Billionaire Businessman and investor, Femi Otedola Acquires First Bank Nigeria for ₦30 Billion Naira

First Bank: Femi Otedola confirmed majority shareholder of FBN Holdings with 7.57%

Nigerian billionaire businessman and investor, Femi Otedola, on Friday, reportedly took over First Bank of Nigeria Plc.

According to The Street Journal, Otedola took over the bank with the acquisition of about ₦30 billion worth of shares, making him the single largest shareholder of the bank.

Otedola, being the largest shareholder, holds the highest voting shares, giving him power to dictate the direction of the bank through his voting power.

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It was gathered that Otedola decided to take over First Bank Nigeria because of the internal crisis rocking the bank.

Recall that the leadership crisis rocking the bank led to the Central Bank of Nigeria sacking both the chairman of the bank, Ibukun Awosika and Obafemi Otudeko, the chairman of FBN Holdings.

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On the entertainment scene, BBNaija Host Ebuka revealed in his latest interview with beat FM that 99% of A-list celebrities want to feature on Big Brother Naija (watch video here).

Meanwhile, Tiwa Savage who has been embroiled with the aftermath of her Private Video leaking on the internet, stepped out for the first time last night (watch the video here).

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