BUSINESS

FBN Holdings Denies Any Notification Of Otedola’s Acquisition

 

FBN Holdings Plc, owner of First Bank has reacted to reports that former Chairman of Forte Oil Plc, Femi Otedola has acquired majority shares of the bank, saying the company is yet to receive any notification from the individual mentioned in the media report, of such acquisitions.

Media reports on Friday claimed that that the billionaire bought shares worth N30 billion making him the bank’s largest single shareholder.

However, FBN Holdings Plc in a notice at the Nigerian Exchange signed by Seye Kosoko, Company Secretary said its attention “has been drawn to media reports today, 22 October 2021 purporting that a certain individual has acquired significant shareholding interest in FBN Holdings Plc therefore making him the majority shareholder in the company

“As a listed company, the shares of FBN Holdings Plc 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 y shareholders to the company, where shares are held in different vehicles, further to which the company will notify the regulators ad the public as appropriate “The company is yet to receive any notification from the individual mentioned in the media report, of such acquisitions. FBN Holdings Plc will always notify the appropriate agencies and authorities whenever it receives any notice of significant shareholding by the shareholders and the company’s registrars.”

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