HomeBUSINESSBANKINGBillionaire investor, Femi Otedola now majority shareholder of FBNH

Billionaire investor, Femi Otedola now majority shareholder of FBNH

Billionaire investor and charismatic personality Femi Otedola, is behind a massive mop-up of the shares of FBN Holding, one of Nigeria’s tier one banks.

According to multiple sources with knowledge of the purchase, majority ownership of FBN Holding Company, owners of Nigeria’s oldest bank, First Bank, is about to be upturned following months of slow and meticulous purchase of the company shares on the floor of the Nigerian Stock Exchange by Otedola. We understand Femi Otedola is now the majority shareholder of the bank with an announcement imminent in the coming days.

The billionaire investor and turnaround specialist famous for taking over African Petroleum earlier in the century and turning it into a dominant player in the downstream space of the oil and gas sector has been mopping up shares of the bank for months gradually accumulating his ownership and surpassing shares owned by any other single shareholder of the bank.

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