Nigerian Aviation Handling Company director cashes out N491.2 million in May share sale

Nigerian Aviation Handling Company (NAHCO) Plc has disclosed that non-executive director Akinwumi Godson Fanimokun executed a share sale, cashing out approximately N491.2 million.

The transaction was captured in a notice signed by Company Secretary Bello A. Abdullahi and referenced NGNAHCO00008, detailing the director’s share transaction.

The deal involved the disposal of 2,413,902 shares at N203.50 per share, with the trades executed between 18 and 22 May 2026 on the Nigerian Exchange in Lagos, Nigeria.

Following the cash-out, his holding declined from 7,031,932 units (0.36%) to 4,618,030 units (0.21%), based on the updated outstanding shares of 2,227,500,000 units.

What the data is saying

According to Nigerian Exchange data, NAHCO shares fell 4.34% on 19 May 2026 during the transaction window, before rebounding 2.96% to N201.90, where the stock remained through 25 May.

Year-to-date, the company’s shares have gained more than 115%, rising from an opening price of N94.55 on the first trading day of 2026 to N203.50, the transaction price.

• Before the transaction, Akinwumi Godson Fanimokun ranked as the sixth-largest shareholder among members of the company’s board, according to the company’s FY2025 audited statements.
• Dr. Seinde Oladapo Fadeni remained the company’s largest shareholder with 497,293,890 shares, representing a 25.51% stake held indirectly through Godsmart Nigeria.
• Rev. Victor Abimbola Olaiya followed with an 8.71% stake largely held through White Cowry, while Prof. Enyinna Ugwuchi Okpara held 7.13% mainly through Awhua Resources Limited.

The latest disposal comes amid strong share price appreciation so far in 2026 on the NGX, alongside a solid first quarter in which pretax profit increased to N6.1 billion from N5.7 billion recorded in Q1 2025.

The earnings performance was supported by revenue of N16.4 billion, with aircraft handling contributing N11.1 billion or 67.7%, followed by cargo handling at N2.8 billion and equipment rental at N1.5 billion.

Get up to speed

In early May 2026, Nigerian Aviation Handling Company disclosed plans to create 278,437,500 new ordinary shares of 50 kobo each to support a proposed bonus issue for shareholders.

The proposal was presented ahead of the company’s Annual General Meeting held on 15 May 2026 in Lagos, where shareholders approved a one-for-seven bonus issue.

Following the exercise, the company’s outstanding shares increased from 1,949,062,500 units to 2,227,500,000 units, further expanding its issued share capital base.

According to the company, the newly created units would rank equally with existing shares and be allotted to shareholders on record as of 1 May 2026, raising share capital from about N974.5 million to N1.113 billion.

What you should know 

• Before Fanimokun’s recent transaction, Executive Director Saheed Lasisi had sold 350,094 shares worth approximately N70.8 million at N202.30 per share, marking the first director dealing recorded in 2026.
• Fanimokun’s N491.2 million share disposal now stands as the largest director transaction disclosed by the company so far in 2026.
• So far this year, more than 235 million shares of Nigerian Aviation Handling Company have been traded on the Nigerian Exchange.