Aradel Holdings’ company secretary and another senior executive have sold more than 8.53 million shares worth N10.9 billion in the Nigerian integrated energy producer, according to a regulatory filing, in one of the largest insider share transactions disclosed on the Nigerian Exchange this year.
The transactions, completed on June 25 and disclosed in an insider dealing notification dated July 2, involved Titilola Omisore, company secretary and group general counsel, and Temitayo Ogunbanjo, general manager, refinery. Omisore sold 5 million shares at an average price of N1,275 each, while Ogunbanjo disposed of 3.53 million shares at an average price of N1,282.50 per share.
The filing did not disclose the reasons for the sales. Under Nigerian Exchange disclosure rules, both executives qualify as insiders and are required to notify the market of trades in the company’s securities.
The transactions come during a difficult period for Nigeria’s equities market. The Nigerian Exchange recorded its steepest monthly decline on record in June, with investors losing N13.29 trillion in market value after the All-Share Index fell 8.28 percent, dragging market capitalisation down from N160.5 trillion to N147.2 trillion.
Aradel’s shares have not been spared. The stock has declined about 27 percent since the company released its audited 2025 financial statements on June 19, even as the business continues to deliver record earnings and stronger shareholder returns.
Despite the recent weakness in its share price, Aradel remains one of the strongest-performing companies in Nigeria’s oil and gas sector.
The company’s board has proposed a final dividend of N23 per share for the…
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Read Full Article by Chinwe Michael at businessday.ng
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