November 21, 2022

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First Bank acknowledges Femi Otedola as Single Largest Shareholder

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FBN Holdings (FBNH) has backed down on its earlier submission that Mr Femi Otedola did not acquire the largest shares of the bank. FBN Holdings (FBNH) Plc on Saturday confirmed that the Epe born businessman acquired 5.07 per cent equity stake in the company.

FBNH Company Secretary, Mr Seye Kosoko, in another statement on Saturday posted on the Nigerian Exchange (NGX) Ltd website affirmed that Otedola and his nominee now own 5.07 per cent equity stake in the company.

“We refer to our communication to the market dated October 22, 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, Oct. 23, 2021, FBN Holdings Plc received a notification from APT Securities and Funds Ltd, that their client, Mr Otedola Olufemi Peter and his nominee, Calvados Global Services Ltd 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 per cent,” said the statement.

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