FBN Holdings Plc recently appointed Femi Otedola as the new Chairman of its Board of Directors after the retirement of Ahmad Abdullahi.
This announcement was shared in a Wednesday corporate notice filed with the Nigerian Exchange Limited. In the notice, the Holding categorically stated that it had appointed billionaire Femi Otedola as the Chairman of FBN Holdings at the board meeting.
On August 15, 2023, Femi Otedola was appointed a Non-Executive Director. His appointment was agreed upon by shareholders at its last Annual General Meeting.
According to the firm's unaudited consolidated financial statements for the period that ended September 30, 2023, Femi Otedola was announced as the largest shareholder of First Bank of Nigeria Holdings Plc, even after the additional acquisition of 4.7 billion units of shares by the former Chairman of the group, Oba Otudeko, in July.
According to the report, Otedola indirectly held 1,989,342,376 units, representing 5.54% of the bank's shareholding. Otedola directly had 40,033,982 units of FBN Holdings shares, representing 0.11%.
When combined, Otedola holds 2,029,376,358 units of FBN Holdings shares, which is about 5.65%.
Read more: https://www.investingport.com/fbn-h...hairman-following-ahmad-abdullahi-retirement/