Femi Otedola Has Not Acquired First Bank Majority Shares- FBN Holdings


Mr. Femi Otedola  


By Our Reporter

Contrary to report that made the rounds that Mr. Femi Otedola acquired majority shares of First Bank of Nigeria Holdings (FBNH), FBN Holdings (FBNH) Plc, on Thursday, denied the reported acquisition of a majority stake in the company by the Epe born businessman.

In a statement published on the website of the Nigerian Exchange (NGX) and obtained by NATIONAL WAVES, FBN Holdings said it was yet to receive any notification of the reported acquisition.

The statement signed by the FBNH Company Secretary, Mr Seye Kosoko, read: “The attention of FBNH has been drawn to media reports of today, Oct. 22, purporting that a certain individual has acquired significant shareholding interest in FBN Holdings, making him the majority shareholder in the company.

“As a listed company, the shares of FBN Holdings are publicly traded, and sale and acquisition of shares are expected in the normal course of business.”

FBNH explained that the company operates in a regulated environment, which required notification of significant shareholding by shareholders to the company, where shares were held in different vehicles, further to which the company would notify the regulators and the public as appropriate.

“The company is yet to receive any notification from the individual mentioned in the media report, of such acquisitions.

“FBN Holdings Plc will always notify the appropriate agencies and authorities whenever it receives any notice of significant shareholding by the shareholders and the company’s registrars.



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