2026, after a 3.2% drop from 4.38 NGN, but maintaining high growth.
Performance: The stock gained 36.8% Year-to-Date (YTD) to start 2026.
Market Position: Ranked as the 24th most traded stock on the Nigerian Exchange (NGX) over the three months leading to January 15, 2026.
