Jaiz Bank shares wipe $18m off Sa’adat Mohammed’s stake

Nigerian banker and lawyer Sa’adat Mohammed has lost nearly $18 million in the paper value of her indirect stake in Jaiz Bank Plc following a 44.76 per cent decline in the lender’s share price since its February peak.

The value of Mohammed’s holdings fell from N57.47 billion ($41.68 million) to N31.75 billion ($23.71 million), representing a paper loss of N25.72 billion ($17.97 million), according to market figures cited in the report.

Mohammed holds an indirect 9.19 per cent stake in Jaiz Bank through Althani Investment Ltd, equivalent to approximately 4.1 billion shares.

The bank’s share price peaked at N14.03 on February 25, 2026, before declining to N7.75 as of the period covered by the report.

The downturn comes ahead of the release of Jaiz Bank’s third-quarter results for the period ended September 30, 2026, as investors await fresh financial disclosures from the non-interest lender.

Founded in 2003 and commencing operations in 2012, Jaiz Bank is Nigeria’s pioneer non-interest bank, with operations spanning physical branches and digital banking platforms.

Althani Investment Ltd, through which Mohammed holds her stake, is a subsidiary of Althani Group, an investment conglomerate founded by Nigerian businessman Musbahu Mohammed Bashir on July 18, 2003.

The decline in the bank’s share price has also reduced its market capitalisation to N346 billion ($257.5 million), based on the market close on Friday, October 23, 2026.

For Mohammed, the fall represents a reduction in the market value of her shareholding rather than a confirmed cash loss, as the shares remain held unless sold.

The bank’s forthcoming nine-month financial results are expected to provide investors with updated information on its performance amid the recent share-price decline.

(Shore Africa)