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  • Tue. Jan 25th, 2022

Femi Otedola: First Bank Falsifies Alleged Acquisition of Majority Shares

First Bank of Nigeria has denied the alleged acquisition of majority shares by businessman billionaire Femi Otedola which acclaimed his takeover of the financial institution.

This was disclosed in a statement signed by FBNH company secretary, Mr Seye Kosoko which read thus:
“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.”

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

First Bank further on by saying the company would notify the regulators and the public about the appropriate shareholders guidelines.

“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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