Sterling Financial Holdings Plc has disclosed that Ess-ay Investment Limited, a major shareholder linked to Mrs. Tairat Tijani, a Non-Executive Director of Sterling Bank Ltd, has acquired additional shares in the company valued at N197.9 million on the Nigerian Exchange (NGX).
The transaction, referenced NGSTERLNHCO9, was executed in 18 separate tranches, according to a regulatory filing signed by Executive Director Olayinka Oni.
Details from the disclosure show that the purchases were carried out between January 6 and January 14, 2026, at an average price of N7.34 per share, involving a total of 26,967,509 ordinary shares.
The acquisition follows a similar insider-linked transaction in December 2025, when Seven Degrees North Limited, an investment vehicle associated with Sterling Financial Holdings’ Group Chief Executive Officer, Yemi Odubiyi, purchased shares worth N578.1 million.
Shareholding impact
Before the latest transaction, Ess-ay Investment Limited already held a 5.14% stake, equivalent to 2,678,152,467 shares, in Sterling Financial Holdings. Following the acquisition of an additional 26.97 million shares, its total holding rose to 2,705,119,976 shares, increasing its ownership to approximately 5.19%.
This positions Ess-ay Investment Limited as the third-largest substantial shareholder in the company. It trails CardinalStone Asset Management Limited, which holds 31.98%, and Silverlake Investments Limited, with a 20.61% stake.
Combined, these three substantial shareholders control 57.73% of Sterling Financial Holdings’ issued share capital, representing 30.09 billion shares out of the company’s 52.12 billion outstanding shares listed on the NGX.
Previous insider-linked purchase
In late December 2025, Seven Degrees North Limited acquired Sterling Financial Holdings shares valued at N578.1 million, giving CEO Yemi Odubiyi an indirect interest of 82 million shares in the company. The transaction was executed at N7.05 per share, a level that appears to have attracted value-oriented investors.
Since then, Sterling Financial Holdings’ shares have gained over 6% year-to-date, trading above N7.50 by mid-session on January 23, 2026.
Financial performance backdrop
Sterling Financial Holdings reported a strong financial performance for the nine-month period ended September 2025, with profit before tax rising 141% year-on-year to N70.96 billion, compared to N29.4 billion in the same period of 2024.
Interest income grew 38.73% to N262.4 billion, largely driven by loans and advances to customers, which contributed approximately N175 billion. After interest expenses of N119.3 billion, net interest income stood at N143 billion.
Non-interest income also remained robust, supported by net fees and commissions of N35.8 billion, net trading income of N22.7 billion, and other income of N20.5 billion, bringing total operating income to N222.2 billion, up 57.69% year-on-year.
On the balance sheet, total assets expanded to N4.0 trillion, up from N3.5 trillion, while retained earnings increased 62% to N102.1 billion.
What it means
Recent share purchases by Ess-ay Investment Limited and Seven Degrees North Limited signal strong insider confidence in Sterling Financial Holdings’ valuation and earnings outlook. With shares accumulated between N7.05 and N7.34, investors are positioning for further upside, especially if the stock sustains momentum toward the N8.50 level on the NGX.
Emmanuel Bassey is a Financial Expert that has worked in the Banking and Finance Industry for over 15+ years across different banks in Nigeria
