Tuesday, January 18

Tag: Femi Otedola

Reports of Otedola takeover untrue – First Bank
Business

Reports of Otedola takeover untrue – First Bank

First Bank of Nigeria has denied claims by some online media on Friday that a Nigerian business mogul, Femi Otedola has acquired majority stake in the bank. But in a statement obtained by a source from the Nigerian Exchange Limited (NGX) and signed by the FBN Holdings secretary, Seye Kosoko the bank is yet to receive any notification from the individual mentioned on such acquisition. The bank noted that it operates in a regulated environment which required notifications of significant shareholding by shareholders to the company where shares are held in different vehicles. Adding that the bank will always notify the appropriate agencies and authorities whenever it receives any notice of significant shareholding by the shareholder and the company registrars. “The attention of FB...