Sunday, 24 October 2021

First Bank refutes reports of Otedola takeover

 FBN Holdings Plc Friday denied claims by online media that the Nigerian business mogul, Femi Otedola has acquired majority stake in the bank.

In a statement signed by the company secretary, Seye Kosoko obtained from Nigerian Exchange Limited(NGX), the bank is yet to receive any notification from the individual mentioned on such acquisition. 

FBN Holdings insisted it operates in a regulated environment which required notifications of significant shareholding by shareholders to the company where shares are held in different vehicles.

According to reports, Otedola, is now the single majority shareholder of the first generation lender in Nigeria with the acquisition of N30 billion worth of the bank’s equities at the NGX.

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