First Bank Holdings confirms Otedola as majority shareholder

First Bank Holdings says the equity stake of Otedola and his nominee in the company is now 5.07%.

First Bank Holdings confirms Femi Otedola as majority shareholder (Dailynews)

First Bank Holdings, owners of First Bank Nigeria has confirmed Nigerian billionaire, Femi Otedola as the majority shareholder of the company.

The company had earlier denied Otedola’s acquisition of significant shareholding, saying it is not aware of such development.

But in a follow-up communication to the Nigerian Exchange Limited on Saturday, October 23, 2021, the firm confirmed “that 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 35,895,292791.”

“Based on the foregoing, the equity stake of Mr Otedola Olufemi Peter and his nominee in the company is now 5.07%,” the notice signed by the Company Secretary, Seyi Kosoko stated.

Due to his over five per cent stake in FBN Holdings, Otedola’s shareholding surpasses that of Oba Otudeko and Oye Hassan Odukale, both of whom are the firm’s biggest owners with 1.5 per cent and 1.03 per cent holdings respectively.

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