Mohammed Indimi’s Stake in Jaiz Bank Falls Below $100 Million Amid Share Selloff
Nigerian businessman and oil magnate Mohammed Indimi has seen the value of his stake in Jaiz Bank Plc drop below the $100 million mark following a sustained decline in the bank’s share price.
Indimi, founder of Oriental Energy Resources and the largest shareholder in Jaiz Bank with a 29.36 per cent stake, reportedly recorded a sharp decline in the value of his holdings over the past few months as investors continued to sell off the bank’s shares.
Reports indicate that the value of his investment dropped from approximately $135.7 million in February to about N117.84 billion, estimated at $85.95 million, within 79 days.
The decline follows a significant fall in Jaiz Bank’s market value, with the bank’s share price dropping by about 37 per cent from N14.03 on February 25 to N9 per share.
The development is said to have wiped nearly $50 million from the paper value of Indimi’s investment in the non-interest bank.
Market analysts attributed the selloff largely to investor concerns over delays in the release of Jaiz Bank’s 2025 audited financial results.
The bank had earlier disclosed that the delay was due to an ongoing review process by the Central Bank of Nigeria (CBN), assuring shareholders that the process had reached an advanced stage and that the financial statements would be released upon regulatory approval.
However, the delay has reportedly affected investor confidence, especially as several competing banks have already released their first-quarter 2026 financial results.
Financial experts say the situation highlights the importance of timely earnings disclosure and regulatory transparency in sustaining investor confidence within Nigeria’s banking sector.
Despite the recent decline, Jaiz Bank remains one of Nigeria’s leading non-interest financial institutions, with operations focused on ethical and Islamic banking services.
Mohammed Indimi’s Stake in Jaiz Bank Falls Below $100 Million Amid Share Selloff