Mr. Olufemi Peter Otedola, CON has been appointed as the new Chairman of the Board of Directors of FBN Holdings Plc (NGX: FBNH).
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FBNH in a regulatory filing on Wednesday notified the Nigerian Exchange Limited and the investing public that at the meeting of the Board of Directors of the Company held on January 31, 2024, the Board appointed Mr. Olufemi Peter Otedola, CON as the new Chairman of the Board of Directors.
Femi Otedola succeeds the outgoing Chairman of the Board, Alhaji Ahmad Abdullahi.
Investogist reported in 2021 that Mr. Otedola Olufemi Peter and his nominee, Calvados Global Services Limited had acquired a total of 1,818,551,625 units of shares from FBNH’s issued share capital of 35,895,292,791.
By the end of 2021, Mr. Otedola directly and indirectly held 2,717,282,140 shares of the company, representing 7.57% equity stake, according to the 2021 audited financial statement of FBNH.
On June 6th, 2022, he sold 773,000,000 shares of the financial services company worth ₦8.58 billion.
The 2022 audited financial statements of the company shows that Femi Otedola directly and indirectly owns 1.99 trillion shares of FBNH, representing 5.57% ownership.
He is the only shareholder with more than 5% shareholding in FBN Holdings Plc.
FBN Holdings Plc is a well-diversified and one of the largest financial services organisations in Africa. It is structured along Commercial Banking, Merchant Banking, Capital Markets, Trusteeship, and Insurance brokerage.
Nnamdi Maduakor is a Writer, Investor and Entrepreneur
