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Nigeria: Femi Otedola Will increase Stake in First Financial institution Holdings, Buys 546.7 Million Items of Shares

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Mr Femi Otedola, has elevated his stake in FBN Holdings, with the extra buy of N546, 674, 034 models of shares valued at N12.01 billion.

Info from the Nigerian Trade Restricted, NGX on Thursday revealed that Otedola purchased the shares by Calvados International Providers Restricted for N21.97 per share on the Trade.

Otedola prior to now had a 7.01% stake within the financial institution, behind Oba Otudeko’s Barbican Capital Restricted which holds an 8.67% stake.

Otedola has had investments in port company, transport, storage and insurance coverage brokerage. In 2007, he acquired a controlling curiosity in African Petroleum, which later metamorphosed into Forte Oil. Forte Oil was later bought and renamed Ardova.

Geregu Energy, which he took public in October 2022, accounts for about 9 per cent of Nigeria’s grid electrical energy.

He has held a number of board memberships, together with President of the Nigerian Chamber of Transport and as previous Chairman of Transcorp Hilton Resort, Abuja.

Vanguard Information Nigeria



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