Chairman and Non-Executive Director of Ecobank Transnational Incorporated, Alain Francis Nkontchou, has dumped almost N972,206,546.2 on shares of Ecobank.
Investors King got a statement signed by Madibinet Cisse, Company Secretary, from the bank.
Between September 1, 2021, and December 20, 2021, Alain Nkontchou purchased 131,379,263 shares at an average price of N7.40 per unit from shares offered for sale in the market at the Nigerian Exchange Limited trading office in Lagos, Nigeria.
The statement is in accordance with the Securities and Exchange Commission’s new insider dealing notification act, which aims to enforce a transparency policy across the Nigerian capital market.
Alain Nkontchou was appointed as Chairman of Ecobank on June 30, 2021. Prior to joining the bank, Alain Nkontchou is the Managing Partner and co-founder of Enko Capital Management LLP, an asset management company based in London and Johannesburg, which focuses on African investment opportunities.
Mr Nkontchou was an advisor at Laurent Perrier champagne, having been a NonExecutive Director from 1999 to 2009. He was Managing Director of Credit Suisse’s Global Macro Trading Group in London between 1995 and 2008 and also at JP Morgan Chase & Co. in the same capacity.
Between 1989 and 1994, he was with Chemical Bank in Paris and New York, where he became Vice- President, Head of Trading and Sales.
Mr Nkontchou has a track record of business success, having generated significant dollar revenues for each of these top tier institutions. He has an MSc in Electrical Engineering from Supélec and P.M. Curie University, Paris, and an MSc in Finance and Accounting from ESCP (Ecole Supérieure de Commerce de Paris)
Ojelabi, the publisher of Freelanews, is an award winning and professionally trained mass communicator, who writes ruthlessly about pop culture, religion, politics and entertainment.
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