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First Bank Holding Confirms Femi Otedola As A Significant Shareholder - Business - Nairaland

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First Bank Holding Confirms Femi Otedola As A Significant Shareholder by Nobody: 8:12am On Oct 24, 2021
Following an Earlier Denial, First Bank Holding Confirms Femi Otedola as a 'Significant' Shareholder

FBN Holdings Plc, is the non-operating holding company that owns First Bank of Nigeria, one of Nigeria's biggest bank In March this year, the Central bank of Nigeria dissolved the FBHN Board, and report has it Oba Otudeko, has since placed his shares up for sale Femi Otedola have purchased more than 5% of the company's shares, making him immensely influential in the company's decision-making.

FBN Holdings (FBNH) Plc, the parent company of First Bank, on Saturday confirmed that Femi Otedola has acquired a 5.07 percent equity stake in the company. The confirmation comes less than 24 hours after the company denied notification of possible acquisition of shares by the charismatic billionaire. Legit.ng had earlier reported that FBN Holdings Plc on friday denied knowledge of Otedola acquiring buying the shares of the company.

The company followed the statement with a warning to the public to disregard any information of a take over. However, FBNH Company Secretary, Seye Kosoko, in another statement on Saturday posted on the Nigerian Exchange (NGX) Ltd website affirmed that Otedola and his nominee now own 5.07 per cent equity stake in the company. The statement reads: "We refer to our market disclosure on the aforementioned issue dated October 22, in which we stated that we will notify the public of any significant purchase upon receipt of information from the Shareholder." "FBN Holdings Plc received notice from APT Securities and Funds Ltd this morning, October 23, 2021, that their client, Mr Otedola Olufemi Peter, and his nominee, Calvados Global Services Ltd, had purchased a total of 1,818,551,625 units of shares from the company's issued share capital of 35,895,292,791."

First Bank GMD, U.K Eke, makes a whopping N15.35million In a related report, legit revealed that First Bank Nigeria Holdings' Group Managing Director, Urum Eke, made over over N15.35 million in eight hours today.
First Bank GMD, U.K Eke, makes a whopping N15.35 million after Femi Otedola reportedly takes over First Bank Eke's total investment in First Bank is now worth N1.25 billion today, but during this period last year, the GMD was valued at N520.13 million. The report shows that Otedola potential take over helped First Bank stock value skyrocketing since the beginning of October 2021.
https://www.legit.ng/business-economy/1440127-femi-otedola-confirmed-major-shareholder-fbn-holdings/

19 Likes 1 Share

Re: First Bank Holding Confirms Femi Otedola As A Significant Shareholder by Chynwe(f): 8:52am On Oct 24, 2021
Finally, it's been confirmed.Thumbs up to Femi Otedola

67 Likes 5 Shares

Re: First Bank Holding Confirms Femi Otedola As A Significant Shareholder by orisa37: 9:19am On Oct 24, 2021
FBN HOLDING PLC IS A CHARADE, A SHARIA, A SPLINTER AND AN OIC ARRANGEMENT.

FIRST BANK PLC IS OWNED PRIMARILY BY THE BOARD OF THE ORDINARY SHAREHOLDERS. CAMA RULES SUPREME.

12 Likes 1 Share

Re: First Bank Holding Confirms Femi Otedola As A Significant Shareholder by orisa37: 9:28am On Oct 24, 2021
FBN HOLDING PLC IS A CHARADE, A SHARIA, A SPLINTER AND AN OIC ARRANGEMENT.

FIRST BANK PLC IS OWNED PRIMARILY BY THE BOARD OF THE ORDINARY SHAREHOLDERS. CAMA RULES SUPREME.

THE CBN HAS NO ROLE TO PLAY IN THE OWNERSHIP OF ANY BANK. OTUDEKO AND OTEDOLA ARE BEING USED IN A RUGA TAKEOVER AND I SUSPECT EMEFIELE'S INTERVENTION.

3 Likes 2 Shares

Re: First Bank Holding Confirms Femi Otedola As A Significant Shareholder by kettykin: 9:30am On Oct 24, 2021
I sincerely hope they will not kill this bank as the control for the Bank goes from market place to the board room

45 Likes 3 Shares

Re: First Bank Holding Confirms Femi Otedola As A Significant Shareholder by morikee: 9:55am On Oct 24, 2021
Ok o

2 Likes

Re: First Bank Holding Confirms Femi Otedola As A Significant Shareholder by berbs: 9:55am On Oct 24, 2021
I thought dem be dey deny before.

1 Like 2 Shares

Re: First Bank Holding Confirms Femi Otedola As A Significant Shareholder by vibbb: 9:55am On Oct 24, 2021
Wow, more than 5% of the company's shares, making him immensely influential in the company's decision-making. God please bless mii.

33 Likes 4 Shares

Re: First Bank Holding Confirms Femi Otedola As A Significant Shareholder by psychologist(m): 9:56am On Oct 24, 2021
Even the financial institution have been infested by lie Mohammed

32 Likes 2 Shares

Re: First Bank Holding Confirms Femi Otedola As A Significant Shareholder by TempUser: 9:56am On Oct 24, 2021
#First we define the variables
book_price = float(input("Enter Book Price: "wink)
discount_rate = float(input("Enter Discount in %: "wink)
shipping_rate = float(input("Enter Shipping Cost per book: "wink)
books_ordered = float(input("Enter the number of books ordered: "wink)

#Then let's make some calculations of discount price,shipping and the total cost
discount_price = (book_price * discount_rate / 100)
shipping_cost = (shipping_rate * books_ordered)
total_cost = ((book_price - discount_price) * books_ordered) + (shipping_cost * books_ordered)

#Now we print our statements as required:
print("Cost of Book : ", book_price)
print("Less discount price: ", discount_price)
print("Shipping cost : ", shipping_cost)
print("Number of Books ordered : ", books_ordered)
print("Total Wholesale Cost : ", total_cost)

16 Likes 2 Shares

Re: First Bank Holding Confirms Femi Otedola As A Significant Shareholder by Nobody: 9:57am On Oct 24, 2021
n
Re: First Bank Holding Confirms Femi Otedola As A Significant Shareholder by incogni2o: 9:57am On Oct 24, 2021
After Initially denying

3 Likes

Re: First Bank Holding Confirms Femi Otedola As A Significant Shareholder by karzyharsky(m): 9:57am On Oct 24, 2021
Yssgg

1 Like 3 Shares

Re: First Bank Holding Confirms Femi Otedola As A Significant Shareholder by Bewiseedet(m): 9:58am On Oct 24, 2021
Finally ote$. Why did they deny the news at first.

2 Likes

Re: First Bank Holding Confirms Femi Otedola As A Significant Shareholder by kalu61(m): 9:58am On Oct 24, 2021
berbs:
I thought dem be dey deny before.
grin
Re: First Bank Holding Confirms Femi Otedola As A Significant Shareholder by Kobicove(m): 9:59am On Oct 24, 2021
The initial news which stated that he took over the bank was misleading undecided

21 Likes 1 Share

Re: First Bank Holding Confirms Femi Otedola As A Significant Shareholder by pitroski(m): 9:59am On Oct 24, 2021
Yeye bank without loan

1 Like

Re: First Bank Holding Confirms Femi Otedola As A Significant Shareholder by Kemight15: 10:00am On Oct 24, 2021
Yeye people

The head of their PR and head of media need to be fired

Less than 24 hours ago they claimed they didn't know dj cuppy's father and even referred to him as 'one man' now they are saying he's their oga patapata at the top

What does it cost them to first do their finding about who their latest sheriff in town is before running their mouth in the media like malami, apc and pdp?

39 Likes 3 Shares

Re: First Bank Holding Confirms Femi Otedola As A Significant Shareholder by mrkels(m): 10:01am On Oct 24, 2021
Why is the end of the article talking about take over ? With 5% stake ? Is the writer high or just incredibly stupid ?

52 Likes 1 Share

Re: First Bank Holding Confirms Femi Otedola As A Significant Shareholder by toblosky(m): 10:02am On Oct 24, 2021
Taught you have to have atleast 51% for a full takeover

28 Likes 1 Share

Re: First Bank Holding Confirms Femi Otedola As A Significant Shareholder by SavageResponse(m): 10:02am On Oct 24, 2021
There should be a law precluding an individual who has non-performing loans from acquiring significant shares in a financial institution!

19 Likes 1 Share

Re: First Bank Holding Confirms Femi Otedola As A Significant Shareholder by afamaustin(m): 10:03am On Oct 24, 2021
And l only HV #25,806,00.God give me the wisdom to be billionaire.

12 Likes 1 Share

Re: First Bank Holding Confirms Femi Otedola As A Significant Shareholder by UselessBuharist: 10:03am On Oct 24, 2021
God give me the kind money wey I nor go fit write my net worth in figure
Re: First Bank Holding Confirms Femi Otedola As A Significant Shareholder by Validated: 10:03am On Oct 24, 2021
karzyharsky:
Yssgg
Is 5% the big deal? FBN can easily dilute the holdings by creating additional shares and repuchase a large chunk thereby reducing his stake to less than 5%

19 Likes 1 Share

Re: First Bank Holding Confirms Femi Otedola As A Significant Shareholder by DirtyGold: 10:03am On Oct 24, 2021
The FBN holding company behaved like a government agency, quick to deny only to somersault within 24hours.

I thought the sale was for a share of over 50% sef... nonsense!

What's tha business?

10 Likes 1 Share

Re: First Bank Holding Confirms Femi Otedola As A Significant Shareholder by Crochet: 10:04am On Oct 24, 2021
Good one

1 Like

Re: First Bank Holding Confirms Femi Otedola As A Significant Shareholder by Sirlins(m): 10:04am On Oct 24, 2021
Una just dey confuse us, e follow abi e no follow
First bank dropped statement that he's one of the highest shareholders last week, yesterday they said they never said so and today again they said he's the number one ........una dey ment ...

5 Likes

Re: First Bank Holding Confirms Femi Otedola As A Significant Shareholder by goaldynboy: 10:05am On Oct 24, 2021
kalu61:
grin

If with N35b he can acquire 5% of the Bank's equity;
Since 5% X 20 squalls to 100%

It necessarily follows that the bank is worth:

N35b X 20, which is equal to:

N700b

18 Likes 5 Shares

Re: First Bank Holding Confirms Femi Otedola As A Significant Shareholder by pickatyoubackup: 10:06am On Oct 24, 2021
This is the country I know of where people who are meant to be the first to know become the last to know or do not know at all.

4 Likes 2 Shares

Re: First Bank Holding Confirms Femi Otedola As A Significant Shareholder by janedonez(m): 10:06am On Oct 24, 2021
Congratulations

1 Like

Re: First Bank Holding Confirms Femi Otedola As A Significant Shareholder by baralatie(m): 10:07am On Oct 24, 2021
kettykin:
I sincerely hope they will not kill this bank as the control for the Bank goes from market place to the board room

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