FBNHoldings makes U-turn, confirms Otedola’s highest shareholding


The management of First Bank of Nigeria (FBN) Holdings Plc has written officially to the Nigerian Exchange notifying of the acquisition of substantial shareholdings in the Holding Company by a new investor.

This is coming after it said the firm had not received a notification of a significant holding by a new investor.

The company’s earlier notice dated Friday was interpreted in some quarters as a denial of any knowledge of a takeover of the company by Femi Otedola, the billionaire reported as having acquired majority shareholding in the firm.

But in what looks like a twist, FBN Holdings Plc in another press release dated October 23, 2021 and published on the Exchange website, stated that…

Source: Nigerian Tribune

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