OFFICIAL: Femi Otedola emerges majority shareholder of FBNH

Billionaire investor, Femi Otedola has declared 5.03 per cent ownership for FBNH, Nigeria’s oldest bank. This was confirmed in a letter published by FBNH on the websites of the Nigerian Exchange.

We earlier reported that Otedola acquired over 5 per cent of the bank after acquiring shares of the bank over a protracted period.

According to the letter dated October 23rd 2021 and signed by Seye Kosoko, the company secretary, the bank confirmed Mr. Otedola Olufemi Peter and his nominee, Calvados Global Services Limited have acquired a total of 1,818,551,625 units of shares from the Company’s issued share capital of 35,895,292,791.

The total shareholding has now taken Mr. Otedola’s ownership to 5.07 per cent more than any other single shareholder on record.

FBNH said: “We refer to our communication to the market dated October 22, 2021 on the above subject wherein we stated that we would inform the public of any substantial acquisition, upon receipt of notification from the Shareholder.

This morning, October 23, 2021, FBN Holdings Plc received a notification from APT Securities and Funds Limited, that their Client, Mr. Otedola Olufemi Peter and his nominee, Calvados Global Services Limited have acquired a total of 1,818,551,625 units of shares from the Company’s issued share capital of 35,895,292,791.

Based on the foregoing, the equity stake of Mr. Otedola Olufemi Peter and his nominee in the Company is now 5.07 per cent.”