First Bank Holdings, owners of First Bank Nigeria has confirmed Nigerian billionaire, Femi Otedola and his nominee, Calvados Global Services Limited have acquired 5.07% equity stake in Nigeria’s oldest bank.
The confirmation came hours after the bank denied knowledge of Otedola’s acquisition of significant shareholding.
By this development, Otedola’s shareholding surpasses that of Oba Otudeko and Oye Hassan Odukale, both of whom were the firm’s biggest owners with 1.5 per cent and 1.03 per cent holdings respectively.
The transaction has been confirmed by the Nigerian Exchange Limited (NGX), which said on Saturday that it received information concerning the transactions of the shares transacted by Otedola.
A statement obtained from the Exchange, signed by Seye Kosoko, Company Secretary, FBNH Plc, stated: “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.