First Bank Holdings: Femi Otedola acquires more stake, becomes largest shareholder

  Nigeria’s billionaire magnate and chair of Geregu Power Plc Femi Otedola has acquired a further interest in FBN Holdings Plc, the parent company of Nigeria’s oldest lender First Bank, an affirmation that the heated battle for the soul of the financial services group among its principal shareholders is not yet over. Multiple sources with knowledge of the matter told newsmen that Mr Otedola acquired at least 2.5 per cent additional interest in the company, bringing his total stake to 7.53 per cent. Mr Otedola previously made piecemeal acquisitions summing up to 5.03 per cent. A disclosure of the latest

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