Billionaire businessman, Mr Femi Otedola has been officially confirmed as the biggest shareholder of First Bank of Nigeria, having acquired five percent stake in the company.
FBN Holdings Plc, the holding company of First Bank of Nigeria, disclosed this on Saturday.
Mr Otedola is still acquiring more shares and is poised to become the chairman of the bank as the largest shareholder.
Earlier on Friday, Mr Seyi Kosoko, the company secretary of the bank, said FBN Holdings was not aware of Otedola’s shares in a statement to the Nigerian Exchange Limited (NGX).
Twenty four hours later, Mr Kosoko issued another notice saying FBNH had received “a notification from APT Securities and Funds Limited, that their Client, 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 35,895,292,791.
“Based on the foregoing, the equity stake of Mr. Otedola Olufemi Peter and his nominee in the Company is now 5.07%.”
