₦airaland Forum

From having a humongous loan portfolio of N192 billion in 2012 via his then Zenon Petroleum and Gas Ltd which was eventually passed on to the Asset Management Company of Nigeria, billionaire businessman, Femi Otedola has today taken over First Bank of Nigeria Plc with his recent acquisition of about N30 billion worth of shares, making him the single largest shareholder of the bank.

What this invariably means is that being the largest shareholder, he holds the highest voting shares and can dictate the direction of the bank through his voting power.

In 2019 when he divested his 75% direct and indirect shareholding in Forte Oil, via a merger of his company Zenon Oil and former African Petroleum, many wondered why he made such a decision especially because of the lucrative nature of the oil and gas sector.

They became all the more curious as to what his next move would be. He didn’t keep them guessing too long as he soon announced that he wanted to explore and maximize business opportunities in refining and petrochemicals.

Even though he also had investments in the real estate and financial sector, Otedola singled out First Bank for the single reason that there wasn’t exactly one man calling the shots there, unlike in other new generation banks.

He wasted no time in taking advantage of the leadership crisis that rocked First Bank not too long ago that the Central Bank of Nigeria sacking both the chairman of the bank, Ibukun Awosika and Obafemi Otudeko, the chairman of FBN Holdings.

Otedola made his moves and tday, he is the better for it.

klonboi:

zoo court!

FreeIgboho:
I ask you again, name one person that was killed by police and soldiers durring the nationwide protests, yet we SAW police and army kill lots of people!

FreeIgboho:
PEOPLE HAD PEOPLE DIE IN THEIR ARMS! AND SOME ARE STILL MISSING! (They took away bodies!). Ok, name one person or hoodlum killed durring the protest - yet we saw multiple videos of people being shot dead by police and soldiers!

FreeIgboho:
Hypocrites. What is this below?

DanHaske:
Who was killed at lekki toll gate?

Bluntguy:
Anything BBnaija just dey vex me ehn.

sarrki:
The lekki massacre was a ruse!!! Let them provide us with a victim?

It’s one year now

Yet the gullible believes the lies

Let them go protest in the east where UGM is killing innocent people

samwillyco1:
This NIGERIA anything is possible

DoggoneDogg:
They survived because the pilot is well-trained.
If say na Afonja pilot, he for don murd all de survivors carry their skulls run.

Fear Afonja o
E get why

samwillyco1:
It seems you are dreaming, I pray to God that one of the killers will be arrested and you be surprised to even know that he/she is not from the East/the sponsors he will mention.

I am totally against the killings going on in NIGERIA or any parts of the world, why destroy what you cannot crate? The people been killed are humans, fathers, mothers, brothers, sisters, husbands, wives etc, to people like you and me, the killings should stop, injustice should stop, intimidation should stop etc, what we need is peaceful place, country and world at Large.

samwillyco1:
DSS should be investigated since they cannot arrest the killers, SECURITY agents should be investigated by foreign Security Architecture, I see inside job the killers are well trained, I suspect powerful people are behind all these killings, this is very bad IMO is now a DEAD zone since the SUPREME Court changed the Governor of the STATE

Bryankentwood11:
Okay guys, I will make it short and simple, I have done everything possible for her, like I spoilt her with food and possibly money too, now she just feels comfortable at home , sleeping all day, then wakes up and demand money, I have been paying for one thing or the other every week of this relationship, I give her money for food and all, and she has parent, I feel like I’m suffocating, I can’t even save anymore, and she has a handwork but just too lazy or relentless to even work, guys advice me on this please

Fahdiga:
Ooni is a good king. [s]He learnt well from his mentor and helper the Obi of Onitsha[/s]. Long life to him