First Bank Says Yet to Receive Notification on Otedola’s Shareholding

FBN Holdings Plc the parent company of First Bank of Nigeria says it is yet to be notified that an individual (Femi Otedola) has acquired significant shareholding interest in the Group, therefore making him the majority shareholder in the Company.

“The Company is yet to receive any notification from the individual mentioned in the media report, of such acquisitions. FBN Holdings Plc will always notify the appropriate agencies and authorities whenever it receives any notice of significant shareholding by Shareholders and the Company’s Registrars,” FBN Holdings said in a statement posted on the Nigerian Exchange Group.

“As a listed Company, the shares of FBN Holdings Plc are publicly traded, and sale and acquisition of shares is expected in the normal course of business. We operate in a regulated environment, which requires notification of significant shareholding by shareholders to the Company, where shares are held in different vehicles, further to which the Company will notify the regulators and the public as appropriate.”