Congratulations Sir. More wins...

This was the position held by Ibukun Awosika before she was ceremoniously eased out of her position

Now, they have given the position to Femi Otedola...is like Femi Otedola is broke, that is the reason he can be clinging to all these sully position from bank...

Dangote can not take this kind of position because it is smaller than his worth instead of Dangote becoming a CEO of an already existing business, he creates his own and merges it Dangote Group of company

Femi Otedola is broke

above2811:
.
Points of correction, she's in Oxford uni, studying.

Ok..
And she is still gallivanting as a student Djay??
..
Or learning how to be a capitalist too??

NOC1:
wow, Congratulations to him. This is quiet doings not showing off, doings get levels.

Real big boys don’t make noise or show off.All those people spraying and lavishing money are small rats

ElValiente:
Silent Billionaires. Ote and Adenuga don't shout at all. Even Alhaji Aliko dangote. Or Bua yes some token spender go dey shout Anambla money upandan. See real money. Ehn. Odua Amaka.

Femi Otedola is too refined and well educated..

Hope account holders will not be indirectly sponsoring DJ cuppy through bank charges

Good decision

ElValiente:
Silent Billionaires. Ote and Adenuga don't shout at all. Even Alhaji Aliko dangote. Or Bua yes some token spender go dey shout Anambla money upandan. See real money. Ehn. Odua Amaka.

No be by noise nah.

Grace001:
The rich get richer and the poor get poorer.

Indeed for to him who has will more be given, and he will have abundance, but from him who has not, even what he has will be taken away.

Congratulation to him

Why will that of the poor be taken away from them when they are asking for more.

May this never be our portion

IMNJ ( In the mighty name of Jesus )

Amen !

Congrats to him.....one bank that I'd love to take over someday is zenith bank and gtbank.

BluntNigerian:
Capitalists Everywhere.!!
..
And Cuppy is there gallivanting with DJ-Equipments

That I why she is going to Oxford. When she graduates she will most likely be an ED of the bank.
In her voice.. whose your daddy.....

adelaja70:

Omo ibo... Mr Anayo,Keeduu!..Otedola father, was a millionaire and former governor of Lagos State. And when you still dey suck mama breast, he was already balling with his fellow Omo baba Olowo in Nigeria.

Ignore that Ibo boy.
Everyone knows that they are always bitter to see other tribes succeed.

But if one of them is doing crime and becomes rich, he is seen as a hero.

It is that bitterness that runs in their veins that made them planned the coup of Jan 1966 where they killed gallant leaders from other tribes.

WesternOligarch:
Congrats to him.....one bank that I'd love to take over someday is zenith bank and gtbank.

Where Ovia dey?

Just 30billion. So Davido fit take over some banks too since he get 30billion for account.

This is the begining of the End of First Bank Holdings.

Elliotwaveforec:

Where Ovia dey?

Where there's money, there's a way...

Oracleforce:
This was the position held by Ibukun Awosika before she was ceremoniously eased out of her position

Now, they have given the position to Femi Otedola...is like Femi Otedola is broke, that is the reason he can be clinging to all these sully position from bank...

Dangote can not take this kind of position because it is smaller than his worth instead of Dangote becoming a CEO of an already existing business, he creates his own and merges it Dangote Group of company

Femi Otedola is broke

You are so loud and so wrong.
Chairman of a bank is different from the shareholders (owners of the bank).The chairman and the board of directors answer to the shareholders.


The chairman is appointed by the board of directors & CBN. The most important requirement is dt it's someone with industry knowledge to oversee the MD and directors. He earns a salary.


Ibukun awosika was a chairman. She earned a chairman's salary. She doesn't have billions to buy a majority shareholding stake. Elumelu was also only a chairman in UBA, until he recently increased his shareholding to become the largest shareholder in UBA. He didn't use his chairman salary to buy dt. He has an investment company, Heirs holdings, dt made him rich enough to do dt.

Femi otedola is now the majority shareholder (owner) of first bank. He would have a say in who becomes chairman. He would only be appointed as chairman if CBN deems him appropriate for the role. It has to be someone wt years of experience in the banking industry.

All of u shouting u love this eh if they tell u what dirt goes down u will keep quiet.

Now we know who drove the share price from N7. 50 to N12.70 in less than four weeks. The masquerade has been unmasked. Wishing him and FBNH the best. Please push the share price further by acquiring more.

aspabay:
Exclusive! Femi Otedola takes over First Bank as largest shareholder with N30bn

https://thestreetjournal.org/exclusive-femi-otedola-takes-over-first-bank-as-largest-shareholder-with-n30bn/

N30B worth of shares, making him the single largest shareholder of the organization….I don’t believe this info is correct.

Siwisheswereesh:
I thought he had sunk his Forte oil sale proceeds in Dangote refinery

This is rather a wise move. Kudos.

By now he must have realized what a big risk he took betting on the Dangote refinery. Even Dangote would learn a big lesson about neo-colonialiam from that refinery. There's a good chance the whole project could be sold as scrap sooner or later.

Maxwell4404:
And your daughter an DJ

type well ode

musicwriter:


By now he must have realized what a big risk he took betting on the Dangote refinery. Even Dangote would learn a big lesson about neo-colonialiam from that refinery. There's a good chance the whole project could be sold as scrap sooner or later.

That refinery matter no be here.

I had seriously banked on it for too long to help us solve for our fuel and dollar problems.

Unfortunately, I have been disappointed again and again. I think I have given up.

Thank God Otedola did not sink his all into the refinery.

Those ones that masturbate with anything Afonja will avoid this thread like plague.
Tribalism doesn't pay. It reflects the state of your bitterness. You can be great irrespective of tribe
Get a life oh you tribal bigots.

Congrats Otedola

Siwisheswereesh:


That refinery matter no be here.

I had seriously banked on it for too long to help us solve for our fuel and dollar problems.

Unfortunately, I have been disappointed again and again. I think I have given up.

Thank God Otedola did not sink his all into the refinery.

Dangote is a victim of a giant scam set up for him like a trap for years. The problem (like every other scam victim) is how to get him to understand that. He could actually come out poor from that refinery, else he will become the richest man in the world in as little as 10 years if it was a real business.

Congratulations to him on his new milestone.... Meanwhile for those looking to purchase quality earbuds with: long battery life, IPX5 sweat & water rating, ENC, dual smart modes, and lots more. The oraimo specially tuned edition of 2baba freepod 3, meets and exceeds expectations. Order yours via the link below my signature...

OminickConcept:
[s]If the name was igbo this thread would be so full of praises from left right and center. Now money is talking from the west and they are all quite.
When we start appreciating ourselves as one human will be the beginning of our progress.

[/s]



There are at least 20 igbo businessmen who could drop N30 billion to buy shares in First Bank if that is where their interest lie. They are simply not interested.

In Today's Nigeria, N30billion is no longer a big deal. It's in NAIRA not DOLLAR.

So, stop beating your chest.

jeronimo:


Young man you are looking at from ECO 101 perspective. For an establishment as huge as First Bank where there are thousands of shareholders, someone with as little as 25% can be the highest shareholder which puts him in the position of the controlling shareholder. Provided no other individual or group owns as much shares as he does in that particular organisation. Economic experts in the house kindly confirm

Definitely you are. Mark Zuckerberg owns 14% of Facebook while Elon musk owns 20% of Tesla. Yet they control the company, though their control can also be attributed to the fact that they were founders as well.

On a daily basis I read a lot of tribalistic comments and attacks on nairaland, can’t we just celebrate someone’s win without dragging tribalistic shading and bashing into it?? Why drag Igbo or Yoruba or Hausa into this piece of news?? You guys need to stop this.

Something is inherently wrong with Nigerians. I don't know if it's just me holding Nigerians to an unrealistic high standard or Nigerians are grossly mediocres or perhaps we suffer long term memory loss or we're actually as idiotic as the politicians think we are. This news is saying that First Bank is in a financial mess but Nigerians are too slow to understand. They're celebrating.

How can Nigerians be celebrating a miserly $50M investment in one of the biggest financial institutions in Nigeria? If $50M is enough to snatch the seat of majority shareholder in an institution older than Nigeria itself and perhaps the biggest bank in Nigeria, one begins to question the true financial health of our banks.

For perspective, $50M cannot make you a majority shareholder in Jumia, neither can it make you a majority shareholder in startups such as flutterwave, OPay, WakaNow, Jobberman, Konga, Iroko, SOLO and many more. Sequoia Capital had to invest $400 million in OPay to own majority share in the start-up.

Nigeria is in a financial mess and her billionaires are becoming millionaires while her financial institutions are dying rapidly. This news is not one to celebrate, it's one that fosters a deep sober reflection.

Speaking of Otedola, here is a man who was worth $1.9 Billion in 2016, having lost his billionaire status due largely to incompetence and mismanagement of the economy by the Government, now trying to diversify his portfolio to secure what's left of his dignity and Nigerians are celebrating a miserly $50M investment from a once upon a time billionaire. I'm not even going to talk about Aliko Dangote who was worth $23 billion in 2016 now worth $12 Billion.

BluntNigerian:
Capitalists Everywhere.!!
..
And Cuppy is there gallivanting with DJ-Equipments

That is her life,her choice. That is what gives her joy....she's not working for money but satisfying her inner soul.

Poor people like you always reason thru their anus