Glamtush
No Result
View All Result
  • Home
  • News
    • Education
    • Health
    • Metro/Crime
    • Nigeria News
    • Photo News
    • World News
  • Politics
  • Business & Brands
  • Entertainment
    • Celebrities
    • Movies
    • Music
    • Telemundo
    • Telenovelas
  • Sports
  • Fashion
    • Accessories
    • Celeb Style
    • Designers
    • Lookbook
    • Style Crush
    • Trends
    • Who Wore It Better
  • Features
    • Dear Angie
    • Interviews
    • Opinions
  • Beauty
    • Hair
    • Skin
    • Nails
  • Lifestyle
    • Career
    • Food & Drinks
    • Fitness
    • Travels
    • Weddings
  • Events
  • Relationship
  • Home
  • News
    • Education
    • Health
    • Metro/Crime
    • Nigeria News
    • Photo News
    • World News
  • Politics
  • Business & Brands
  • Entertainment
    • Celebrities
    • Movies
    • Music
    • Telemundo
    • Telenovelas
  • Sports
  • Fashion
    • Accessories
    • Celeb Style
    • Designers
    • Lookbook
    • Style Crush
    • Trends
    • Who Wore It Better
  • Features
    • Dear Angie
    • Interviews
    • Opinions
  • Beauty
    • Hair
    • Skin
    • Nails
  • Lifestyle
    • Career
    • Food & Drinks
    • Fitness
    • Travels
    • Weddings
  • Events
  • Relationship
No Result
View All Result
Glamtush
No Result
View All Result
Home Business & Brands

Billionaire Femi Otedola Becomes First Bank Largest Shareholder

byAngela Davies
October 22, 2021
in Business & Brands
Otedola Becomes First Bank Largest Shareholder
Share on FacebookShare on TwitterShare on Whatsapp

Billionaire Femi Otedola has become First Bank Nigeria Largest Shareholder.

Glamtush reports that Nigerian billionaire businessman, Femi Otedola has acquired First Bank of Nigeria Limited, Nigeria’s premier and leading financial services provider’s largest share after he bought about N30 billion worth of shares from the financial institution.

READ ALSO

Black Market Dollar To Naira Exchange Rate Today 25 May 2022

BREAKING: Naira Falls Massively As CBN Raises Interest Rates, See New Exchange Rate

An exclusive report monitored on The Street Journal by Glamtush, says Femi Otedola has acquired First Bank highest share with the acquisition of about N30 billion worth of shares, making him the single largest shareholder of the bank.

According to the report, Otedola being the largest shareholder means he holds the highest voting shares and can dictate the direction of the bank through his voting power.

Glamtushrecalls that when that Otedola divested his 75% direct and indirect share holding in Forte Oil, via a merger of his company Zenon Oil and former African Petroleum in 2019, the decision raised questions as to why he made such a decision especially because of the lucrative nature of the oil and gas sector.

Otedola singled out First Bank despite having investments in the real estate and financial sector, for the single reason that there wasn’t exactly one man calling the shots there, unlike in other new generation banks, the report added.

As at the time of filing this report, Glamtush understands that First Bank of Nigeria Limited, Nigeria’s premier and leading financial services provider which was awarded the 2021 ‘’Retail Banking CEO of the Year Nigeria’’, ‘’Most innovative Retail Banking App Nigeria’’ and ‘’Best CSR Bank Nigeria’’ awards by Global Banking and Finance magazine are yet to make the notice official.

Related

READ ALSO  Psaltry International Limited Appoints Mrs Folusho Olaniyan Chairman Board Of Directors

Related Posts

Dollar To Naira Exchange Rate
Business & Brands

Black Market Dollar To Naira Exchange Rate Today 25 May 2022

May 25, 2022
Naira
Business & Brands

BREAKING: Naira Falls Massively As CBN Raises Interest Rates, See New Exchange Rate

May 25, 2022
Interest Rate
Business & Brands

CBN Raises Interest Rate To 13.5%

May 24, 2022
Dollar To Naira Exchange Rate
Business & Brands

Black Market Dollar To Naira Exchange Rate Today 23 May 2022

May 23, 2022
Sterling Bank
Business & Brands

Sterling Bank Signs Mou With Optometrists On Funding, Capacity Building

May 22, 2022
FirstMobile
Business & Brands

FirstBank Rewards Customers In Its FirstMobile Cash-Out Promo

May 22, 2022
Next Post
Sunday Igboho Regains Freedom

Sunday Igboho Has 43 Accounts In 9 Banks, FG Identifies Secessionist’s Sponsor

Lace Styles
Tinubu

Tinubu Will Be Cheaply Humbled And Humiliated – Prophet Bisi Olujobi

May 25, 2022
Dollar To Naira Exchange Rate

Black Market Dollar To Naira Exchange Rate Today 25 May 2022

May 25, 2022
Naira

BREAKING: Naira Falls Massively As CBN Raises Interest Rates, See New Exchange Rate

May 25, 2022
Rochas Okorocha

EFCC Finally Arrests Rochas Okorocha

May 25, 2022
Timetable For Primary Elections

APC Releases Fresh Timetable For Primary Elections (FULL LIST)

May 25, 2022
2022 Headies nominations

Davido, Wizkid Get 2022 Headies nominations (FULL LIST)

May 24, 2022
Interest Rate

CBN Raises Interest Rate To 13.5%

May 24, 2022
PHOTOS: EFCC Operatives Storm Okorocha’s Abuja Residence

PHOTOS: EFCC Operatives Storm Okorocha’s Abuja Residence

May 24, 2022
Poker

Common Parallels Between Business And Poker

May 24, 2022
APC Secretariat

Aisha Buhari, Osinbajo’s Wife, Tallen Storm APC Secretariat

May 23, 2022

Glamtush is a fashion, beauty and lifestyle online magazine. We bring to you latest trends in fashion, beauty and lifestyle as well as those making the fashion world interesting and adorable.

  • About Us
  • Advertise
  • Terms And Conditions
  • Write for Us

© 2022 Glamtush

No Result
View All Result
  • Home
  • News
    • Education
    • Health
    • Metro/Crime
    • Nigeria News
    • Photo News
    • World News
  • Politics
  • Business & Brands
  • Entertainment
    • Celebrities
    • Movies
    • Music
    • Telemundo
    • Telenovelas
  • Sports
  • Fashion
    • Accessories
    • Celeb Style
    • Designers
    • Lookbook
    • Style Crush
    • Trends
    • Who Wore It Better
  • Features
    • Dear Angie
    • Interviews
    • Opinions
  • Beauty
    • Hair
    • Skin
    • Nails
  • Lifestyle
    • Career
    • Food & Drinks
    • Fitness
    • Travels
    • Weddings
  • Events
  • Relationship

© 2022 Glamtush