First Bank of Nigeria Holdings Confirms Femi Otedola As Biggest Shareholder

Nigeria’s oldest banking group First Bank of Nigeria Holdings (FBNH) has confirmed billionaire businessman Femi Otedola is its biggest shareholder. Early on Friday, October 22,  Seyi Kosoko the Company’s Secretary in a filed statement with the Nigerian Exchange Limited said FBN Holdings are yet to receive any notification on Otedola’s reported acquisitions. “The attention of FBN Holdings Plc has been drawn to media reports today (Friday) that a certain individual has acquired significant shareholding interest in FBN Holdings Plc’’ the statement reads.

“As a listed company, the shares of FBN Holdings are publicly traded, and sale and acquisition of shares is expected in the normal course of business. We operate in a regulated environment, which requires notification of significant shareholding by shareholders to the company, where shares are held in different vehicles, further to which the company will notify the regulators and the public as appropriate.

“The company is yet to receive any notification from the individual mentioned in the media report, of such acquisitions.”

However, a follow-up communication from FBNH to the Nigerian Exchange Limited on Saturday confirmed Otedola’s new status which now sees him rise over Oba Otudeko and Oye Hassan Odukale in shareholdings at FBNH. The pair were previously the company’s biggest owners with 1.5% shareholdings each.

Signed by the company’s secretary Seyi Kosoko, the new statement confirmed that “Mr Otedola Olufemi Peter and his nominee, Calvados Global Services Limited have acquired a total of 1,818, 551,625 units of shares from the Company’s issued share capital of 35,895,292791.”

“Based on the foregoing, the equity stake of Mr Otedola Olufemi Peter and his nominee in the company is now 5.07%,”

Source

Pulse NG