FBN Holdings Plc, the holding company of First Bank of Nigeria, says it has received notification that Femi Otedola, billionaire businessman, has acquired 5% stake in the company.

Advertisement

In what insiders describe as a political move, Seyi Kosoko, the company secretary, had on Friday said FBN Holdings was not aware of Otedola’s shares in a statement to the Nigerian Exchange Limited (NGX).

The letter, a reaction to online reports, was reportedly at the behest of Tunde Hassan-Odukale, the current chairman.

A letter circulating on social media is now attributing 5.36% holding to Hassan-Odukale, although insiders told TheCable he and his entities own only 3%.

Advertisement

TheCable understands that Otedola is still acquiring more shares and is poised to become the chairman of the bank as the largest shareholder.

Meanwhile, in a volte face on Saturday, Kosoko issued another notice saying FBNH had received “a notification from APT Securities and Funds Limited, that their Client, 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 35,895,292,791.

“Based on the foregoing, the equity stake of Mr. Otedola Olufemi Peter and his nominee in the Company
is now 5.07%.”

Advertisement

FBN Holdings had 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.

You may be interested

Why I Sold Zouma To West Ham – Tuchel
Sports
14 views
Sports
14 views

Why I Sold Zouma To West Ham – Tuchel

Webby - December 4, 2021

Chelsea boss Thomas Tuchel has revealed that he has no regret selling Kurt Zouma to West Ham.In an interview with…

Rangers Boss Van Bronckhorst Gives Update On Injured Balogun
Sports
9 views
Sports
9 views

Rangers Boss Van Bronckhorst Gives Update On Injured Balogun

Webby - December 4, 2021

Rangers manager Giovanni van Bronckhorst has given update on injured Leon Balogun as the Scottish champions prepare to host Dundee…

Sagna Denies Dumping Arsenal For Man City Because Of Money
Sports
4 views
Sports
4 views

Sagna Denies Dumping Arsenal For Man City Because Of Money

Webby - December 4, 2021

Bacary Sagna has rejected reports that he left Arsenal to join Man City because of money.The 38-year-old swapped the Emirates…

Leave a Comment

Your email address will not be published.