Zenith Bank Plc has disclosed that its Staff Provident Fund, which is made up of salary contributions from employees, recently bought 33,015,935 units of the bank’s shares worth about N2.3 billion.

The disclosure was contained in a director dealing notice filed with the Nigerian Exchange on 11th November 2025 and signed by the company secretary, Michael Osilama Otu.

According to the filing, the purchase was carried out in nine tranches at an average price of N69.67 per share under transaction ID 029200268F8M5Y1629, executed over three trading days on September 26, 29, and 30 on the NGX in Lagos.

On November 7, 2025, the fund cashed out 1,750,000 units at N59.98 per share, totaling N104.97 million, likely to meet employee benefit obligations.

The September purchase illustrates how institutions can grow staff funds through strategic investments in the equities market.

For the nine months ended September 30, 2025, Zenith Bank spent N182 billion on personnel expenses, up from N150.6 billion in the same period the previous year.