Femi Otedola Emerges First Bank Major Shareholder

Nigerian Billionaire, Femi Otedola, has emerged a major shareholder of First Bank Holdings, parent company of First Bank Nigeria, after he bought a 5.07 percent equity stake.

This confirmation comes after the company had initially denied knowledge of the takeover, while saying it was yet to get a notification of a significant ownership by Femi Otedola.

This is according to a notice signed and stamped by the company secretary, Seye Kosoko.

The notice read; “We refer to our communication to the market dated October 22, 2021 on the above subject wherein we stated that we would inform the public of any substantial acquisition, upon receipt of notification from the Shareholder”.

“This morning, October 23, 2021, FBN Holdings Plc 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%.”