• Sun. Jul 14th, 2024

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Femi Otedola Increases Ownership Stake in First Bank by 2.22 percent

Billionaire entrepreneur and FBN Holdings chairman, Femi Otedola, has purchased an extra 2.22 percent stake in the First Bank of Nigeria.

Otedola increases his ownership in First Bank of Nigeria to 11.63% following the acquisition of this additional 2.22% stake.

The acquisition was officially revealed in a corporate disclosure filed on the Nigerian Exchange Group (NGX) website on Monday.

The recent purchase solidifies the billionaire’s authority over the company, as his ownership stake has now increased to 11.63 percent – the highest it has ever been.

By News Editor

Our News Editor, Muyiwa is an information management expert and Development Blogger with more than a decade experience in investigative reporting and journalism. He is passionate about human angle stories to all social issues in Nigeria and Africa.