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FBN Holdings denies knowledge of Otedola’s majority shares acquisition



Femi Otedola takes over as chairman of FBN Holdings

FBN Holdings Plc, the holding company for First Bank of Nigeria Limited, has denied knowledge of acquisition of majority of its shares by billionaire businessman, Mr Femi Otedola.

The company, in a statement signed by its Secretary, Seyi Kosoko, and filed with the Nigerian Exchange Limited on Friday, said it had not received any notification of such acquisitions.

This followed media reports that Otedola has acquired majority of its shareholding.

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The statement said, “The attention of FBN Holdings Plc has been drawn to media reports today (Friday) that a certain individual has acquired 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.”

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