Otedola buys N18.9bn shares to regain position as biggest shareholder in FBN Holdings

Femi Otedola, billionaire businessman and the chairman of FBN Holdings has regained his position as the majority shareholder of First Bank.

Femi Otedola, billionaire businessman and chairman of FBN Holdings, has regained his position as the majority shareholder of First Bank.

According to corporate filings on the Nigerian Exchange Group on Thursday, Otedola now owns 9.41 percent shares in the bank.He then bought an additional 546,674,034 shares through Calvados Global Services Limited, his holding company, for N21.97 per share — totalling N12.01 billion.This means the businessman is now the highest shareholder in the company, overtaking Barbican Capital Limited, owned by Oba Otudeko, which has 3,110,400,619 direct shares.

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