Following reports on news headlines today, it indicates that Billionaire Femi Otedola now has the highest shares in FBN holdings, owners of first bank of Nigeria.
Billionaire Femi Otedola became the single largest shareholder of FBN when he took over shares worth N30 billion.
Otedola, being the largest shareholder, holds the highest voting shares, giving him power to dictate the direction of the bank through his voting power.
This breaking news got some people talking on social media about the sudden change of ownership. Someone thereby posted that the bank name should be renamed too and further suggested that it should be called “OFBN” which literally means Otedola First Bank of Nigeria.
Otedola is the highest single shareholder of FBN with 5% of the other diverse shares.
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