Dr. Aminu Alhassan Dantata, CON has raised his direct stake in Jaiz Bank Plc (NGX: JAIZ) to 5.91%, representing a total of 1,744,037,748 ordinary shares of the Bank.
In a notification published by the Bank on The Nigerian Exchange, informing the Exchange and the Investing Public of share dealing by Insiders, Alh. Aminu Alhassan Dantata had on 19th and 23rd days of July 2021 acquired an aggregated volume of 178,827,232 ordinary shares of Jaiz Bank Plc.
The Shares according to the aforementioned notification was purchased at 57 Kobo per Share and the transaction was done at the Nigerian Exchange Limited.
As at 31t December, Dr. Dantata, CON directly 1,565,210,516 owned ordinary shares of JAIZ, representing 5.31%. With the transactions completed in July 2021, Dr. Dantata has increased his direct holding to 1.744 billion ordinary shares.
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One of the subsidiaries of his family Business however owns a higher portion of the Bank’s ordinary shares. Dantata Investment & Securities Limited owns 4.20 billion ordinary shares of the Bank, representing 14.27% shareholding.
Dantata Investment & Securities Limited is part of Alhassan Dantata and Sons Limited, a family business Dr. Aminu Alhassan Dantata, CON has been the Chairman and Managing Director of since 1960.
His relative, Alh. Aliko Dangote’s Dangote Industries own 2.50 billion units of JAIZ shares, representing 8.48% of the Bank’s outstanding ordinary shares.
About the Man
A renowned business man, he began his career as produce buyer in 1949 in the family business of Alhassan Dantata and Sons Limited. He became the Chairman and Managing Director of the Company, in 1960, a position he holds till date. Dr. Dantata was a member of the Steering Committee of the Nigerian Industrial Development Bank (now Bank of Industry, BOI), and served as a Director of the Bank between 1962 and 1966. He has led several trade missions to several countries across the world.
About the Bank
Jaiz Bank Plc is the first fully fledged non-interest financial institution in Nigeria. The Bank was granted a banking license to carry on the business of non interest banking and commenced operation on January 6th, 2012 with three branches in two states and the Federal Capital Territory.
The Bank started with a Regional License obtained from the Central Bank of Nigeria to operate in the Northern part of the country and thereafter metamorphosed into a National Bank on the 12th of May 2016 with key presence in virtually all geopolitical zones of the country.
Jaiz Bank is publicly quoted on the Nigerian Exchange Limited with a balance sheet size of N233 billion (as at December 31st 2020) from N12 billion in 2012. Financing and Investment assets also grew from over N30 billion in 2012 to N166billion (as at December 31st 2020). Other critical parameters such as customer deposits, branch network and profitability have all been growing year–on–year since inception.
The address of the Bank’s registered office is Kano House, Plot 73, Ralph Shodeinde Street, Central Business District, and Abuja, Nigeria.
It’s Board of Directors comprises of the following;
- Abdulfattah O. Amoo
- Alh. (Dr.) Aminu Alhassan Dantata
- Alh. (Dr.) Muhammadu Indimi
- Alh. (Dr.) Musbahu Bashir
- Alh. (Dr.) Umaru Abdul Mutallab
- Alh. (Dr.) Umaru Kwairanga
- Alhaji Mamun Maude
- H.R.H. Engr. Bello Muhammad Sanni
- Mall. Falalu Bello
- Mall. Hassan Usman
- Mr. Seedy Njie
JAIZ has 29.46 billion outstanding ordinary shares, its shares currently trade at 60 Kobo per share.
Nnamdi Maduakor is a Writer, Investor and Entrepreneur