Elumelu, Ovia, Other Top 5 Banks' Big Bosses Pocket Billions As Stock Market Rally in 2025

The strong stock market rally in 2025 has led to significant gains for Nigeria's top bank shareholders. Zenith Bank founder Jim Ovia, UBA chairman Tony Elumelu, and billionaire investor Olufemi Otedola are among the largest beneficiaries.

The NGX tracked stock price movements of listed banks, showing increases from August 2024 to August 2025. Ovia's holdings in Zenith Bank are now valued at billions, while Elumelu's UBA shares have increased by 41%.

Otedola, the chairman of the parent company, has also enjoyed strong returns on his investments. Access Holdings chairman Aigboje returned with a substantial increase in his stake, while GTCO chief executive Olusegun Agbaje recorded the sharpest percentage increase in holdings.

The market activity remained robust, with total shares valued at billions traded. Investors are optimistic about sustainable growth in the banking sector.