FBH Holdings Plc, the parent holding company for First Bank of Nigeria, has refuted reports in a section of the media that billionaire Femi Otedola has acquired a controlling interest in the Bank.
The bank said in a statement that its attention had been drawn to media reports on October 22, 20201, saying that a certain individual had acquired a significant shareholding interest in the company, and that had made the individual a majority shareholder in the company.
This came after reports said that Otedola might have bought up to two billion ordinary shares of the Bank.
The Bank said however that it was yet to receive any notification from the individual mentioned in the media report in respect of the such acquisitions.
As a listed company, the shares of FBN Plc are publicly traded, while the sale and acquisition of the shares are expected in the normal course of business, it said in the statement issued by company secretary, Seye Kosoko,
It said the bank would always notify the appropriate agencies and authorities whenever it receives any notice of significant shareholding by the shareholders and the company’s Registrars.
“We operate in a regulated environment which requires notification of significant shareholding by shareholders to the company, where shares are held in different vehicles, further to which the company will notify the regulators and the public as appropriate,” the company said.
