BREAKING: First Bank Makes U-turn, Speaks On Femi Otedola’s Alleged Takeover

BREAKING: First Bank Makes U-turn, Speaks On Femi Otedola’s Alleged Takeover

The holding company of First Bank of Nigeria, FBN Holdings Plc has announced that the Chairman of Calvados Global Services Limited, Mr Femi Otedola, has acquired substantial shareholding in the company.

FBN Holdings made the announcement in a statement issued on the Nigerian Exchange Limited’s portal on Saturday.

The statement, signed by the company secretary, Mr Seyi Kosoko said, “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.

“Based on the foregoing, the equity stake of Mr Otedola Olufemi Peter and his nominee in the company is now 5.07 per cent.”