Otedola replaces Arisekola as largest individual shareholder in First Bank

CBN Governor Emefiele

Lagos – Business mongul, Mr Femi Otedola, has increased his stake in Nigeria’s oldest bank, First Bank PLC by acquiring additional 2.5 per cent of its shares.

With this , Otedola’s stake in the bank has moved to 7.5 per cent, thereby making him the largest inividual shareholder of the bank.

Otetoda in a letter dated December 9 notified the Group Managing director of FBN Holdings of his new shareholding status in the bank.

He and his nominees now own a total of 2.717 billion unit of shares of the bank.

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Otedola holds 210 million directly, 1.989 billion through Calvados Global Services Limited, 170 million through Primrose Global Concept, 175 million through Shetland Global, 120 million through Wells Properties and 53 million through Impetus Synergy.

Otedola is replacing late Ibadan business man, Alhaji Abdulazeez Arisekola Alao who wasthe largest individual shareholder of the bank until his death few years back.(vitalnews)