Popular Billionaire businessman, Mr Femi Otedola has emerged as the chairperson of the board of FBN Holdings Plc, whose flagship company is First Bank. He was appointed to the role during a meeting of the Board of Directors of the Group in Lagos on Wednesday, January 31, and he succeeds Ahmad Abdullahi, a seasoned economist who was appointed chair of the Holdco on 17 December 2021.
Otedola, who is also chairman of Geregu Power Plc, became a non-executive director of FBN Holdings on 14 August 2023, months after he acquired a substantial stake in First Bank.
Otedola is First Bank’s biggest and only substantial shareholder, holding a 5.6 per cent stake.
WOW.
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