First Bank: We’re Not Aware Of Take Over By Otedola-FBN Holdings PLC
FBN Holdings PLC, the owners of First Bank of Nigeria, has disclosed that it is not aware that Mr Femi Otedola has taken over the bank.
There has been media reports that the billionaire businessman had acquired majority shareholding in the first generation bank, having reportedly paid N30 billion.
However, FBN Holdings PLC, in a statement by the Company Secretary, Seye Kosoko, said it was not aware of such a take over.
This is not to rule the possibility of an acquisition as the company only stated in the statement that it has not received a notification to the effect that Otedola has become the majority shareholder of the company.
“The attention of FBN Holdings Plc (the Company) has been drawn to media reports today, 22 October 2020 (sic), purporting that a certain individual has acquired significant shareholding interest in FBN Holdings Plc (the Company) 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 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.
“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,” the statement read.
