Nigerian oil mogul and billionaire investor Mohammed Indimi had an exceptional 2025, with his significant stake in Jaiz Bank Plc adding an estimated $22.74 million to his wealth. This impressive gain marks a strong comeback after a challenging 2024, where his investment saw a dip of nearly $3.93 million.
The rebound was driven by renewed investor confidence in Nigeria’s banking sector, stellar financial performance by Jaiz Bank, and a strengthening naira.
As the founder of Oriental Energy Resources and the largest shareholder in Jaiz Bank, Indimi holds a 29.36% stake, which translates to about 13.09 billion shares.
Throughout 2025, the value of this holding surged from approximately N39 billion ($25.42 million) to nearly N68.9 billion ($48.16 million).
The bank’s share price on the Nigerian Exchange climbed dramatically, logging a 75.33% gain in naira terms.
When combined with the firmer naira, the dollar-based returns for investors like Indimi shot up by almost 90%.
The stock, which has a 52-week high of N5.50, was trading at N5.30 as of this morning.
The market’s enthusiasm for Jaiz Bank is backed by strong fundamentals.
The bank, which is Nigeria’s pioneer and largest non-interest lender, saw its profits more than double in 2024 to N23.48 billion ($15.33 million).
This performance, along with a surge in total assets to over N1 trillion ($705 million), set the stage for its remarkable stock market run in 2025.
As a result of this profitability, Indimi is also slated to receive a dividend of N916.5 million ($600,000) from his holdings for the 2024 financial year.
