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We’re Unaware Of Otedola’s Share Acquisitions – FBN Holdings - Business (2) - Nairaland

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Re: We’re Unaware Of Otedola’s Share Acquisitions – FBN Holdings by omowolewa: 8:47am On Oct 23, 2021
Kk
Re: We’re Unaware Of Otedola’s Share Acquisitions – FBN Holdings by Nodogragra4me(m): 8:48am On Oct 23, 2021
smithoo:
FBN holdings will get back to us and confirm OTEDOLA is now the majority shareholder in FBN.

Diamond denied Access bank takeover but we all know the history now.

It a trade mark to deny report to avoid a run on the bank but laslas, they will acknowledge and management the situation well.


How can the news trigger a run?

1 Like

Re: We’re Unaware Of Otedola’s Share Acquisitions – FBN Holdings by GetMeRight: 8:51am On Oct 23, 2021
We4all:
The secretary sounds arrogant and condescending.

He only cleared the air surrounding the rumour and I guess you didn't like that.
Re: We’re Unaware Of Otedola’s Share Acquisitions – FBN Holdings by iwaeda: 8:53am On Oct 23, 2021
adenigga:


Source: https://punchng.com/We-are-unaware-of-Otedolas-share-acquisitions-FBN-Holdings
He could have bought from brokers fronting for him. He will NEVER openly using his name.
Re: We’re Unaware Of Otedola’s Share Acquisitions – FBN Holdings by GetMeRight: 8:53am On Oct 23, 2021
Ntipia:
It's like first Bank is in trouble or something funny is about to happen to people's money. Make I jeje go commot my small money from there. Because na how it dey take start.

AMCON is there, no need to panic

1 Like 1 Share

Re: We’re Unaware Of Otedola’s Share Acquisitions – FBN Holdings by omoadeleye(m): 8:54am On Oct 23, 2021
DubaiLandLord:
In the earlier report, a lot of details is missing.

They didn't tell us the percentage of the share Otedolar have.


They said he acquired MAJORITY shares which means above 51% shares
Re: We’re Unaware Of Otedola’s Share Acquisitions – FBN Holdings by topgear(m): 8:55am On Oct 23, 2021
Nodogragra4me:


Na before , him friend dangote don tie down him billions for refinery matter wey no dey start

No matter how e broke reach.
E no broke reach Dat guy full village peaple money add together times ten
Re: We’re Unaware Of Otedola’s Share Acquisitions – FBN Holdings by Nobody: 8:55am On Oct 23, 2021
omoadeleye:



They said he acquired MAJORITY shares which means above 51% shares
Thousands of people have shares in First Bank of Nigeria.
Majority can also be less than 51%

E fit get 15% make nobody get up to that 15% for the rest of the shareholders.

2 Likes

Re: We’re Unaware Of Otedola’s Share Acquisitions – FBN Holdings by oluwaseyi0: 8:56am On Oct 23, 2021
omoadeleye:



They said he acquired MAJORITY shares which means above 51% shares

Not necessarily above half, he may hold 20% while the highest after him holds less than 10

3 Likes

Re: We’re Unaware Of Otedola’s Share Acquisitions – FBN Holdings by Bizibi(m): 8:58am On Oct 23, 2021
Dialpad:
If 30 billion is all it takes to be the largest shareholder of a first generation bank in Nigeria, then Nigeria is in a big financial mess
big one

1 Like

Re: We’re Unaware Of Otedola’s Share Acquisitions – FBN Holdings by sisisioge: 9:08am On Oct 23, 2021
Dont beef Femi o....if he wants to acquire the whole lot he can tongue
Re: We’re Unaware Of Otedola’s Share Acquisitions – FBN Holdings by witworth(m): 9:08am On Oct 23, 2021
Dem don come again
Re: We’re Unaware Of Otedola’s Share Acquisitions – FBN Holdings by forenzy: 9:08am On Oct 23, 2021
He may aquire the shares through an offshore company controlled by him.Some policiIan's might also be using him as a font..
Re: We’re Unaware Of Otedola’s Share Acquisitions – FBN Holdings by Jidegaf(m): 9:08am On Oct 23, 2021
Nigeria and many drama.

Meanwhile you can invest by buying a flat on lease and generates income by renting
Re: We’re Unaware Of Otedola’s Share Acquisitions – FBN Holdings by etibaba(m): 9:10am On Oct 23, 2021
omoadeleye:



They said he acquired MAJORITY shares which means above 51% shares
A majority shareholder should have more than 50% of the shares, the right word for Otedola acquisition should be largest shareholder not majority shareholder.

1 Like

Re: We’re Unaware Of Otedola’s Share Acquisitions – FBN Holdings by We4all: 9:11am On Oct 23, 2021
GetMeRight:


He only cleared the air surrounding the rumour and I guess you didn't like that.

I don’t like arrogant folks.
Re: We’re Unaware Of Otedola’s Share Acquisitions – FBN Holdings by emmykk(m): 9:18am On Oct 23, 2021
Dialpad:
If 30 billion is all it takes to be the largest shareholder of a first generation bank in Nigeria, then Nigeria is in a big financial mess

I don't think he has majority shares as it is claimed
Re: We’re Unaware Of Otedola’s Share Acquisitions – FBN Holdings by Nobody: 9:18am On Oct 23, 2021
Wow so it’s possible some articles could come out but it doesn’t mean it’s true interesting
Re: We’re Unaware Of Otedola’s Share Acquisitions – FBN Holdings by etibaba(m): 9:18am On Oct 23, 2021
oluwaseyi0:


Not necessarily above half, he may hold 20% while the highest after him holds less than 10
I beg to differ, if you are termed as the Majority share holder then you should have more than half the shares, i think there's a mix up between majority shareholder and largest share holder here.
Re: We’re Unaware Of Otedola’s Share Acquisitions – FBN Holdings by Jackossky(m): 9:21am On Oct 23, 2021
etibaba:
I beg to differ, if you are termed as the Majority share holder then you should have more than half the shares.

Not really.

In business, being a majority share holder means you are the only one with the highest shares. It could be a 1% margin; just as long as you are the highest. You grab?



Edited: I am seeing some articles online that says it must be above 50%. Will get back to you on this.


Re-edited: You are actually right. I couldn't find a name for someone with the highest shares ( which is less than 50%)

4 Likes

Re: We’re Unaware Of Otedola’s Share Acquisitions – FBN Holdings by jaxxy(m): 9:22am On Oct 23, 2021
They didn’t deny or accept it. They are waiting for a notification from regulators which they will get.
Re: We’re Unaware Of Otedola’s Share Acquisitions – FBN Holdings by shegz24(m): 9:30am On Oct 23, 2021
MarveworldG:
First bank has started o

I think they said 70% or so.
Re: We’re Unaware Of Otedola’s Share Acquisitions – FBN Holdings by shegz24(m): 9:32am On Oct 23, 2021
Dialpad:
If 30 billion is all it takes to be the largest shareholder of a first generation bank in Nigeria, then Nigeria is in a big financial mess

It depends on the number of shareholders and how much each has.

He could be the largest share holder by owning 10% while the remaining 90% is shared among about 20 people.

So its possible.
Re: We’re Unaware Of Otedola’s Share Acquisitions – FBN Holdings by PoeticMind: 9:33am On Oct 23, 2021
omoadeleye:



They said he acquired MAJORITY shares which means above 51% shares

Oga that's not what it means, FBN's tier 1 and tier2 capital has a combined value above N400billion. How exactly does the purported N30 billion worth of shares acquired by Otedola give him 51% shareholding interest? A bank like FBN can have it's majority shareholder with ownership interest of anywhere between 9-15%, which will automatically give the shareholder significant voting rights. Even Otudeko at the height of his powers as FBN's majority shareholder did not maintain up to 15% ownership interest in the bank. Folks should always get their facts right before posting so the public is not misled. Cheers!

3 Likes

Re: We’re Unaware Of Otedola’s Share Acquisitions – FBN Holdings by nairabacks(f): 9:46am On Oct 23, 2021
Ntipia:
It's like first Bank is in trouble or something funny is about to happen to people's money. Make I jeje go commot my small money from there. Because na how it dey take start.

Seriously this is worrisome
Re: We’re Unaware Of Otedola’s Share Acquisitions – FBN Holdings by nosmassam(m): 9:51am On Oct 23, 2021
Aboki boy will blame MNK for this soon
Re: We’re Unaware Of Otedola’s Share Acquisitions – FBN Holdings by ppogba: 9:53am On Oct 23, 2021
Blackfire:
Poor otedola owning major shares in FBN... impossible


Nothing is impossible in Nigeria.
Tony Elumelu acquired UBA with a smaller STB from Bello- Osagie who himself acquired UBA through shady means.

Access Bank indebted to Intercontinental bank acquired same Intercontinental bank through shady means.

I can go on and on. It is only a neophyte that can say something is impossible in Nigeria.

1 Like

Re: We’re Unaware Of Otedola’s Share Acquisitions – FBN Holdings by baralatie(m): 9:55am On Oct 23, 2021
Ok!
Re: We’re Unaware Of Otedola’s Share Acquisitions – FBN Holdings by baralatie(m): 9:55am On Oct 23, 2021
ppogba:


Nothing is impossible in Nigeria.
Tony Elumelu acquired UBA with a smaller STB from Bello- Osagie who himself acquired UBA through shady means.

Access Bank indebted to Intercontinental bank acquired same Intercontinental bank through shady means.

I can go on and on. It is only a neophyte that can say something is impossible in Nigeria.
Re: We’re Unaware Of Otedola’s Share Acquisitions – FBN Holdings by SavageResponse(m): 9:57am On Oct 23, 2021
Maxymilliano:
Nobody is aware of anything in Nigeria. What a country!

They are correct in saying they are unaware because according to their register of shareholders Femi Otedola does not have majority shareholding.

He needs to do the proper documentation with proof before they can recognise him as a major share holder if indeed it is true that he made such a substantial acquisition
Re: We’re Unaware Of Otedola’s Share Acquisitions – FBN Holdings by nokspos: 10:01am On Oct 23, 2021
Not 30 Billion naira , i think its 30 billion worth of shares
Dialpad:
If 30 billion is all it takes to be the largest shareholder of a first generation bank in Nigeria, then Nigeria is in a big financial mess
Re: We’re Unaware Of Otedola’s Share Acquisitions – FBN Holdings by philiancoop(m): 10:05am On Oct 23, 2021
When he has disguised in various holding companies and vehicles nko

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