Otudeko, Odukale Make History After Selling ₦323.45bn FBN Shares To RC Investmen - Business

Otudeko, Odukale Make History After Selling ₦323.45bn FBN Shares To RC Investmen - Business - Nairaland

Nairaland Forum › Nairaland General › Business › Otudeko, Odukale Make History After Selling ₦323.45bn FBN Shares To RC Investmen (11137 Views)

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Otudeko, Odukale Make History After Selling ₦323.45bn FBN Shares To RC Investmen by TimeManager(op): 3:21pm On Jul 21, 2025

Companies said to been owned by Oba Otudeko and Tunde Hassan-Odukale have made history after they sold a total of 10.433 billion First Holdco shares to a relatively unknown company- RC Investments Management Limited, in a deal valued at N323.45 billion,

This development is the highest off-market transaction ever seen on the NGX.

According to the report by a business medium, the buyer company is linked to one Samuel Babatunde Sule. Sule’s RC Investment acquired approximately 7.787 billion shares from Barbican Capital and RAML, entities associated with Oba Otudeko.

RC Investments also bought 2.647 billion shares from entities related to the former chairman of First Bank of Nigeria, Tunde Hassan-Odukale. The entities include Hassan-Odukale himself, Leadway Holdings, Leadway Pensure PFA, Haskal Holdings, and Leadway/NNPC Staff Pension Investment.

Hassan-Odukale is the founder of Leadway, as well as the Group Managing Director of Leadway Holdings.

Sule also has ties to four other companies, namely RC Africa Limited, Avuso Payment, Odde Properties, and Green Arrow Services Limited.

The sale was brokered by the CBN to help resolve a leadership tussle at the helm of the bank that has served as a major distraction for the bank’s capital raising plans.

https://businesstodayng.com/otudeko-odukale-make-history-after-selling-n323-45bn-fbn-shares-to-rc-investments/

6 Likes 1 Share

Re: Otudeko, Odukale Make History After Selling ₦323.45bn FBN Shares To RC Investmen by TimeManager(op): 3:28pm On Jul 21, 2025

Met these men at a couple of gala nights, I saw simplicity, no noise. Get money and tame it, don't allow it turn you wild and uncouth.

-Kiss the truth!

62 Likes 4 Shares

Re: Otudeko, Odukale Make History After Selling ₦323.45bn FBN Shares To RC Investmen by SalamRushdie: 3:32pm On Jul 21, 2025

It was bought by Otedola I gather ..this 40 character thing sha

2 Likes

Re: Otudeko, Odukale Make History After Selling ₦323.45bn FBN Shares To RC Investmen by Udaro: 3:39pm On Jul 21, 2025

That's massive. More great news like this is what we like to hear

Re: Otudeko, Odukale Make History After Selling ₦323.45bn FBN Shares To RC Investmen by Parydelegate: 3:40pm On Jul 21, 2025

Please do not post adverts in this section, to avoid being banned.

1 Like

Re: Otudeko, Odukale Make History After Selling ₦323.45bn FBN Shares To RC Investmen by Jamsam: 3:41pm On Jul 21, 2025

Money don't make noise, congratulations sir more wealth

9 Likes 1 Share

Re: Otudeko, Odukale Make History After Selling ₦323.45bn FBN Shares To RC Investmen by igwedubai2(m): 3:41pm On Jul 21, 2025

Udaro:
DMet these men at a couple of gala nights, I saw simplicity, no noise. Get money and tame it, don't allow it turn you wild and uncouth.

wow! U mean they look simple abi ? Who get amm no dy make noise jare

2 Likes

Re: Otudeko, Odukale Make History After Selling ₦323.45bn FBN Shares To RC Investmen by Iran2025: 3:43pm On Jul 21, 2025

That's huge.... many people don't have upto 500k in their accounts

Please take a moment to write a quality post with at least 40 characters.

Re: Otudeko, Odukale Make History After Selling ₦323.45bn FBN Shares To RC Investmen by TimeManager(op): 3:44pm On Jul 21, 2025

SalamRushdie:
It was bought by Otedola I gather ..this 40 character thing sha

Fake news, Otedola had nothing to do with it. Are you aware that Stanbic IBTC was the overseer?. The records are there on the stock exchange, Thisday/Arise sold you a lie.

-Kiss the truth!

9 Likes 1 Share

Re: Otudeko, Odukale Make History After Selling ₦323.45bn FBN Shares To RC Investmen by SatoshiX: 3:44pm On Jul 21, 2025

The real old money. No. Be some lousy new takers living fake lives to impress the gram.

7 Likes

Re: Otudeko, Odukale Make History After Selling ₦323.45bn FBN Shares To RC Investmen by Exousiang01(m): 3:44pm On Jul 21, 2025

SalamRushdie:
It was bought by Otedola I gather ..this 40 character thing sha

You gatherwd wrong.
Ote$ never bought it.
Even the report clearly says it was bought by RC yet you still stuck to your unconfirmed information.
This is one of the many problems with Africans, the inability to unlearn and relearn, which is actually equal to illiteracy in the 21st century.

7 Likes 1 Share

Re: Otudeko, Odukale Make History After Selling ₦323.45bn FBN Shares To RC Investmen by Kaa4(m): 3:44pm On Jul 21, 2025

Corporate changes at the top: Some go down and one goes up. Is it Otedola.

Why should Leadway surrender, if Otudeko is in not in the good books of the CBN

Re: Otudeko, Odukale Make History After Selling ₦323.45bn FBN Shares To RC Investmen by Emnyte(m): 3:45pm On Jul 21, 2025

Exousiang01:
This is just hitting front page on Nairaland?
Seun what are your boys doing?
Sleeping??

E be like say you dey over pay them.

Dem no value their work

you don't have to be the devil's advocate. Apply small Emotional intelligence

2 Likes

Re: Otudeko, Odukale Make History After Selling ₦323.45bn FBN Shares To RC Investmen by Celestialsword: 3:45pm On Jul 21, 2025

TimeManager:
Met these men at a couple of gala nights, I saw simplicity, no noise. Get money and tame it, don't allow it turn you wild and uncouth.

-Kiss the truth!

People that has real wealth doesn't flaunt it,

It's the poor that really shows off

Empty vessels makes the loudest noise.

When you make or have much money, your aim it to lie low and protect it

6 Likes 2 Shares

Re: Otudeko, Odukale Make History After Selling ₦323.45bn FBN Shares To RC Investmen by Ferdinandu(m): 3:47pm On Jul 21, 2025

A company that was just registered abroad just a while ago just bought up a controlling share in one of Nigeria's biggest company and oldest bank. Uncle tell us a story about corruption and theft.

5 Likes

Re: Otudeko, Odukale Make History After Selling ₦323.45bn FBN Shares To RC Investmen by Eastcoastboy(m): 3:49pm On Jul 21, 2025

Omoh, I keep wondering how these men sleep at night knowing they have such money.

First off, where did this money originate from? Like where was the source? Government, Private business or Diaspora remittance?

3 Likes

Re: Otudeko, Odukale Make History After Selling ₦323.45bn FBN Shares To RC Investmen by Tjra: 3:49pm On Jul 21, 2025

If it's not Otedola, then who is behind RC Investment?

N323.45Bn is the budget of some states if I am not mistaken.

Oh boy!

Re: Otudeko, Odukale Make History After Selling ₦323.45bn FBN Shares To RC Investmen by Ritchiee: 3:55pm On Jul 21, 2025

Celestialsword:
People that has real wealth doesn't flaunt it,

It's the poor that really shows off

Empty vessels makes the loudest noise.

People that "have" real wealth "don't" flaunt it,

It's the poor that really shows off.

3 Likes 1 Share

Re: Otudeko, Odukale Make History After Selling ₦323.45bn FBN Shares To RC Investmen by WhizdomXX(m): 3:56pm On Jul 21, 2025

Old money in this Country no be anybody mate. First.

4 Likes 2 Shares

Re: Otudeko, Odukale Make History After Selling ₦323.45bn FBN Shares To RC Investmen by Funflipper: 4:00pm On Jul 21, 2025

Tjra:
If it's not Otedola, then who is behind RC Investment?

N323.45Bn is the budget of some states if I am not mistaken.

Oh boy!

It is the same funds they stole from the national treasury that is being used to buy these shares.

1 Like

Re: Otudeko, Odukale Make History After Selling ₦323.45bn FBN Shares To RC Investmen by TheBillyonaire: 4:00pm On Jul 21, 2025

Someone is out to outsmart Otedola.

What will happen now?

That is a $217 million USD transaction.

4 Likes

Re: Otudeko, Odukale Make History After Selling ₦323.45bn FBN Shares To RC Investmen by selleniza: 4:05pm On Jul 21, 2025

Which Oba be this one again, how did he acquire such large amount of shares.

Re: Otudeko, Odukale Make History After Selling ₦323.45bn FBN Shares To RC Investmen by etrouble: 4:20pm On Jul 21, 2025

Corporate thieves milking the masses and stiffing the poor

Re: Otudeko, Odukale Make History After Selling ₦323.45bn FBN Shares To RC Investmen by etrouble: 4:22pm On Jul 21, 2025

TimeManager:
Met these men at a couple of gala nights, I saw simplicity, no noise. Get money and tame it, don't allow it turn you wild and uncouth.

-Kiss the truth!

If you are in the financial industry m, you will know that they are devilish thieves

Re: Otudeko, Odukale Make History After Selling ₦323.45bn FBN Shares To RC Investmen by etrouble: 4:24pm On Jul 21, 2025

Funflipper:
It is the same funds they stole from the national treasury that is being used to buy these shares.

Unfortunately you are right. Working in the IT department of three of the biggest banks in the country, I saw money move from government accounts to individual accounts without any contract or job being done. As far as I could see, there were no documents proving the monies moving were payments for contracts

5 Likes