Otedola Surpasses Otudeko in First Bank Stake with Acquisition of 797.9 Million Shares


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

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With this latest purchase, Otedola’s stake in FBN Holdings has increased to 11.63 percent, solidifying his position as the largest shareholder in the company. Last week, he had already bolstered his ownership with the acquisition of 546,674,034 units of shares valued at N12.01 billion through Calvados Global Services Limited, at a price of N21.97 per share.

Previously holding a 7.01 percent stake, Otedola’s recent investments highlight his commitment to maintaining and expanding his influence within FBN Holdings.

Godwin Okafor, The Naija247news
Godwin Okafor, The Naija247newshttps://naija247news.com
Godwin Okafor is a veteran Financial Journalist, Internet Social Entrepreneur, and the visionary Founder of Naija247news Media Limited. With an extensive career spanning over 16 years in financial journalism, Godwin possesses a wealth of experience that seamlessly bridges both traditional and digital media landscapes. His journey in journalism commenced at Business Day, Nigeria, where he laid the foundation for his prolific career. In 2010, Godwin took a bold step by founding Naija247news Media, a platform that has since become a prominent player in delivering timely and accurate news. Educationally, Godwin Okafor holds a Bachelor's degree in Industrial Relations and Personnel Management from the prestigious Lagos State University, Ojo, Lagos. His commitment to continuous learning led him to the Lagos Business School, where he further honed his skills. Additionally, he is recognized as a Fellow of the University of Pennsylvania, having successfully completed the Wharton Seminar for Business Journalists. Throughout his illustrious career, Godwin has earned acclaim by winning numerous journalism awards, a testament to his dedication to excellence in reporting. Beyond his role as a Financial Journalist, Godwin Okafor wears the hat of the Chairman at Emmerich Resources Limited, the publishing entity behind Naija247news. His visionary leadership has played a pivotal role in shaping the media landscape and establishing Naija247news as a trusted source of information. Godwin Okafor's multifaceted expertise, commitment to journalistic integrity, and leadership in the realm of business journalism underscore his influential presence in both the media and entrepreneurial spheres.

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