Image credit: premiumtimesng.com The News of Mr Otedola Olufemi Peter becoming the highest shareholder in FirstBank Nigeria Holdings took over the social media yesterday which was initially debunked by the company secretary, Seyi Kosoko, but in a turn of events, it was later confirmed by the Secretary.
Best Banks in Nigeria 2020 It's known that banking is a specialist activity that created throughout the most recent 500 years or so to deal with the money related parts of any nation. Get the job done to say that even in the most primitive economy where there is no cash framework. The above assertion is relevant to Nigerian Banking area today as it stays one of the most serious areas in the economy and maybe the most productive. In this article, in view of our top to bottom reports on banking area exercises
Otedola Takes Over First Bank To Get A Competitive Advantage Against Dangote In The Billionaire Race.
According to reports, billionaire Femi Otedola has purchased the majority of shares in FBN Holdings, the company that owns First Bank of Nigeria Limited. Otedola is said to have taken over the bank by purchasing 30 billion worth of shares, making him the bank's single largest stakeholder.
Image: Femi Otedola. There are strong indications that Femi Otedola, the founder and chairman of Geregu Energy Group, has acquired the bulk stake in FBN Holdings (FBNH). According to a source who requested anonymity, Femi Otedola is behind a huge takeover of FBN Holdings' shares, which might end in him becoming the company's sole majority shareholder.
The shares of FBN Holdings (FBNH) PLC, the parent company of First Bank of NIgeria Limited was the toast of Investors at the close of trading on the floor of The Nigerian Stock Exchange (NSE) as 99,387,274 units of the Tier-1 bank shares valued at N700,499,365.45 changed hands in 265 deals at the close of trading on Thursday December 17, 2020. Despite the lead in both volume and value of transactions it's share price was flat as it closed at N7 per share, the same price at which it closed at the close of trading
Femi Otedola, a billionaire investor, has revealed 5.07 percent ownership of FBNH, Nigeria's oldest bank. This was confirmed by FBNH in a letter posted on the organization's website. Mr. Otedola obtained almost 5% of the bank, according to Nairametrics, after purchasing shares over a long period of time.
Nigerian stock market sustained its positive outlook on Tuesday to begin the month of December on a positive note as the All -Share Index and the market capitalisation rose further by 0 .30 per cent each . Market watchers attributed the development to renewed confidence as bargain hunters continue to leverage undervalued stocks . The market breadth, however, closed negative as the number of gainers at the close of trading session was 16 while decliners were 21 . Consequently , the All-Share Index grew by 105