Nigerian billionaire and investor, Mr. Femi Otedola, has been appointed as the new Chairman of First Bank Holdings board of directors.
The holding firm announced this in a corporate filing on the Nigerian Exchange Limited (NGX), notifying investors about the new development.
Persecondnews recalls that Otedola became the major shareholder of FBN Holdings (FBNH), the owners of First Bank Nigeria, after acquiring a 5.07 percent equity stake.
With that stake, Mr. Otedola becomes the bank’s single largest shareholder on record.
The bank stated in its 2020 annual report and accounts that “according to the Register of Members as of December 30, 2020, there is no shareholder with 5% of the shares of FBN Holdings Plc.”
Details shortly….
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