Otedola
Femi Otedola is now First Bank Holdings’ board chairman
Nigerian billionaire, businessman and investor, Femi Otedola has finally been appointed the new chairman of First Bank Holdings board of directors.
This was announced by First Bank Holding in a corporate filing on the Nigerian Exchange Limited (NGX).
The financial institution notified investors about the new development.
Femi Otedola became the major shareholder of FBN Holdings (FBNH), the owners of First Bank Nigeria, after acquiring a 5.07 per cent equity stake.
With that stake, Mr Otedola becomes the bank’s single largest shareholder on record.
The bank had in its 2020 annual report and accounts stated that “According to Register of Members as at December 30, 2020, there is no shareholder with 5% of the shares of FBN Holdings Plc.”
Details later….