Categories: Business & Brands

We Are Yet To Receive Notification Of Otedola’s Widely-Reported Acquisitions- FBN Holdings

FBN Holdings Plc has said that it is not aware of billionaire Femi Otedola’s widely-reported share acquisitions.

Glamtush recalls that reports emerged on Friday that an entity owned by Otedola is behind a massive mop-up of the shares of FBN Holdings, one of Nigeria’s tier one banks. The reports claim Otedola is now the majority shareholder of the bank “with an announcement imminent in the coming days.”

But now, the holding company for First Bank of Nigeria Limited, in a statement signed by its Company Secretary, Seyi Kosoko, and filed with the Nigerian Exchange Limited on Friday, said it had not received any notification of such acquisitions.

It said, “The attention of FBN Holdings Plc has been drawn to media reports yesterday (Friday) that a certain individual has acquired a significant shareholding interest in FBN Holdings Plc.

“As a listed company, the shares of FBN Holdings are publicly traded, and sale and acquisition of shares is expected in the normal course of business. We operate in a regulated environment, which requires notification of significant shareholding by shareholders to the company, where shares are held in different vehicles, further to which the company will notify the regulators and the public as appropriate.

“The company is yet to receive any notification from the individual mentioned in the media report, of such acquisitions.”

Glamtush reports that Otedola is a former chairman of Forte Oil PLC, an importer of fuel products. He is the founder of Zenon Petroleum and Gas Ltd, and the owner of a number of other businesses across shipping, real estate and finance. He has recently invested in power generation.

Angela Davies

Recent Posts

PHOTOS: Davido Receives Luxury Car From Auto Firm For 32nd Birthday

Davido has received a luxury car from an auto firm for his 32nd birthday.  …

8 hours ago

VIDEO: How Primate Ayodele Foretold Simon Ekpa’s Arrest In 2023

Simon Ekpa, a Finnish-Nigerian separatist agitator and self-proclaimed Prime Minister of the Biafra Republic Government…

8 hours ago

Speaker Obasa Clarifies Negative Perceptions As Sanwo-Olu Presents 2025 Budget

Accuses detractors of peddling news of alleged governorship ambition.   Speaker of the Lagos State…

9 hours ago

Simon Ekpa, Four Others Arrested In Finland Over Terrorism Activities

Simon Ekpa and four others have been arrested in Finland over terrorism activities.   Glamtush…

13 hours ago

Davido Celebrates 32nd Birthday With ₦300m Donation To Orphanages

Davido is excited to celebrate his 32nd birthday with a ₦300m donation to orphanages.  …

15 hours ago

America Returnee Found Dead In Ogun Hotel

An American returnee has been found dead in an Ogun hotel.   Glamtush reports that…

15 hours ago