Fola Adeola, co-founder of Guaranty Trust Bank (GTBank) and a prominent figure in Nigeria’s financial sector, has sold 18.25 million shares in Aradel Holdings Plc, valued at approximately N10.9 billion.
The sale was disclosed in a regulatory filing submitted to the Nigerian Exchange Limited.
According to the company’s statement, the transaction took place on December 31, 2024, with each share sold at N598.50. Adeola, a major shareholder in Aradel, held over 5% equity before the sale.
Aradel Holdings, formerly known as Niger Delta Exploration & Production Plc, is a leading energy company with significant investments in oil and gas.
The statement, signed by Company Secretary Titi Omisore, clarified that the transaction was part of routine share dealings by insiders, in compliance with regulatory requirements.
Adeola’s financial influence extends beyond banking. He is the founder of FATE Foundation, an organization focused on supporting entrepreneurs, and a member of the Commission…
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