Otedola surpasses Otudeko in first block of bank shares, acquiring 797.9 million shares

Billionaire and Chairman of First Bank Nigeria (FBN) Holdings Plc, Mr. Femi Otedola, has acquired an additional 797,946,415 units of shares of the company through the Nigerian Exchange Limited (NGX). The transaction disclosed in a corporate filing resulted in the shares trading at N21.58 per share, making a total of N17.219 billion.

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With this latest purchase, Otedola’s stake in FBN Holdings increased to 11.63 percent, strengthening his position as the largest shareholder in the company. Last week, it had already strengthened its stake by acquiring 546,674,034 units of shares worth N12.01 billion through Calvados Global Services Limited at a price of N21.97 per share.

Otedola previously held a 7.01 per cent stake and his recent investments demonstrate his commitment to maintaining and expanding his influence in FBN Holdings.