First Bank Confirms Otedola’s Acquisition of ‘Substantial’ Stake in Holdings

Femi Ashekun/

FBN Holdings Plc, the holding company for First Bank of Nigeria Limited, has announced that the Chairman of Calvados Global Services Limited, Mr Femi Otedola, has acquired substantial shareholding in the company.

FBN Holdings made the announcement in a statement issued on the Nigerian Exchange Limited’s portal yesterday.

The statement, signed by the company secretary, Mr Seyi Kosoko reads, “We refer to our communication to the market dated, October 22, 2021 on the above subject wherein we stated that we would inform the public of any substantial acquisition, upon receipt of notification from the shareholder.

“This morning, October 23, 2021, FBN Holdings Plc received a notification from APT Securities and Funds Limited, that their client, Mr Otedola Olufemi Peter, and his nominee, Calvados Global Services Limited have acquired a total of 1,818,551,625 units of shares from the company’s issued share capital of 35,895,292,791.

“Based on the foregoing, the equity stake of Mr Otedola Olufemi Peter and his nominee in the company is now 5.07 per cent.”

On Friday, FBN Holdings Plc had denied media reports that Otedola had acquired a significant shareholding in the company.

The holding company, in a statement signed by Kosoko, and filed with the Nigerian Exchange Limited on Friday, said it had not received any notification of such acquisitions.