Nigerian billionaire and Chairman of FBN Holdings, Femi Otedola, has further solidified his position as the largest shareholder of the financial services company.
Otedola recently acquired an additional 797,946,415 shares of FBN Holdings, valued at N17.2 billion, according to a notice filed with the Nigerian Exchange Group (NGX).
This acquisition raises Otedola’s total stake in FBN Holdings to 11.64%, making him the only shareholder with a holding exceeding 10%.
This strategic move follows his recent purchase of shares worth N18.9 billion, which had increased his shareholding to 9.41%. In total, Otedola’s acquisitions over the past week amount to N36.1 billion.
Over the past three years, Otedola’s investment in FBN Holdings has reached N102 billion, with his 4.178 billion shares representing a significant portion of the company’s 35.895 billion outstanding shares.
