Nigerian banker Sa’adat Mohammed’s Jaiz stake tops $30 million

Nigerian lawyer and banker Sa’adat Hamza Mohammed has seen the value of her indirect stake in Jaiz Bank Plc. rise above $30 million, following a sharp rally in the bank’s shares on the Nigerian Exchange (NGX).

The surge has added nearly $20 million to her indirect holdings in early 2026, underscoring renewed investor appetite for Nigeria’s banking stocks, particularly in the fast-growing non-interest segment.

Hamza Mohammed’s Jaiz Bank stake rises by nearly $20 million in 2026
Mohammed, a seasoned legal and banking executive, is a significant indirect shareholder in Jaiz Bank, holding a 9.19% stake through Althani Investment Ltd, equivalent to 4.1 billion shares.

Althani Investment Ltd, a subsidiary of Althani group, a major investment conglomerate founded by Nigerian businessman, Musbahu Mohammed Bashir, who founded the company on July 18 2003 and has transitioned to have various subsidiaries.

With Jaiz Bank’s share price now climbing by nearly 160% since January, the value of her indirect holdings jumped from N18.64 billion ($12.1 million) to N45.06 billion ($31.25 million). That gain translates to a N26.42 billion ($19.19 million) increase in 77 days of 2026, averaging roughly $249,212 per day.

Nigerian lawyer and banker Sa’adat Hamza Mohammed is a non-executive director at Jaiz Bank, since August 16 2024

Strong fundamentals drive Jaiz Bank rally
Founded in 2003, Jaiz Bank Plc. pioneered Islamic banking in Nigeria and commenced operations in 2012. Headquartered in Abuja, the lender operates nationwide through a growing digital and physical network, offering non-interest financial products tailored to retail and corporate clients.

The bank’s strong financial performance in 2025 underpins the recent market rally. Profit rose 32.19% to N31.04 billion ($22.83 million) as of 2025, up from N23.48 billion ($17.26 million) a year earlier.

Total assets climbed 19.06%, reaching N1.29 trillion ($945.62 million), compared with N1.08 trillion ($705.05 million) at the end of 2024. As of this report, Jaiz Bank ranks 31st among the most valuable companies listed on the Nigerian Exchange. It also retains its distinction as Nigeria’s first non-interest bank, benefiting from rising investor interest in ethical and Sharia-compliant finance.