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FBN Holdings reacts to report of Femi Otedola being majority shareholder

FBN Holdings Plc has reacted to media reports that billionaire businessman, Mr Femi Otedola, has acquired a significant shareholding in the company.

The Secretary of the holding company for First Bank of Nigeria Limited, Seyi Kosoko in a statement on Friday, said the company has not received any notification of such acquisitions.

The statement reads; “The attention of FBN Holdings Plc has been drawn to media reports today (Friday) that a certain individual has acquired significant shareholding interest in FBN Holdings Plc.

“As a listed company, the shares of FBN Holdings are publicly traded, and sale and acquisition of shares is expected in the normal course of business. 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 is yet to receive any notification from the individual mentioned in the media report, of such acquisitions.”

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